You're dealing with limited funds for digital strategy. How do you decide which initiatives to prioritize?
Dealing with limited funds for digital strategy means making smart choices about which initiatives will give you the most bang for your buck.
When your digital strategy budget is tight, it's crucial to prioritize initiatives that offer the greatest return on investment (ROI). Here's how to decide where to focus your efforts:
What strategies do you use to prioritize your digital initiatives? Share your thoughts.
You're dealing with limited funds for digital strategy. How do you decide which initiatives to prioritize?
Dealing with limited funds for digital strategy means making smart choices about which initiatives will give you the most bang for your buck.
When your digital strategy budget is tight, it's crucial to prioritize initiatives that offer the greatest return on investment (ROI). Here's how to decide where to focus your efforts:
What strategies do you use to prioritize your digital initiatives? Share your thoughts.
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I’d prioritize initiatives that deliver the highest ROI and align with the company’s core goals. I’d also focus on low-cost, high-impact strategies like improving organic reach or enhancing user experience.
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When working with a limited budget for digital strategy, I would chose the channels that showed the best ROI. I would also leverage my SEO, working on my key words. Another important thing I would work on is the connections I have to generate backlinks. It will be very helpful to create content that shows ezpertise and that educates the audience. User generated content (UGC) would be a great addition if nit the best addition to all. Many loyal clients will be ready to express their satisfaction with our products. In summary, - Choice of the channels - SEO: keywords and backlinks - Content: powerful messages and UGC
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1. A fully functional and friendly web site, including good content and landing pages specific to your SEM. 2. SEO. 3. Maximize SEM / paid search, specifically with Google SERP (and secondary partners like YouTube but not other third-party partners). If anything is left, put it back into your website or customer UX/UI after initial tests. There are a few site/services which might merit some investment, but only if they offer results on a Cost Per Acquisition (CPA) basis.
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Limited funds requires focus to get impact. Define your goals: awareness, leads, sales or customer retention. Align these to ensure that every dollar contributes to outcomes. Know where your audience spends time online. Focus on channels and tactics that effectively engage. Assess based on potential ROI. Low-cost, high-impact strategies often deliver substantial returns. Use data to determine what’s working. Double down on what’s effective and cut underperforming efforts. Invest in content. Test new ideas on a small scale. Explore partnerships and collaborations to amplify reach. Use free analytics to monitor and adjust performance. Engage on the most relevant platforms. Create a few high-quality blogs/vlogs that address key pain points.
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Depends on what you're positioning or selling. Are you positioning a personal brand? Selling hardware? Or are you selling services? Are you looking at short term results for a quick buck or long term results? It all depends on your overall business goals, market competitiveness, product strategy and desired outcomes. What are the implications if you run certain campaigns to drive desperate results and what makes most sense and fits in your over arching business objectives?
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Align with Business Goals: Prioritize initiatives that directly support key objectives, such as revenue growth or customer acquisition. Assess ROI Potential: Focus on strategies with the highest return on investment and measurable outcomes. Leverage Analytics: Use data to identify what’s already working and scale those efforts. Target High-Impact Areas: Concentrate on activities like SEO, social media, or email marketing that can deliver results with minimal costs. Opt for Scalable Solutions: Choose tools and strategies that can grow with your budget over time. Utilize Free Tools: Maximize free or low-cost platforms for analytics, content creation, and campaign management.
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It's a great question, and it can be a bit tricky to answer. If you're working with an established brand, focusing on ROI and investing that money into digital channels (like Google Ads or Meta Ads) is a smart move. Instead of spreading your budget too thin, it's better to understand which platform is delivering the best returns and invest more there. On the other hand, if it's a small business just starting out with a limited budget, the priority should be on increasing brand awareness and getting the right ROI from those efforts. It's essential to ensure people know about your brand first, rather than spending on digital marketing without achieving the necessary recognition.
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This depends if you are B2B or B2C. If you are B2B - I would 100% focus on direct, personal outreach via either email or LinkedIn. There are great enrichment tools like Clay and Apollo for finding and getting your message in front of the right person. Iterate, Iterate, Iterate the message to find message to market match. For B2C - If you have any customers at all - Referrals would be my #1 tip. They are free (Or very low cost), and your customers get to feel good for referring something they love. Then, scale with the advertising platform your customers are most on. And of course - The best marketing you can possibly have - Word Of Mouth! Make sure your product is world class.
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If it's a service based business, I'd proceed with outbound outreach and content marketing investing a little on video marketing, saving the rest until we close a deal with the outbound strategies. Once it is done, I'll invest the rest amount to inbound channels (depending on what service we're providing) and I'll also ensure I have that "sassy" landing page with all kinds of social proof, case studies, and testimonials from clients and FREE consultations. And if that's for a product based business: the strategy depends on a number of factors. Is it B2C, B2B, D2C? Or whether they've been using any channels before for advertising? What's their definition of "tight budget" and most importantly - what's their end goal with this amount?
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It depends what you are promoting. A lot can be achieved with low cost organic strategies such as promoting on LinkedIn or emailing your current subscribers. You can incentivise email subscribers to share your message with their friends using a discount. Likewise, encourage LinkedIn followers to repost your post to get a free lead magnet. When using paid marketing, ensure your user journey is quick and easy to navigate to ensure maximum ROI. Landing pages and buying funnels should collect data efficiently and be straight to the point.
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