How to allocate your marketing budget effectively

By | January 18, 2017

You’ve set up your business and it’s time to go to launch. Have you planned how to allocate your marketing budget effectively?

The key to an effective launch strategy is to consider your potential buyers’ decision-making behavior. There are four stages that buyers go through when they decide to purchase a product:

  • In the first stage, they realize they have a want or need.
  • In the second stage, they look for more information about how they can satisfy their want or need.
  • In the third stage, they make the purchase.
  • In the fourth stage, they behave either positively or negatively about their purchase.

When allocating your marketing budget, you need to reach potential buyers at each stage of their buying process. Here’s an example of this in action.

  1. Run a Facebook ad to make potential buyers aware that your product or service will satisfy their want or need.
  2. From the Facebook ad, direct them to a landing page on your website where you provide more information about your product and your business. If writing is not your strength, outsource your web content writing to a company like contentray.com. It offers several content writing services.
  3. From the landing page on your website, direct them to a sales page that has a “Buy now” button or shopping cart. Rather outsource the setting up of your shopping cart if you’re new to e-commerce.
  4. Follow up the sale with a welcome email to ensure they’re happy with their purchase, and continue to keep the conversation going through a series of follow-up emails and ongoing support. For this, you need to invest in a good autoresponder.

This example shows one of many ways in which you can make a success of your launch. Simply get into the minds of your potential buyers and meet them on their way. This will make your buyers happy and they will stick to you forever.

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