No doubt about it, social media is evolving every day. It seems that new platforms are constantly becoming the next big thing overnight and what we knew about these platforms last week is different each day.
Welcome to planning and budgeting season for 2020! In hopes of making this process more streamlined and less painful, we’re explaining one way to tackle your marketing budget. You know this is an important, necessary process but one that is often put off or avoided . Let’s face it…it’s not the most fun part of our job. And if we’re being totally honest, I bet half of us got into this industry because “we’re not good at math.” However, budgeting is actually entrenched, in some aspect, in almost everything we do in marketing.
If you have anything to do with marketing planning and implementation you’ve likely heard of the owned, earned, social and paid media pillars. While all are important, owned media should be the foundation and driving force behind how these different pieces of your marketing mix interact. Without owned media, how do you get attention from journalists, share your content and information on social media, push consumers to your site through paid social ads, or keep potential consumers in your funnel through your e-mail program? The answer is, you don’t. Or at least you won’t do it well and you’ll spend extra money and reduce ROI.
In marketing and communications, earned and paid media are cornerstones, and owned media is the foundation. Each of them, especially together, help engage your audience with your brand. Focusing on owned media is important because you’re directly in control of owned media with regards to the creation, hosting and distribution of material.
We kicked off our series, “Tools and Tactics to Grow Your Business,” with a little hINgeSIGHT, about audience analysis and how it can literally mean the difference between success and failure of a brand. Today we’re going to briefly identify what audience analysis is, discuss the importance of this simple, yet powerful tactic and offer a few basic questions you should be asking as you determine who your audience is, why they need your business, and how you can reach them.
When it comes time to brand (or rebrand) your business, you might think that taking the project on internally is the best approach in order to keep costs down. We’d argue that hiring an outside branding agency will actually SAVE you time and money. Here’s why:
Many times, businesses overlook the value of branding because they view themselves as just a business and not a brand. Brands should not be viewed as something only concerning Fortune 500 companies. Regardless of the size of your business, branding can provide support to your marketing and communications efforts and, if implemented correctly, will increase the value of your company.