Receive the latest mybusiness news
Copyright © 2020 MOMENTUMMEDIA

The worst way to spend on digital marketing

Adam Zuchetti
Adam Zuchetti
22 June 2018 1 minute readShare
social, digital, marketing, apps, mobile

Businesses can drastically improve their returns on paid marketing spend by avoiding a simple but all-too-common mistake, an in-bound marketing specialist has claimed.

That mistake, according to Matthew Howells-Barby of HubSpot, is taking an ad hoc approach to spending.

“People waste lots of small amounts of money on paid content,” he said during a presentation in Sydney.

According to Mr Howells-Barby, many SMEs think they have small marketing costs by only paying for small amounts of advertising and content at a time. But he said that each of these small outgoings quickly adds up to a substantial pot of money.

“Facebook has made it so easy to spend money on its platform,” he said.

Mr Howells-Barby suggested allocating a decent amount of money to marketing each year in the business’ budget, and then keeping tabs of that spend, to keep track of these outgoings.

But to ensure maximum return on investment, he said it is important to know what the long-term goals are from this marketing. It can almost be addictive to simply throw cash at marketing channels without fully understanding what you are hoping to achieve.

Organic content can be a useful means of building profile and brand awareness, with paid content working alongside this to push more immediate sales results, he suggested.

According to commerce marketing firm Criteo, paid display advertising was the most popular form of marketing spend by businesses in 2017, with digital marketing now comprising almost 90 per cent of all marketing spend.

The worst way to spend on digital marketing
mybusiness logo
Adam Zuchetti
Adam Zuchetti

Adam Zuchetti is the former editor of MyBusiness and a senior freelance media professional, specialising in the fields of business, personal finance and property. In 2020, he also embarked on his own business journey – inspired in part by the entrepreneurs and founders he had met through his journalistic work – with the launch of customised pet gifting and subscription service Paws N’ All.

Leave a Comment

Latest poll

How satisfied are you with the SME measures in the federal budget?