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Marketing Budget Changes for 2020

2020 is a big year no matter how you look at it. It’s the end of the previous decade and the start of an entirely new one. Every new year is an opportunity to make the changes necessary in order to have a successful business. This year, plan to work harder than ever before to keep up with the ever-changing market. How will your marketing budget differ from years past in 2020? Read on to know what more you should expect.

Increased Advertising

In 2020, you can expect to see a higher volume of advertising. This is due to the fact that social media is becoming more and more present, so people are taking advantage of it and using it to advertise their businesses. However, the more people want to advertise, the less space is available, thus costs are rising. Yes, unfortunately this means you’ll most likely have to pay more if you want to continue advertising your brand. 

If you aren’t familiar with advertising bidding, it’s simple. Real-time bidding refers to the buying and selling of online ad impressions through real-time auctions that occur in the time it takes a webpage to load. Those auctions are often facilitated by ad exchanges or supply-side platforms. So in this case, the system of bidding will go higher. Whether it’s pay per click (PPC), pay per view (PPV), or anything else, things will change and become busier.

Attaining New Clients

If you’re looking to expand your business in 2020, consider the fact that it will be more expensive to sign on new clients. It could even be harder to sign on new clients as well. In the extremely likely event that advertising does increase, those people will have so many options from which to choose, meaning you’ll have to woo them a little extra if you want them to work with you.

The same goes for customers as well. The average American sees anywhere from 4,000 to 10,000 advertisements per day. Whether it’s on television, Facebook, Instagram, or even radio, we’re constantly surrounded by ads from all sorts of companies. It often becomes hard to keep up with what’s what. Keep that in mind when you prepare ad campaigns for 2020: since the average person does see so many ads per day, you want to make sure that yours stands out among the rest.

None of this is to deter you from attempting to grow, of course. These are just some things to be aware of and to prepare for so you won’t hit any sort of impasses. New year, new marketing model.

Creativity

Building off of our previous point, your advertising must be creative. If you can honestly look at your past work and know that it wasn’t your best, it’s time to rethink things. Right now, your competitors and every other business is running the same run-of-the-mill ads that people are tired of seeing. They’re running them on Facebook, Instagram, YouTube, and every other corner of the Internet. The worst part? No one clicks on them like they used to simply because it doesn’t matter to them.

This is where you should strive to be better than the rest. Even if you don’t think of yourself as a creative person, there’s time to change things up. If you need to hire a content writer, a graphic designer, or even a social media specialist, there are marketing professionals out there who would love to help bring your dream to life. There’s no need for you to live in the past when we’re entering into the future. Make the changes necessary to have your most successful year yet.

While we don’t claim to know all of the answers, by following data patterns, we can strongly predict that this is what your business will experience when 2020 rolls around. There are plenty of steps you can take to ensure success, and there’s no time like the present to make that happen.

Take a long, hard look at your business so far. Examine the number of sales, posts, clicks, and engagements you’ve earned. If you’re pleased with that number, then great. But if you know you can do better, do it. Though times are changing, they’re for the better, and it can mean huge things for you in the long run. Be prepared to adjust your marketing budget in order to run a more successful business.

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