Why Mental Health is important in business?

Why Mental Health is important in business

Business isn’t all about numbers and charts. It’s also about the people who make up your business. As humans, we all have mental health we need to be aware of, in addition to physical. But far too few employers focus on mental health in regard to their business operations, resulting in high employee turnover and low satisfaction within their organization.

Here’s why you should be focusing on mental health in business regardless of your industry.

MENTAL HEALTH IMPACTS YOUR BOTTOM LINE

Many of the most business-focused people are only concerned about the bottom line for their company or endeavour. But while any successful business has to be concerned with overall profitability and productivity, ignoring mental health for the sake of these bottom lines is foolhardy.

The fact is mental health can dramatically impact the bottom line of any business because it impacts the human element required for every business regardless of industry.

Businesses are made up of people. Just like you wouldn’t run your business with people who were constantly sick from physical illnesses, you shouldn’t run your business without having measures in place to handle mental illness.

Far from being a buzzword, mental illness is something that affects millions of people across the world. Although the symptoms are often invisible, mental illness can affect:

  • employee productivity
  • employee happiness and morale, which can spread throughout the office or company
  • business relations between your people and your clients
  • creativity and problem-solving abilities
  • promptness or scheduling
  • and more

If you don’t focus on mental health to some extent, your business will eventually suffer. People won’t show up to work, or they won’t do very good work when they do come to the office. Even if they show up, they might treat others poorly, make mistakes, or have other negative side effects as a result of their poor mental health.

FOCUSING ON MENTAL HEALTH PROVIDES BENEFITS ACROSS THE BOARD

Employees with good mental health are a boon to your organization, full stop. But even if an employee starts with good mental health, they might eventually lose it if your workplace doesn’t provide a healthy environment.

Here are some reasons why mental health can benefit your business:

  • It inspires higher productivity and motivation from your employees. If your employees feel secure and valued at work, they’ll work more efficiently and try to do better work
  • Employees won’t be late as often. Many people miss work or are late to work because of stress or other mental health-related issues. If your workplace is a positive environment, people will be more inspired to show up on time every day
  • It’s cheaper, too. Indeed, if you have mental health aspects in your healthcare plan, your employees will spend more time at work instead of more time at the hospital or getting treatment for their unsupported issues
  • Employees will be more loyal to your organization if mental health is prioritized. Any business that encourages employee mental health will experience less turnover. This, in turn, lowers your overall recruitment and training costs. It’s much more cost-effective to keep three excellent employees than it is to burn through the same three employees and have to hire three new ones in just a couple of months
  • Workplace relations will be much stronger, both between your employees and between them and your clients. Everyone can tell when a business is a great place to work out. Your clients will love doing business with you and your employees if they’re happier, of course.

As you can imagine, all of these benefits can positively impact your bottom line and result in a more productive, more innovative, and more welcoming company for everyone. In short, there’s no reason not to focus on mental health when failing to do so comes with so negative side effects. Focusing on mental health provides so many benefits across the board.

HOW TO MAKE A MENTAL HEALTH-FRIENDLY WORKPLACE

The good news is that every business can make a mental health-friendly workplace just by focusing on a few key initiatives. It’s not the place of every company to become qualified for the treatment of mental illness, of course. But there’s no doubt that some workplaces are better for mental health than others.

Here’s what you should do to make your workplace a better place for yours and your employees’ mental health.

VALUE DIVERSITY

It’s always important that you welcome any job applicants that are well-qualified for a position, regardless of race, sex, orientation, or any other demographic. Discrimination against an individual because of one of their demographic qualities can present a serious toll to that individual’s mental health.

FOCUS ON WORK-LIFE BALANCE

Sometimes it pays to focus on work to the exclusion of other aspects in life, but not always. In fact, workplaces that prioritize mental health will emphasize a work-life balance for all their employees. Don’t force your employees to work overtime or stay beyond a reasonable hour.

Similarly, your employees should feel that they can take vacation time or step out of the office when the situation calls for it. Employees that don’t feel like they can ask for time off eventually feel trapped by their workplace.

HAVE A HEALTH CARE PROGRAM THAT PROMOTES MENTAL WELLNESS

You should also make sure that mental health treatment and wellness aspects are included in your company’s health care and daily culture. We all face ongoing mental health challenges, but you can encourage your team to be open about any struggles they are facing. You can offer courses for your team on how to manage stress and anxiety and provide links to resources where they can find a Mind Coach to help them be stronger mentally.

PROVIDE TRAINING FOR MANAGERS

Any managers or front-line supervisors you hire need to be aware of mental health and constantly work at providing a healthy environment for your employees. This means focusing on social issues, ensuring worker stress doesn’t get too high and giving feedback in a positive and specific manner.

Managers can have a huge impact on the overall mental health of an office. It’s important that they take mental health as seriously as you do.

To connect with a mind coach please register your interest at lisnic.com

Digital Budgeting 101: Why You Need to Go Backwards to Go Forwards

Although it may sound contradictory, the best way to predict future outcomes in your digital marketing budget is by taking a step backward.

To get the best results, it’s vital to understand exactly how previous budgets have fared. Once you’ve established your initial digital marketing goals (you can find a guide on budget goal-setting here), it’s time to analyze and reflect on past budgets.

Read on to learn the most effective techniques for planning a solid digital marketing budget that will allow you to feel prepared for anything that comes to your company’s way.

Learn from the past

Firstly, investigate how much has been invested in each digital strategy and rank how successful these campaigns were. Take note of areas where money was invested in campaigns that failed to generate leads and sales.

Likewise, look into channels that were under-supported but saw positive performance and ROI. Begin to consider your digital budget based on these findings. Allocate money to strategies based on their success, not their actual cost. Smart budgeting is investing in the tactics that will see long-term steady success rather than instant results that aren’t sustainable.

Avoid surprises with statistics

To give you a rough benchmark of how much you should invest in your company’s digital marketing budget, it’s helpful to research the average spend for other businesses. You can compare these numbers to what your overall spend is projected to be.

According to reports from Forrester Research and eMarketer, the average firm is expected to allocate 41% of its marketing budget to digital in 2018. This number is expected to grow to 45% by 2020.

Come to your conclusion after investing your company’s previous campaigns and weighing them up against the direction you wish to take in the future.

Goal-setting meets forecasting

So, you’ve now reviewed your previous digital budgets and established what worked most effectively. The next step is to incorporate this into your new budget.

In our last blog post, we discussed the importance of goal-setting in a digital marketing budget. Forecasting goes hand in hand with this technique.

Digital marketing budgets are an ongoing project as much as they are an annual exercise. Annual budgets should take into account everything that may impact on marketing efforts for that year instead of simply altering the structure of previous years’ budgets.

For example, is there a new company branch opening? Are there large events occurring throughout the year? Do you plan on hiring new staff? Overall, the most important question to ask is how the marketing strategy aligns with the company’s goals, and how the budget will be used to achieve them.

Forecasting your budget will allow you to account for all costs instead of throwing money you don’t have at something during the year, resulting in setbacks for your company.


Questions to ask yourself:

  • What is each customer worth to you? (LTV/ROI)
  • What might your average conversions be? (CTR/Conversions)
  • How much can you spend on digital marketing?
  • How much will you allocate to each tactic (social, EDM, SEM)?
  • What tools will you need, and how much will they cost?
  • What are the other expenses you need to plan for?

Are You Doing What Every Successful Digital Marketer Does First?

Want to know the one thing that every successful digital marketer does first to ensure they get the biggest return on their marketing budget?

It’s simple: goal-setting. This is an absolutely essential practice for any digital marketer who knows how to execute their campaigns in a productive, cost-effective way. With a few simple tips, you can be doing the same in no time!

In this blog, we’ll walk you through the first steps every savvy digital marketer takes to ensure that they’re on target to hit all their marketing objectives. Get ready for revenue!

Step #1: Know your digital goals

The first step is clearly identifying which goals you want to achieve. Get specific. Do you want to increase brand awareness? Are you all about locking in leads? Do you want to establish a strong network of influencers that can help you be discovered? How about pushing engagement on social media?

Make a list of all the targets you want to hit for the budget period you’re planning for. Be realistic in the goals you set for your business, but don’t set the bar too low. Know that if you invest cleverly and put work into the right avenues, you’ll see results.

Step #2: Get specific

A useful tool for narrowing down your goals to ensure they’re viable is the SMART mnemonic. It’s important to get specific to understand exactly what you’re working towards, and help you break down the process of hitting your targets. This is exactly what this mnemonic helps you to achieve.

As an example, a SMART objective can be to increase the average order value of online sales to $80 per customer over a 6-month period. Frame your own goals around this tool and you’ll find that the budget planning process will get a whole lot easier!

Step #3: Do your research

Next, research the channels and customer touchpoints you can use to reach your goals. This is an extremely important part of any digital marketing budget. Understanding your target market, how they communicate and which channels appeal to them is the key to success.

You should ask yourself a series of questions to determine which channels are most relevant to your brand. These include:

  • Does the channel reach my intended audience?
  • Is the channel sustainable and affordable within my company’s marketing budget?
  • Will I be able to measure the success of the channel?
  • Does the channel allow me to express my brand’s intended message?
  • Do the channels I’m considering work together to convey my message?

Remember: even if the channel you’re considering is all the rage right now, it might not fit your brand. Always make informed decisions that directly relate to your company. Otherwise, your message won’t be delivered to its intended audience and you’ll have wasted time, effort and money.

Step #4: Always remember your goals!

Establishing a solid vision for your business is the first step to planning your digital marketing budget. Always keep your final goals in sight when organizing anything for your company.

When deciding which steps to take next in your business, ask yourself how they will help you achieve the goals you outlined in Step #1. This will ensure that you stay on track and prevent you from spending your budget on anything that won’t help you achieve.

As your budget progresses and evolves, continue referring to your SMART objectives. Stay focused and remember your goals – they will always inform what your next step will be!

Infographic: Shutterstock’s Hottest Design Trends of 2018

Shutterstock is one of the biggest image and video resources on the internet, facilitating over 170 million downloads each year. Each year, the company examines their on-platform search and download data to identify the most popular themes and keywords explored by users. With a huge pool of data at their disposal, it’s safe to say that they’re in the best position to determine the latest visual trends.

Last week saw the release of their 2018 Creative Trends report, offering predictions on which trends are set to grow throughout the year. If your website needs a facelift, have a think about how you can incorporate some of these styles into your branding and marketing content to freshen up your vibe! In the meantime, you can check out the full report here.

Via The Shutterstock Blog.

5 Singaporean Influencers You Need to Follow This Year

It’s common knowledge that Singapore has no shortage of inspiring influencers and bloggers to follow. The social media influencer industry has exploded over the past several years, particularly over Instagram.

This comes as no surprise: in 2017, 63 percent of connected consumers used Instagram in Singapore, with 35 percent of users belonging in the 25 to 34 age range.

If you’re in need of some influencer inspiration or some fresh content on your Insta feed, read on to find out which Singaporean influencers you should be following this year.

1. @bellywellyjelly


bellywellyjelly’s feed is great because it covers so many topics. The blogger, who also has her own site at bellywellyjelly.com, posts about travel, fashion, beauty and health, to name a few.

2. @nicolechangmin


Nicole Changmin is a well-known Instagram influencer with 36.4k followers. She also has a strong YouTube presence and her own blog. She has a fun, colourful Instagram feed with a focus on fashion, friends, her dog, boyfriend, and beauty.

3. @mongabong


Mongchin Yeoh’s friendly charm makes her a delight to folllow. She posts primarily about fashion and beauty, with some posts devoted to her upcoming wedding.

4. @xiaxue


Xiaxue is a self-proclaimed blogger/reality star/mermaid. She’s well-known for her YouTube beauty channel and her funny, cute posts about her family on Insta.

5. @carriewst


Actor Carrie Wong’s feed is graceful and elegant, yet filled with cute content. She posts a lot about fashion, fitness, friends and general daily musings.

How to Effectively Use Hashtags in Your Digital Marketing Strategy

The hashtag has evolved to represent a variety of things. We all have that friend on Instagram who uses #blessed at least once a week or follows a gym junkie who is forever posting #fitspo on their feed. We’ve probably all been that person who uses a painful amount of hashtags at the end of a post to seem clever while being a little bit #ironic.

Whether you love them or hate them, there’s no denying that hashtags are here to stay. Believe it or not, though, they can be used as part of an effective digital marketing strategy. Instagram posts with at least one hashtag average 12.6% more engagement than those without. You can use hashtags to categorize your social media posts into topic-specific feeds, which can help you target audiences outside of your existing follower base.

To use the hashtag, one must understand the hashtag. Check out our handy tips on the best ways to incorporate these little symbols into your digital marketing strategy.

Get personal

The best way of tapping into a market is by understanding it. To effectively use a hashtag, you’ll need to do some research on your brand and its followers: know who you’re speaking to and learn what makes your audience tick. It’s a fact that targeted audiences lead to better engagement.

Increase your engagement by honing in on a particular community. Choose hashtags that aren’t too broad, but not too narrow — find a middle ground. For example, #icecream and #doublechocchipcaramelswirl aren’t good options for an organic ice cream brand, but something as simple as #organicicecream is great.

Do your research

There are tools available to help you gain more information about your market. One such tool is Hashtagify, which allows you to conduct research on popular hashtags and determine which ones are relevant to a particular audience. Hashtracking is a similar site. A premium paid tool is called Keyhole, which offers plans for the hashtag and keyword tracking.

Another way of doing some research without using an application or tool is by looking through accounts with a similar brand to yours. Establish which hashtags they’re using, then click through to find out which other brands are doing it too. This is a simple way of finding less popular but highly targeted hashtags that are relevant to your brand’s audience.

Coin a new hashtag!

Another option for hashtagging is starting your own, either for your brand as a whole or for a specific campaign. As a rule of thumb, don’t use your company’s name in your hashtag. Rather, focus on creating a catchy, easy to remember slogan for your brand. A great example of this is Coke’s #ShareaCoke campaign, which also encouraged users to generate content for the brand by creating a post and hashtagging it.

Keep the hashtag as simple as possible since users don’t want to spend time typing out long hashtags. Make sure the spelling is correct and capitalise the first letters of words to make your tag more readable if needed. Don’t fall prey to the disastrous mistakes of Susan Boyle’s PR team years ago, who legitimately started using #susanalbumparty as a promotional hashtag for her new album. Oops.

With these tips in mind, you’re now ready to breathe new life into your marketing strategy using the power of hashtags. #GoodLuck, marketers!

5 Tips to Save You Time on Your Social Media Marketing Strategy

If there’s anyone who knows how stressful the feeling of a never-ending workload can be, it’s social media marketers.

An average day can involve checking social media networks multiple times, keeping up to date on fresh and engaging content, scheduling said content, responding to messages and mentions, identifying influencers and reviewing post performance. It’s enough to make anyone’s head spin, and that’s without even getting into the other parts of the job!

If you’re a marketer who needs some advice on how to break up your workload into manageable chunks, you’ve come to the right place. Read on and feel your sanity being restored.

1. Multi-tasking: don’t do it!

Contrary to popular belief, 98% of the population doesn’t multi-task effectively. This means that only 2% are actually proficient at doing many things at once, and these people are considered outliers.

The majority of people aren’t actually multi-tasking — rather, they’re shifting back and forth from one task to another. Each time a different task is started, the brain needs time to refocus. While multi-tasking may seem efficient, it actually isn’t. Studies show that multi-tasking can actually reduce productivity by as much as 40%.

While it may take some time to readjust your working habits, it’ll pay off in the long run. Make a daily schedule or to-do list, decide which task you need to focus on, and see it through rather than flitting in between five different tasks. Your brain will thank you!

 

2. Choose channels wisely

This is a no-brainer, but the more channels you are active on, the more time you’ll spend on social media. Do some research and work to understand your audience. Examine your performance reviews and analytics to determine which channels are most relevant to your target market.

As a rule of thumb, all businesses should be on Facebook and Instagram. However, does your audience engage with Twitter and YouTube? Find out and refine your content strategy according to this data.

 

3. The answer’s in the data

Are you up to date with your social media engagement data? While you’ve probably read about the best times to post content, your own data is the best indicator of when you should be posting and scheduling.

Use native platform tools like Twitter Analytics and Facebook Insights to determine when your audience is most active. Then, schedule around these times and watch your engagements rise. This way, you can justify uploading less content as the posts you’re already uploading are reaching engagement targets.

 

4. Prepare templates

To maximise your time and save yourself from doing the same repetitive tasks, make some templates to use for your graphics and posts. You can easily make clean, visually pleasing graphic templates for Instagram, Twitter and Facebook posts using a software like Canva. This way, when you have something to post, all you need to do is adjust the text and image with the resolution and layout already in place.

Another good idea is to have a document accessible on all your devices with your brand’s hashtags ready to copy and paste. You can also prepare a spreadsheet with potential formulas for headlines, blog posts and short social copy to pull from when you need to get a post up quickly.

5. Plan and schedule

Devise a core structure for the content on each platform that you can tweak and update each week. For example, on Facebook, you can post a funny image on Monday, a staff insight story on Tuesday, some commentary on a current affair on Wednesday, a #ThrowbackThursday post on Thursday, and a video on Friday.

Schedule your content around your engagement data, and update your posts based on what’s happening with your business that week. Use the schedule solely as a guide, but know that if you’ve had a busy few days, you have some content ideas to fall back upon without neglecting your brand.

5 Engaging Social Media Content Ideas To Try In 2018

Updating a number of social media platforms can be hard work, especially when you’re trying to think of original content. Customers can easily lose interest if your content gets too repetitive or doesn’t offer anything new.

Here are a few ideas to breathe new life into your 2018 content plan and grow your follower base. The great thing about these ideas is that they can be repurposed and used in a variety of ways from different angles — don’t be afraid to get creative!

1. #ThrowbackThursday

Star Wars

@starwars

– Frozen? Been there, done that.

599 people are talking about this

Everyone loves a bit of nostalgia. Pique your audience’s interest by sharing a memory of something that happened in your business last year. Even better, share a cool story about the history of your name/brand/concept/location. What was the business originally going to be called and why? What did your retail space used to be?

2. Tag someone


Boost engagement by encouraging your followers to tag a friend that might appreciate your business. This is a great way to increase your followers and assist with lead generation. You can post images of funny quotes, relatable or cute images, or a new product or experience that your business is offering.

3. Competitions and giveaways


Admit it, there’s nothing quite as exciting as free stuff. Competitions and giveaways are a fantastic way of spreading awareness about your business and getting your audience roused. Offer a package of products from your store or a prize that’s somehow related to your brand. While you may get a lot of entrants, you won’t build brand loyalty by giving away an iPad. To maximise your reach, get applicants to enter by tagging a friend or two to further spread the word.

4. Repost customer photos


Build a community around your brand by creating a hashtag and encouraging customers to use it when they engage with your product. You can then repost your customers’ posts as a way of showing your appreciation for them, and reinforcing your credibility by sharing other people endorsing your project.

5. Staff spotlight


Make your audience feel like they’re engaging with real people by sharing photos or videos from around the office. If someone won the employee of the month award, why not post a photo of them? Did someone else bring their puppy into the office last week? Perfect — post about it (it’s a fact that everyone loves puppies). Giving your audience an insight into the people behind the brand helps to gain their trust and feel connected to you.

New Year, New You: 3 Apps to Improve Your Wellbeing and Productivity

Feeling sluggish and unmotivated after the festive season? Having a rough time getting back into a schedule after a few weeks of sweet relaxation? These apps may be just what you need to set your life back on track.

Whether you’d like to feel more present in your everyday life, increase your productivity at work or stick to your new year’s resolutions, these apps are our top picks for the new year. Soon enough you’ll be ready to kick 2018 in the butt: we believe in you!

Headspace

Headspace has long been considered the go-to app for guided meditation. If stress is getting the best of you, this app can teach you skills to improve everything from sleep and relationships to managing anxiety. It’s packed with features like adjustable meditation sessions and soothing sounds to help you doze off at night.

The app comes with a free ten-day Basics pack with the option of upgrading using in-app purchases. With over 16.2K ratings averaging at 4.8 stars out of 5, Headspace is a fantastic option to consider for your app collection and general wellbeing.

Available on the App Store and Google Play.

Streaks

Streaks functions as a visually pleasing, easy to-do list that helps you form good habits. The app allows you to choose up to twelve tasks you want to turn into daily habits (by contrast, it can also help you break a bad habit). Every time a task is completed, your streak is extended. If you fail to do a task for one day, you break the streak and have to start from scratch.

The app also links to the Health app, allowing you to automatically track certain goals. If you don’t want to incorporate a daily streak, you can set the days you want the task to appear.

Available on the App Store.

Forest

Struggle to get any work done with your smartphone around? Ironically, there’s an app for that. Forest is a cute app that encourages you to put down your phone by allowing you to plant a seed in a forest. You choose how much time the seed will take to grow, and if you open your phone before this time is through, your tree will wither away.

If you succeed, you can unlock more species of tree, grow a beautiful forest and track your progress day-by-day. The app also allows you to manage your own tags and view statistics about how you allocate your time. Trust us, it’s super effective!

Available on the App Store and Google Play.

forest-app

Top 4 Social Media Channels to Include in Your Marketing Strategy

Feeling sluggish and unmotivated after the festive season? Having a rough time getting back into a schedule after a few weeks of sweet relaxation? These apps may be just what you need to set your life back on track.

Whether you’d like to feel more present in your everyday life, increase your productivity at work or stick to your new year’s resolutions, these apps are our top picks for the new year. Soon enough you’ll be ready to kick 2018 in the butt: we believe in you!

Headspace

Headspace has long been considered the go-to app for guided meditation. If stress is getting the best of you, this app can teach you skills to improve everything from sleep and relationships to managing anxiety. It’s packed with features like adjustable meditation sessions and soothing sounds to help you doze off at night.

The app comes with a free ten-day Basics pack with the option of upgrading using in-app purchases. With over 16.2K ratings averaging at 4.8 stars out of 5, Headspace is a fantastic option to consider for your app collection and general wellbeing.

Available on the App Store and Google Play.

Streaks

Streaks functions as a visually pleasing, easy to-do list that helps you form good habits. The app allows you to choose up to twelve tasks you want to turn into daily habits (by contrast, it can also help you break a bad habit). Every time a task is completed, your streak is extended. If you fail to do a task for one day, you break the streak and have to start from scratch.

The app also links to the Health app, allowing you to automatically track certain goals. If you don’t want to incorporate a daily streak, you can set the days you want the task to appear.

Available on the App Store.

Forest

Struggle to get any work done with your smartphone around? Ironically, there’s an app for that. Forest is a cute app that encourages you to put down your phone by allowing you to plant a seed in a forest. You choose how much time the seed will take to grow, and if you open your phone before this time is through, your tree will wither away.

If you succeed, you can unlock more species of tree, grow a beautiful forest and track your progress day-by-day. The app also allows you to manage your own tags and view statistics about how you allocate your time. Trust us, it’s super effective!

Available on the App Store and Google Play.

Our Top 5 Instagram Influencers Of 2017

Instagram influencer marketing is growing more popular by the year. In fact, the industry could reach a massive $2 billion by 2019.

Since its inception in 2010, Instagram has been one of the fastest growing social media platforms. It currently has over 700 million monthly active users, and stands as one of the most highly engaged social media networks today. Its simple, visually pleasing interface makes it an accessible and popular platform for the influencer marketing industry. With some of the biggest brands cashing in on the industry, there’s no sign that growth will slow in the next several years.

Here’s a list of 2017’s top influencers who made huge profits via Instagram — which ones did you follow this year?

1. Chiara Ferragni

 

Chiara Ferragni launched her fashion blog The Blonde Salad in 2009. After being featured by Teen Vogue, her site reached 1 million unique visitors — and it’s only been up from there. She is now considered one of the most successful fashion influencers in the world, and currently has 11.2 million followers on Instagram.

@chiaraferragni

2. Huda Beauty

With her 23.2 million followers, beauty tycoon Huda Kattan earns $18,000 per Instagram post she makes. She also has four million YouTube subscribers and 1.5 unique monthly blog visitors. Kattan launched her own makeup range in 2013 called Huda Beauty, and she’s considered the first influencer to have built her own company without using traditional channels.

@hudabeauty

 

3. Goodlife

Farokh Sarmad is only 21 years old and already one of Instagram’s leading influencers: at a young age, he turned Instagram into a 6-figure business. He now runs a digital marketing agency specialising in influencer marketing. Posting images of luxurious holidays, cars and houses, Sarmad is followed avidly in almost every major country.

@goodlife

 

4. CookinWithMima

Mariam Ezzeddine took a passion for food and turned it into her own business. Despite the fact that she went to college to study criminal justice, Ezzeddine now has over 2.5 million Instagram followers and one of the largest food accounts on the platform.

@cookinwithmima

5. Song of Style

One of the original fashion bloggers, Aimee Song has 4.7 million Instagram followers and over 2 million page views per month on her site. During Volvo’s campaign with Song earlier this year, each of her Instagram followers was worth more than $1 in media exposure for Volvo. The young entrepreneur earned over $5 million worth of media exposure for the company.

@songofstyle

Tips And Tricks For Maintaining Your Digital Marketing Budgut

One of the biggest mistakes any digital marketer can make is setting a budget for a year and failing to review it.

The digital marketing landscape in particular is ever-changing, meaning it’s crucial to stay on top of trends as they surface to maintain relevance and credibility to your customers.

When establishing a budget, it’s a good idea to use a combination of two planning techniques: goal-setting and forecasting. Digital marketing budgets are an ongoing project as much as they are an annual exercise.

Annual budgets should take into account everything that may impact on marketing efforts for that year instead of simply altering the structure of previous years’ budgets. Is a new company branch opening? Are there large events occurring throughout the year? The most important question to ask is how the marketing strategy aligns with the company’s goals, and how the budget will be used to achieve them.

Budgets in the digital landscape regularly need to be tweaked to keep up with industry trends. For example, paid search or social advertising require regular performance analysis that might prompt redistribution of budget.

Because digital channels fluctuate frequently, staying on top of where time and resources are going helps in maximising value and getting optimal results. If something isn’t working, change it then measure it again. Successful budgeting isn’t simply a matter of setting it and forgetting it for the rest of the year.

Furthermore, marketers often make the mistake of measuring success by how many leads they generate instead of their actual impact on revenue.  While a campaign may be popular and attain a lot of responses, few of those responses actually turn out to be business. Measuring leads doesn’t give you the information to gauge how your marketing is actually working.

Consider using specific metrics to track which leads bring about sales and measure conversion rates, taking note of the percentage that converts from stage to stage. Use this number to inform the adjustments you make to your budget. If you understand how your lead generation campaigns perform, you can make the right strategic investments over time to improve your results.