Decoding Digital Marketing Spend: A KPI-Based Budgeting Approach
In the realm of digital marketing, determining the optimal spend can often feel like navigating a maze without a map. However, at CAMP Digital, we believe in simplifying complexities. That’s why we’ve developed a straightforward and simple paid ads budgeting tool that aligns your digital marketing expenditure with three pivotal Key Performance Indicators (KPIs), ensuring a strategic approach to budget allocation.
Unlocking the Budgeting Code
In our recent video, CAMP CEO Katie Donovan, shares insights on how to navigate the terrain of digital marketing spend for the upcoming season. She introduces our simple yet powerful budgeting tool designed specifically for home service businesses. This tool shines a light on three crucial KPIs that serve as guiding beacons in your budgeting journey.
The Three KPIs
Our budgeting tool is a comprehensive spreadsheet that will yield the following KPIs:
1. Cost Per Lead: Understand the cost incurred for each lead generated through your digital marketing efforts.
2. Cost Per Booked Lead: Analyze the expenses associated with converting a lead into a booked appointment or service.
3. Cost Per Run Job: Measure the costs involved in successfully completing a job, offering insights into the efficiency of your marketing spend in securing business.
How It Works
The tool simplifies the process:
- Enter figures for tech quotes, completed jobs needed per month, and the number of working days.
- Define your repeat/referral percentage to determine the proportion of demand generated leads from existing customers/referrals.
- Input your booking ratio to gauge the effectiveness of your lead conversion process.
- Factor in your Run Rate and Cost Per Conversion.
The result? A clear monthly budget suggestion tailored to your specific business needs, providing a strategic direction for your digital marketing spend.
Join the Conversation
Click here to watch Katie Donovan’s insightful video discussing our KPI-based budgeting tool, and unlock the potential to optimize your digital marketing spend for the upcoming season.
Connect with CAMP
Ready to streamline your budgeting process? Click here to download our simple paid ads budgeting tool. Better yet, connect with an expert at CAMP Digital today to learn more about our comprehensive digital solution packages created exclusively for home service businesses.
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