We’ve heard the phrase, “Spend more to earn more.” Whether you’re trying to get your MBA or it's your agency increasing their budget for ads, spending more money does help achieve that goal.
In Ad Age’s Marketing Fact Pack 2019, Geico’s 2017 ad spending was $1.4B making them the most brand in the nation. Increasing their ad spending helped Geico engage with their social media followers.
All ad spending has increased. While traditional media spending is decreasing, digital media is projected to grow by almost 7%. Digital ad spending is focused on social media, PPV, and video. Whether you prefer traditional, digital, or combining both forms of media, the arrow points in one direction – increase ad spending.
The problem is that our clients tend to be a little conservative when it comes to upping their budget for ads. Sometimes it’s just not worth it to them. They would rather use the money on something else they think is more important than ads.
If you’re trying to get your client to increase their ad budget and you’re running out of reasons, here are some ways to help you sway them to give you the number that you need.
It’s all about the data
When clients are hesitant to approve the increase for your ad spending, don’t hesitate to show them the numbers. Marketers should compare the collected data with their client’s competitors. Show how their competitors are crushing it when it comes to ad visibility and consumer engagement with a bigger budget.
Show how the budget is not enough
After comparing data between the client and their competitors, marketers can show how their client’s ads are weakened by a small ad spending budget. Not getting the increase marketers need to promote an ad campaign can only lead to setbacks to client’s ad visibility.
Set higher goals
Once the client approves of ad spending increase, it’s time for marketers to set higher goals for the creative marketing team. The client needs to see where their money is going and how it will be spent.
Diversify your social platforms
One way to justify the ad budget you requested is by expanding your client’s ad visibility. This can be done by increasing the number of platforms the paid ads appear on. No business wants their competition getting all the consumer attention and engagement.
It may sound a little counterintuitive to some but increasing ad spending budget helps boost a business’ ad visibility and consumer engagement. Convincing a client to increase ad spending takes a lot of time and effort devoted to research and developing a clear, thorough strategy where clients can see growth. There are several market analysis tools online that provide marketers the needed assistance.