Does my marketing plan have any merit?

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RATATATAT

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I have always been of the idea that one should stretch marketing dollars as far as possible; large marketing spend doesn't seem to equate to high or for that matter,decent and consistent profits.

I decided to cap myself to a budget of $2000 for marketing a few digital products I have.

With that budget, I can either:

  1. Give it all to a 1 influencer/youtuber with a large following. Some of their rates are eye poppingly large. ($1500 for a newsletter shoutout? really?)
  2. divide it among smaller youtubers e.g. 500 for 4 differerent guys and guage the results
  3. run a contest
I have never run a contest and this is how I am thinking of running it:

  1. Spend the budget on giftcards and various electronics like used gaming consoles, kitchen appliances and whatever I can get on FB marketplace that has utility
  2. Run said contest where people download one of my apps/ebooks etc and enter their email addresses
  3. Use said email address for upselling down the line.
I have limited experience with influencer marketing and none at all with running contests.

Can you guys help me decide with one I should go for? Maybe point out the pros and cons of either one or maybe write from experience?

Thanks!
 
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Divide among small youtubers. If budget it still left, you can run a contest as well.
 
what is your offer? why would anyone be interested to buy? marketing is supporting the offer
 
Influencers give quick exposure but are risky. For fast results, test smaller influencers, but be mindful of the risks.
 
RATATATAT said:
I have always been of the idea that one should stretch marketing dollars as far as possible; large marketing spend doesn't seem to equate to high or for that matter,decent and consistent profits.

I decided to cap myself to a budget of $2000 for marketing a few digital products I have.

With that budget, I can either:

  1. Give it all to a 1 influencer/youtuber with a large following. Some of their rates are eye poppingly large. ($1500 for a newsletter shoutout? really?)
  2. divide it among smaller youtubers e.g. 500 for 4 differerent guys and guage the results
  3. run a contest
I have never run a contest and this is how I am thinking of running it:

  1. Spend the budget on giftcards and various electronics like used gaming consoles, kitchen appliances and whatever I can get on FB marketplace that has utility
  2. Run said contest where people download one of my apps/ebooks etc and enter their email addresses
  3. Use said email address for upselling down the line.
I have limited experience with influencer marketing and none at all with running contests.

Can you guys help me decide with one I should go for? Maybe point out the pros and cons of either one or maybe write from experience?

Thanks!
Click to expand...
You make a good point about making the most of your marketing budget. Spending a lot of money doesn't always mean you'll get consistent returns. If you have a limited budget and certain aims, it can be safer to spread your money out among smaller influencers. You may test different audiences, compare how engaged they are, and get relevant data without putting all your eggs in one basket.

But running a contest could help you grow your email list and client base over time. It does, however, take additional planning and explicit incentives to keep low-quality leads from coming in. The contest could be a terrific way to assess your growth if you're okay with trying new things and learning as you go. But if you want more predictable results, go with the micro-influencer option.
 
RATATATAT said:
divide it among smaller youtubers e.g. 500 for 4 differerent guys and guage the results
Click to expand...
You have the right idea but YouTube sometimes feel like a gamble especially with small channels.
Tiktok will do better, find small and big accounts on tiktok to promote the product. You might not even spend the whole 2k.
 
if you selling a digital product instead of spending on youtubers or influencers use instagram and facebook ads they will generate a large amount of order in your digital product trust me. I actually try it my self, but for this thing you have to learn how to run ads how to run PPC or you can also hire someone that takes commision based on sales and run your campaign.
 
The small influencers are the ones that can give you the most bang for your buck. You can probably get some on board without spending money without results. Offer them to give them your product for free and give them an affiliate link where they will get a good fee for everybody that buys your product or a CPA link where they will get a fee for everybody that signs up for a free trial. In that way, you will not spend any money without a result and the smaller creators might still be interested in the free product + the chance for some earnings.
 
Your best ROI might come from building a funnel and retargeting, not giveaways
 
WIth that money you could also buy a pre-existing audience (Instagram page for example) and continue to market to it over and over again instead of it being a one time thing. From this you could also build an email list, create new accounts with the help of your newly purchased audience, etc.
 
With a $2000 budget, you have several viable options partnering with smaller youtubers can provide targeted exposure at a lower cost allowing you to test different audiences running a contest can help build your email list and engage users but it requires careful planning to ensure quality leads consider your goals and resources to choose the best approach.
 
Usually, the reach metrics promised by YouTubers differ greatly from the actual ones. If you choose option 1 and lose, you may end up with nothing. I would still diversify the risks by dividing the budget into different, more targeted integrations.
 
the general sentiment is that i should divide my budget into 2 and see which one works better. Maybe a 60/40 split tending towards youtubers. I will read through the rules and see how to (or if i can) post links to the contest on this forum. Thanks guys!
 
Builder Dave said:
The small influencers are the ones that can give you the most bang for your buck. You can probably get some on board without spending money without results. Offer them to give them your product for free and give them an affiliate link where they will get a good fee for everybody that buys your product or a CPA link where they will get a fee for everybody that signs up for a free trial. In that way, you will not spend any money without a result and the smaller creators might still be interested in the free product + the chance for some earnings.
Click to expand...
Kindly share some informations I wanted to learn things from you I will really appreciate it
 
Your plan looks cuckoo. It's just all about spending money, as if thats the magic bullet that will suddenly propel you. There is no clear hours of work and sweat equity were you do something. What is your most important money making task that you repeat? Do you even have a handle on that yet?
 
I’d split it across smaller creators and test a contest—lower risk, better data, and you can grow your email list too.
 
- Execution effort: It requires careful planning to set up, promote, and manage entries.
 
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