– Ikea, the popular Swedish furniture retailer, has published a helpful guide on building a flexible marketing budget to accommodate the changing business environment.
– The guide advises investing in a digital marketing strategy given the significant shift towards online shopping due to the COVID-19 pandemic.
– A balance must be achieved in the budget between traditional marketing channels (like print and television) and digital channels (like social media and email marketing).
– Ikea suggests that marketers should invest in online research to understand their customers better.
– Tools such as Google Analytics, SEO keyword research, and customer surveys can provide valuable insight into customer behavior and preferences.
– The company also emphasizes the importance of flexibility. Marketers must be willing to adjust their plans and strategies based on real-time results and feedback.
– Investing in training and development of the marketing team is also a crucial component of the flexible budget.
– Ikea encourages companies to set aside a certain percentage of their budget for unexpected expenses or opportunities.

A Handy Guide from Ikea to Boost Your Marketing Strategies

Finding Balance between Traditional and Digital Channels

IKEA transparently reveals the shifting marketing trends with ever-growing e-commerce due to the global pandemic situation. This leading furniture company suggests maintaining a balance between online and offline marketing efforts is key.

Online Research for Better Strategy

The Swedish retailer encourages companies to delve deeper into the world of online research to better understand customer behavior. They highlight several tools such as Google Analytics and SEO keyword research that offer valuable insights into customer preferences.

Flexibility in Approach and Investment in Team

IKEA stresses the need for agility and continuous learning in today’s marketing world. As part of their flexible approach, they champion investment in training and development of the marketing team.

Buffer Budget for Unexpected Scenarios

Lastly, IKEA advises businesses to set aside a certain portion of their budget to face any unexpected challenges or to leverage urgent opportunities.

In a nutshell, Ikea, the renowned name in the furniture industry, throws light on how businesses can build a fluid marketing budget. The company encourages businesses to embrace the online scenario while not entirely disregarding the traditional channels of advertising. Investing in online research tools, fostering an atmosphere of learning, and providing room for unexpected events are some of the key pointers from the furniture giant. This approach not only balances the marketing strategy but also stands you in good stead against any sudden shifts in the business landscape.

originial article https://www.furnituretoday.com/?p=317998

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