Probably the most difficult task that every senior sales manager will face regular budget to maximize efficiency. Nowhere is this more challenging than when deciding where to spend marketing communications budget.
The exponential growth of new media almost every aspect of life from your second (digital of course) radio alarm goes off in the morning through all the traditional offline media you are exposed to during the day. When we go online and explore the high requirements of the budget related to email marketing, search engine optimization, pay per click, web design and a plethora of other online marketing opportunities, budget problems seems to be impossible. Various studies indicate the average person living in a developed country is exposed to somewhere between 3000 and 7000 different advertising messages a day. If you are targeting a person, then how do you choose one or two messages that are going to grab their attention and generate the right answer? Even for very experienced marketers this is not an easy decision. Some will argue that a very scientific approach, but in this article we will handle budgeting exercise as a combination of art and science
The answers can be found in several critical areas :. The size of the brand and the company, the nature of the target market, the relative size of competitors, the level of experience you have had previous marketing activity and personally tend to believe in a particular approach. I’ve packed in
Ten golden rules for the organization of an integrated advertising campaign
1 Repetition builds knowledge-based response
Do not spread your budget too thin. It is better to repeat the message three or four times to the same person in the same media but to spread the message to a wider audience can only see her once or twice
2 Online marketing is fashionable but that does not make it right for your business
If you know that you can build your business by increasing visits web that makes online spending smart. But if the business model does not depend on your own to be careful about throwing all your money online
3 Reduced budget the more benefit relations can provide
Public Relations takes time and effort but the results can be fantastic and monthly equates often just one ad
4 The bigger your company is more important brand building
As a massive generalization, low companies need to focus on building response and every penny they spend on marketing is looking for short-term returns. In the long run it is the budgets that invest in building brands that work but there is no point in worrying about that when the budget is small.
5 Direct Mail and e-shots are the starting point for most small businesses
You can directly compare the cost of return.
6 not more than 50% of your budget online
OK it’s not really the golden rule that some companies can thrive never appear outside the virtual world. But it is rare to find a target market that is not responsive to offline communication and an average of 50% of the “commercial” web visits are driven by traditional media.
7 Information Is Power
Simply, the more you understand your target market and media consumption, the better you can plan campaigns that connect with them. Also, if something has worked before, but it will probably work again, but not in quite the same way. So learn from your successes and your mistakes.
8 Do not swim with the big fish
If you are a small fish that swim upstream or downstream of the big ones taken from the book of Adam Morgan ‘Eat Big Fish’ this regulation simply says that challenger brands have to do things differently to competition
9 sponsorship for laughs
If you have many millions of pounds or dollars to spend the grants League football club . If the budget is reduced to avoid spending too much money on a simple brand awareness and make sure the brand values, your unique selling points and calls to action are built into the marketing communication
10 Integrated communication are moving
Even better than to repeat the message to one person on the same medium is to get this message across to the person through different marketing. Direct mail pieces, e-shot, a press advertisement along with the PR branch come together to make the budget look much bigger than it is
Finally, it is Rule 11 too! If you can not afford it then that rules it out. It seems obvious, but a lot of very experienced marketers make the mistake of wanting to try the media they perceive to be respected such as National TV who drink more than 50% of its budget and leave a lot of the more hard work, cost effective, require driving media unaffordable.
To summarize, it is the art and science come together, there are no specific right answers, but there are obviously a lot of bad ones. If you are in doubt, an integrated marketing agencyto help you decide. Specialist agencies will always try to get as much of your budget as they can. Integrated organization might want almost your entire budget but it will work with you to optimize your time!