Rules for successful budgeting in marketing

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It is quite problematic to calculate the conversion of offline advertising on radio and TV, bulletin boards. Here, the success of the campaign is probabilistic, and this should be taken into account when planning the budget.

2. If the company's marketing budget is excessively large (at the time of the campaign), it will be necessary to prioritize funding for channels.

It will be necessary to determine which of them can be most effective and deserve priority investments. There are different approaches to solving this problem. A common method is to divide channels into 3 types:

typical working channels (with proven effectiveness - based on the example of previous campaigns, including competitors) - contextual, targeted advertising, SEO;
non-standard channels of the competitive line (which can have high efficiency in potential, since competitors had good real results) - for example, promotion through bloggers;
experimental (fundamentally new, never previously used by cambodia telegram data the company - and there is no data that competitors could have used them before), for example, promotion through chat bots.
If the business is completely new, then for the initial "promotion" priority should be given to the first two strategies (in the approximate proportion of 75 and 20% of the marketing budget). Experiments should not be ignored - about 15% of the money should go in this direction.

If the campaign is not the first for the business and it already has a significant market share, then marketers will already have data on the effectiveness of the tools used earlier. As a result, experimental or competitive solutions that have proven effective can be transformed into standard ones - and then the budget can theoretically consist only of standard ones. With a significant change in market conditions (for example, with the emergence of unique niche opportunities), the company can significantly win over competitors precisely by adopting unexpected experimental solutions.

Taking into account the above, the following key recommendations for calculating the advertising and marketing budget can be identified:

1. Focus primarily on your own experience, but also take into account the results of your competitors so as not to repeat their mistakes.

2. Do not allow unreasonable limits on campaign expenses, and if there is not enough free money, differentiate expenses, highlighting the primary ones (while not forgetting the importance of the “experimental” part, which can bring unexpected results).