10% spend on marketing is non-sense

put objectives ahead of formulas I have never met a marketing manager or business proprietor who did not want to reduce marketing costs or increase the return on the dollars spent. With that in mind, I will start the year with my first 10 THOUGHTS on how to maximise return on investment in marketing expenditure. […]

put objectives ahead of formulas I have never met a marketing manager or business proprietor who did not want to reduce marketing costs or increase the return on the dollars spent. With that in mind, I will start the year with my first 10 THOUGHTS on how to maximise return on investment in marketing expenditure. This is the first. In some circles, 10% is considered the ‘magic number’ (Vital) in terms of marketing budgets. This reflects the school of thought that considers businesses should spend 10% of revenue on marketing. I am not going to dispute the percentage as much as the notion of having a percentage and the suggestion that marketing budgets should be determined on the basis of revenue. Both propositions are non-sense. There is no magic marketing budget formula. Further, this 10% is often cited in relation to promotion, not marketing, which involves much more than promotion.…

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Five Tips For Reducing
The Cost Of Branding.

Burning money on branding is more common than most marketers think. Because few businesses truly understand what a brand is and how branding works, advertising agencies, branding agencies and design studios have become expert at spending their client’s money without effective accountability.

Burning money on branding is more common than most marketers think. Because few businesses truly understand what a brand is and how branding works, advertising agencies, branding agencies and design studios have become expert at spending their client’s money without effective accountability.

1. Get out of the boardroom.

Perhaps the two most concerning issues about branding are the lack of understanding about what brand and branding are and the propensity to develop brands in the boardroom, perhaps with the help of a consultant.....

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