What is 50/30/20 marketing budget rule?
Have you heard about it before?
I guess, it’s new to you.
You’re in for a treat. It’s as interesting as it sounds. After reading this, you will know how to smartly allocate your marketing budget for maximum ROI.
While the idea is old but it was made popular by US based Senator Ms. Elizabeth.
This methodology suggests that you spend:
50% on Needs
30% on Wants
20% on Savings
Now, you must be thinking how the heck should I follow this in digital marketing?
It’s simple. My methodology is, you spend:
50% on marketing on traditional digital marketing channels that are known to producing results for you. This is your bread and butter. You should know these channels, if you don’t, then you should start asking your marketing leaders.
30% on what you aim to do with your marketing, an example would be cool branding that will you position as you like to see it; do you want to appear sophisticated, funky or something else? Other than branding positioning, you can also look for marketing you think you should be doing but isn’t because it isn’t your primary source.
20% on something that will help you in rainy days. Think greater content strategy, technology partnerships, collaboration and more.
Tell me, did you like my 50/30/20 marketing budget rule?
If you want to hear more then schedule a free call with me.
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