By working up to investing in brand building – rather than adhering to the 60:40 rule – are small businesses on the road to success or setting themselves up to fail?
The advice is clear. Companies should spend 60% of their marketing budgets on long-term brand building activity, rather than on ads designed to drive immediate sales, to ensure longevity. However, for many smaller companies that is easier said than done.
Mark Ritson shares 10 hacks for smaller businesses looking to make the most of their marketing budget.
Adidas admits that a focus on efficiency rather than effectiveness led it to over-focus on ROI and over-invest in performance and digital at the expense of brand building.
B2B marketers shouldn’t be spending time and money convincing out-of-market buyers to consider a purchase but instead invest in making every buyer remember their brand next time they need its product.
Entrants now have more time to apply for Marketing Week’s annual celebration of effectiveness, creativity and innovation.
The travel business is aiming for more direct bookings over those generated through paid marketing investment, something that it claims will benefit its P&L.
The juice category has become “commoditised” in recent years, with its leading brands underinvesting in it. Tropicana is aiming to push back against this by dialling up its brand assets, investing in innovation and reconnecting with key occasions.
Dragons’ Den star Deborah Meaden is confirmed for the 11th Festival of Marketing. She will join CMOs and other speakers from the world of marketing and beyond on 3 October.