The importance of balance in marketing often lies in a simple spread of activities – especially for SME’s who cannot afford expensive mistakes but may find that it is cheaper to do a few activities well than one exceptionally well – and much more effective!
This is another example of applying the 80/20 rule – to get most of the result from moderate input and may be linked to how we budget for marketing promotions. For example what is an industry norm for marketing expenditure? Well I don’t know but from experience I would suggest that it is highly variable and probably lies in the range 0.5% to 5.0% of T/O – between those that do very little indeed to those who seek to be pro-active in the market place.
Thus for a small company a moderate promotional budget of £20K pa would get PR, Blog, Social Media and a small advertising package which could be ramped up to £30K to include Adwords and a regional exhibition.
It’s all a question of balance – something we specialise in here at The Industrial Marketing Agency – so if you are wondering how to make your spend go further give us a call to Get TIMA on Your Team!