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Marketing Budget Allocation

by Jessie Ann
10 replies
Just curious for all you fellow marketers out there who manage a budget, what percentages of your budget do you spend on print vs. digital?
#allocation #budget #marketing
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  • Profile picture of the author Highest And Best
    Jessie,


    Any answers to that question without further inquiry will lead to erroneous results. That's because print vs. digital will depend on variables such as:
    • Niche
    • Targeted demographic
    • Age, gender, income, etc.
    • Season / time of year
    • Product or service type
    • ...and so much more
    If you are selling maternity clothing, your budgeting would be very different from a restaurant catering to business lunches.


    -Scott
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  • Profile picture of the author shawnlebrun
    Originally Posted by Jessie Ann View Post

    Just curious for all you fellow marketers out there who manage a budget, what percentages of your budget do you spend on print vs. digital?
    Jessie,

    It all depends on where your ideal customers are located, what
    they do, what they read, etc...

    Are they older and still read newspapers and magazines?
    If so, perhaps display print ads will work.

    Are they hanging out on Facebook or Instagram?
    Then Facebook ads or posting valuable content on social media
    may work well.

    It always comes down to where your ideal prospects are hanging out
    or tend to congregate.

    If they hang out in a specific location, read a specific type of magazine,
    or you know where else they tend to go/visit/congregate... that will
    help you decide how much to allocate to print/digital.

    I have clients who use JUST digital and clients who use JUST print,
    and then a mix of both.

    It's always dependent on where your niche hangs out and congregates.
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    • Profile picture of the author GordonJ
      Originally Posted by shawnlebrun View Post

      Jessie,

      It all depends on where your ideal customers are located, what
      they do, what they read, etc...

      It always comes down to where your ideal prospects are hanging out
      or tend to congregate.
      Thanks Shawn,

      This is the first half of it. And should be the starting point for many marketers. TARGET, the WHO and WHERE.

      But, the second part, the critical PART, is how you INTERSECT with them.

      It is the WHAT you say to them, and HOW.

      As Shawn points out, older folks might intersect with your PROMOTION in the paper.

      Some might intersect with your promotion via Youtube (video), or Podcast (audio), or via a picture or meme. Or a post on a blog, or an email.

      So, the best budget spend is...and begins with knowing who your customer is, or should be, where they hang out, definitely, AND if they have a preference for the type of media, and what and how (if any) past buying decisions they have made.

      Here at the WF, we all too often see the MARKETING, the budget, and the promotion considered as the last step in the process.

      I almost always make my students write out a PROMOTION first, for their product or service along with the question: WHERE will you place your promotion?

      The IDEAL placement of a good promotion is on THEIR tracks, where THEIR train is already speeding along.

      Spend TIME doing as Shawn suggested, getting the WHERE down, and then spend more TIME, getting the promotion to synchronize with the where/who.

      And THEN you have your answer to the budget spend.

      GordonJ
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  • Profile picture of the author cgeorg07
    As detailed by shawnlebrun, it all depends on what kind of business do you run. I personally run online blogs and businesses that don't need print advertisement as of now.

    So, my complete marketing budget is spent on paid ads, PPC, guest posts, and other online marketing methods.

    If your customer base is offline users, you should spend more on print advertising.
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  • Profile picture of the author luciesmazanska
    I would do A/B testing spend 50/50 and test which converts or works better
    then scale it up and focus just on one
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  • Profile picture of the author adam green
    It depends on your locality & the niche you are targeting. On the whole, you can allocate 50/50 or 40/60 depending on how educated your prospected customers are.
    Plus depends on what sort of media or marketing platform you are using. As some media are much cheaper while others( foamex borad printing) are way too effective in putting your message before the right audience.
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  • Profile picture of the author dave_hermansen
    If it's just a website, zero on print and 100% on digital. I promise you because we've tried it all, print will get you a big fat ZERO if it is just a website.

    If you have a retail store and website, it's a totally different thing. Do you have a retail location or local business that people can visit and purchase your goods or services?
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  • Profile picture of the author agmccall
    You should set up your budget based on the needs of your company and not how others allocate their funds

    al
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    • Profile picture of the author Frank Donovan
      Originally Posted by agmccall View Post

      You should set up your budget based on the needs of your company and not how others allocate their funds
      Not only that, but you'd be restricting yourself unnecessarily by splitting your budget in such a way. These days, most businesses need a cross-media marketing strategy, with funds allocated according to effectiveness.
      .
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  • Profile picture of the author johnben1444
    My budget is clearly different from yours.
    If you work with my budget you may fall short of the desired result or have a bloated expense.
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