‘Spend it wisely’, the wizzard said ‘and reach for the stars’.
‘Oh, no worries boomer’ replied the hipster apprentice, ‘no magic needed for my gilt-edge spending plan, it is mind blowing – guaranteed’.
Both shook their beards – each in their own age.
Marketing is about art and science. Spending media budgets wisely is – fair enough – less about creativity, making meaning and realising magic and a bit more about craft, the ‘how to’ and analytics. Of couse it is ok (by me) to wrap that in compelling and inspiring words.
The underlying patterns of optimal media budget allocation by succesful brands, have been revealed by Les Binet and Peter Field in three consecutive publications from 2014 up to 2018. These methodologically demonstrate that also during the coming of age of ‘online’, succesful brands spend their budgets in a 60:40 ratio for brand and activation campaigns.
Over 2,000 campaigns are part of the benchmark that has been organised by the IPA in the UK and that has been analysed by Binet & Field, supported by a broad range of media industry players amongst which Google.
Two important developments I have to mention. The meanwhile matureness of online has led to:
(1) An even higher effectivity of mass media types and of TV in particular;
(2) An optimal shift from 60:40 for brand and activation to even 70:30.
These are just two conclusions from thorough and expanded research, published in Media in Focus (2017) and Effectiveness in Context (2018). In the latter even analysis on markets, categories and brand stages have been included. As with all people, the apprentice is definitely rather lazy than tired. If you – like that slightly lackadaisical but still sophisticated hipster – would be able to use these publications as your media budget spell book, you might be surprised by the mind blowing results. Maybe a touch of magic after all.