Minize Haron’s Post

Is your budget set at the right level this year?   We’ve done the work to establish a good rule of thumb for how to set your advertising budget relative to the size of your business if the objective is to maximise ROI.   The chart is from the ARC database – a joint initiative between the IPA and magic numbers to bring hundreds and hundreds of econometrics findings from 6 econometrics shops together.   It shows the optimal % of turnover you should devote to advertising if you're an online business and you want to maximise ROI. It's about 5%, and for online businesses the ROI is higher at that optimum than it is for bricks and mortar.   But do you know what else we found? It's that the same finding was there in 2 other reputable sources - in Nielsen's ROI study, and in an investigation by Paul Dyson. All three studies landed on spending 5-10% of turnover on advertising for the highest return on investment.   This chart is taken from our course, which is all about putting your money where the magic is. The right size budget and the right mix of brand and performance marketing.   If you like using a benchmark, meta study, or rule of thumb to make the right decisions *and* successfully sell them in to your bosses, learn more on our Scaling Up Works course starting 15th October.   🚩Sign up and read more here: https://lnkd.in/e_9yjfev or email Imogen Howard via [email protected] for group booking or questions. #marketing #data #training

Is your budget set at the right level this year?   We’ve done the work to establish a good rule of thumb for how to set your advertising budget relative to the size of your business if the objective is to maximise ROI.   The chart is from the ARC database – a joint initiative between the IPA and magic numbers to bring hundreds and hundreds of econometrics findings from 6 econometrics shops together.   It shows the optimal % of turnover you should devote to advertising if you're an online business and you want to maximise ROI. It's about 5%, and for online businesses the ROI is higher at that optimum than it is for bricks and mortar.   But do you know what else we found? It's that the same finding was there in 2 other reputable sources - in Nielsen's ROI study, and in an investigation by Paul Dyson. All three studies landed on spending 5-10% of turnover on advertising for the highest return on investment.   This chart is taken from our course, which is all about putting your money where the magic is. The right size budget and the right mix of brand and performance marketing.   If you like using a benchmark, meta study, or rule of thumb to make the right decisions *and* successfully sell them in to your bosses, learn more on our Scaling Up Works course starting 15th October.   🚩Sign up and read more here: https://lnkd.in/e_9yjfev or email Imogen Howard via [email protected] for group booking or questions. #marketing #data #training

Is your budget set at the right level this year?   We’ve done the work to establish a good rule of thumb for how to set your advertising budget relative to the size of your business if the objective is to maximise ROI.   The chart is from the ARC database – a joint initiative between the IPA and magic numbers to bring hundreds and hundreds of econometrics findings from 6 econometrics shops together.   It shows the optimal % of turnover you should devote to advertising if you're an online business and you want to maximise ROI. It's about 5%, and for online businesses the ROI is higher at that optimum than it is for bricks and mortar.   But do you know what else we found? It's that the same finding was there in 2 other reputable sources - in Nielsen's ROI study, and in an investigation by Paul Dyson. All three studies landed on spending 5-10% of turnover on advertising for the highest return on investment.   This chart is taken from our course, which is all about putting your money where the magic is. The right size budget and the right mix of brand and performance marketing.   If you like using a benchmark, meta study, or rule of thumb to make the right decisions *and* successfully sell them in to your bosses, learn more on our Scaling Up Works course starting 15th October.   🚩Sign up and read more here: https://lnkd.in/e_9yjfev or email Imogen Howard via [email protected] for group booking or questions. #marketing #data #training

Is your budget set at the right level this year?   We’ve done the work to establish a good rule of thumb for how to set your advertising budget relative to the size of your business if the objective is to maximise ROI.   The chart is from the ARC database – a joint initiative between the IPA and magic numbers to bring hundreds and hundreds of econometrics findings from 6 econometrics shops together.   It shows the optimal % of turnover you should devote to advertising if you're an online business and you want to maximise ROI. It's about 5%, and for online businesses the ROI is higher at that optimum than it is for bricks and mortar.   But do you know what else we found? It's that the same finding was there in 2 other reputable sources - in Nielsen's ROI study, and in an investigation by Paul Dyson. All three studies landed on spending 5-10% of turnover on advertising for the highest return on investment.   This chart is taken from our course, which is all about putting your money where the magic is. The right size budget and the right mix of brand and performance marketing.   If you like using a benchmark, meta study, or rule of thumb to make the right decisions *and* successfully sell them in to your bosses, learn more on our Scaling Up Works course starting 15th October.   🚩Sign up and read more here: https://lnkd.in/e_9yjfev or email Imogen Howard via [email protected] for group booking or questions. #marketing #data #training

Measurement’s a mess! Nearly two thirds of advertisers in the UK and USA still rely on last click attribution to optimise campaigns. And that’s not just a little bit sub-optimal. It’s very costly.💰 If you choose using last click, you miss channels that work earlier in the purchase journey, even when they are the best thing for you. The middle pie is data from Analytic Partners – it shows that with last click, you miss out on 35% of possible sales achievable for your budget. We get it, it’s understandable, last click is sticky. Perhaps you’ve made decisions using it in the past and it would be a climb down to change them now. Or, maybe it’s just that the numbers are always there and changing for something else would mean less or slower access to intel. But it gets the answer wrong. It’s no wonder the right-hand pie shows 40% of marketers are worried about measurement. If you’re one of them, and you want a simple run down of why it’s a problem, how to fix the mistakes your business might have made in the past, and what to do instead, you need our course Scaling Up Works. 🚩 It starts 15th October, and you can sign up here: https://lnkd.in/et_CWuTF. For group bookings or questions, contact Imogen Howard via [email protected] For marketing analytics and econometrics consultancy contact [email protected] #marketing #data #training

Measurement’s a mess! Nearly two thirds of advertisers in the UK and USA still rely on last click attribution to optimise campaigns. And that’s not just a little bit sub-optimal. It’s very costly.💰 If you choose using last click, you miss channels that work earlier in the purchase journey, even when they are the best thing for you. The middle pie is data from Analytic Partners – it shows that with last click, you miss out on 35% of possible sales achievable for your budget. We get it, it’s understandable, last click is sticky. Perhaps you’ve made decisions using it in the past and it would be a climb down to change them now. Or, maybe it’s just that the numbers are always there and changing for something else would mean less or slower access to intel. But it gets the answer wrong. It’s no wonder the right-hand pie shows 40% of marketers are worried about measurement. If you’re one of them, and you want a simple run down of why it’s a problem, how to fix the mistakes your business might have made in the past, and what to do instead, you need our course Scaling Up Works. 🚩 It starts 15th October, and you can sign up here: https://lnkd.in/e9h5H3vy. For group bookings or questions, contact Imogen Howard via [email protected] For marketing analytics and econometrics consultancy contact [email protected] #marketing #data #training

Measurement’s a mess! Nearly two thirds of advertisers in the UK and USA still rely on last click attribution to optimise campaigns. And that’s not just a little bit sub-optimal. It’s very costly.💰 If you choose using last click, you miss channels that work earlier in the purchase journey, even when they are the best thing for you. The middle pie is data from Analytic Partners – it shows that with last click, you miss out on 35% of possible sales achievable for your budget. We get it, it’s understandable, last click is sticky. Perhaps you’ve made decisions using it in the past and it would be a climb down to change them now. Or, maybe it’s just that the numbers are always there and changing for something else would mean less or slower access to intel. But it gets the answer wrong. It’s no wonder the right-hand pie shows 40% of marketers are worried about measurement. If you’re one of them, and you want a simple run down of why it’s a problem, how to fix the mistakes your business might have made in the past, and what to do instead, you need our course Scaling Up Works. 🚩 It starts 15th October, and you can sign up here: https://lnkd.in/et_CWuTF. For group bookings or questions, contact Imogen Howard via [email protected] For marketing analytics and econometrics consultancy contact [email protected] #marketing #data #training