In the case of a limited budget, which marketing actions yield the greatest returns?
So someone posted this question to a forum I participate in over the weekend:
And it got several answers, most of which I think were kind-of wrong.
I mean, is there ever a case where the Marketing budget isn’t limited?
I’ve never seen it, so an answer can't carve this case out as an exception. And any answer that does should be taken with a huge grain of salt.
In general, marketing budgets should be tiered. You know, what do I do if I have $100? What do I do if I have $1000, etc.), and percentages (which can change by tier) within each tier deployed for specific purposes (creating awareness, creating desire, triggering actions, etc.)
Again, this formula holds whether you have $0 or $100,000,000.
With that in mind, you can now ask the right question:
What should I do if I only have $X to work with, and I'm selling such-and-such a product to this particular market, and I want to achieve so-and-so objective, against a competitive environment that looks like this, and with these available channels to reach my prospects.
Without those parameters, any answer you get is likely to be pretty meaningless.
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