This sounds pretty obvious and I still chuckle today when I recall seeing my first boss in the ad business standing up in client presentations and drawing circles in the air with his fingers as he said “you can’t have objectives this big (large circle) and a budget this big (small circle).” So simple and so true but any company’s marketing/advertising/sales OBJECTIVES discussion really needs to focus on what can be achieved and what can be measured relative to your advertising program. There are plenty of measurable objectives that ultimately impact brand preference and sales but they require smart planning and a budget to achieve them.
- Brand or Product Awareness levels
- Ad Message Recall levels
- Call to distinct 800# or specific salesperson
- Email for more information, newsletter sign up or offer
- Click thru to website or distinct landing page
- Social Media engagement metrics
- Online orders or subscriptions
- Satisfaction survey ratings
- Coupon or offer redemptions
- Attendees at events/shows
When $$$ resources are limited, and they always are, it’s better to concentrate your budget in one area where the budget has the best chance of achieving your objectives and then track/measure the results. As sales grow and more $$$ are available to expand your program, only add to your program if and where you have the best chance of succeeding. It’s always better to do a good job in one area, than spread your budget too thin and do a poor job in multiple areas.