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Latest Video

Date Live: 5th April 2024

Title: A Calculator that will tell you what to spend on Marketing

Description:

A number of years ago a book was written on how to calculate your Marketing Budgets effectively and where to spend your money. It became the seminal publication on the subject. Les Binet and Peter Field went on to be the "godfathers of effectiveness" in the eyes of the industry.

This week, Optix Solutions' Director of Strategy Thomas Haynes launched a calculator which will, given inputs detailed below, tell you what you should be spending on your Marketing.

This calculator isn't just based on a whim Thomas came up with, it takes the famous book's output, adds some updates from experts across the industry and spits out the figures you need to know. He's a clever chap!

In 2022 Nielsen published a report that said 50% of Media Plans are underinvested in. Assuming this still holds true today, the question is which side do you fall? Now, with this calculator, you can find out.

Simply input your revenue, market type, size of business, pricing models and aspirations for growth (or otherwise) and the calculator will do the rest, providing you with overall budget figures but then going on to suggest the split of that figure across brand and activation marketing (something many marketers don't fully understand).

Use of this calculator comes with a health warning - you'll probably be surprised/scared!

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Action:

It's not a particularly surprising action - Go forth and use the calculator!

As this is based on credible research (all cited in the calculator itself) you can take this to your board, show your workings and ask for more money (oh if only it was that easy!) Quite seriously though, although they may not immediately empty their pockets onto the table in front of you, it will act as a very useful (and credible) yard stick for them and may just get them thinking differently about your budgets in years to come.

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Next Video Due - 19th April - keep an eye out for it

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Don't forget, as members, you can download my new "10 Prompts" eBook here (without any signup process).

If you like it, please help me by sharing the public link (with signup proess): https://bit.ly/10prompts

I'm also running a webinar in May where I'll be going through the Prompts - You can sign up for that here.

..and while you're playing around with the paid version of ChatGPT don't forget to use my custom LinkedIN Trainer to answer all your LinkedIn needs!

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