The biggest mistake most companies make is not building enough research budget into the overall advertising budget, thereby building campaign knowledge to effectively judge the current campaign and create a benchmark for the next one. Roughly 10% of campaign funds should be put aside for research.
HOW TO REASEARCH THE ADVERTISING BUDGET
Generating effective campaigns, pan-brands in consultation with other marketers and management. Building knowledge of all possible on- and offline media channels. Recruiting and building relationships with a roster of agencies with specialisms in selected channels. Working with media planners at agencies to develop cost-effective plans to achieve brand strategies. Monitoring agency "actuals" versus plan. Setting up appropriate qualitative and quantitative research programmes to monitor agency and campaign effectiveness, and benchmark achieve- ments. Feed back campaign analyses to stakeholders. Stakeholders Customers Suppliers CEO Marketers Roster agencies Marketing directors PR executive Research companies Sales team Telesales agents