Size of budget is one of the biggest complaints or protests made by #B2B marketers. “If only we had more #marketingbudget, we could be much more effective,” is the common reframe those clied-side, and it’s not much different from agencies, for obvious and understandable reasons. So it was a big surprise (not least to me!) that AI analysis of data from the 100s of entries to the B2B Marketing Awards demonstrates that actually it is budgets with smaller budgets beat those with larger ones.
Average #ROI on campaigns with budgets of £50k or under was 1850:1, which compares with medium budgets (£50-250k) at 746:1 and for large budgets (£250-£1m) which was 584:1, and enterprise (£1m+) which was 392:1.
Now, of course, the challenges and parameters of running a sub £50k campaigns are dramatically different to running even one with a budget of over £250k. But these figures do demonstrate that it is absolutely possible to have a big impact with a small budget… and suggests that sometimes (whisper it) constraints may drive innovation. In other words, smaller campaigns drive a bigger bang per buck because marketers and agencies responsible have to find creative solutions to make their money go further.
At the same time, I don’t believe there’s a marketer in B2B who doesn’t wish that had a bigger budget and would love the luxury of more headroom or latitude that a bigger budget affords. But marketers in SMEs in particular should rest assured that the grass probably isn’t greener over there (meaning in enterprise marketing land), as was brilliantly evidenced by Sally Croft at Ericsson in her closing keynote at the Global ABM Conference last month. Budget constraint was a massive factor in defining the excellent ‘Moments that matter’ campaign which she showcased, which demonstrates the point about creativity amidst constraints brilliantly.
The lesson seems to be that a bigger budget won’t necessarily make all your challenges go away, or guarantee more success. B2B Marketing #b2bmarketing
Engagement Enthusiast | Communications Professional
2 个月Congrats! ??