Budget setting is a constant dilemma for marketers, in particular when trying to establish what is the appropriate level of investment that will realistically prompt business change and grow sales. In this article, we suggest that budget setting – and indeed media strategy – needs to incorporate a wide consideration set of touchpoints that include paid, owned and earned media assets. We discuss an empirically based methodology whereby all three can be combined and evaluated so that the path to sales growth can be determined.
A commonly used method for setting budgets is the Jones Model...