Gartner research has revealed that today, barely half of all marketing decisions are made based on data. These decisions are most often the result of a mixture of gut instinct and feelings. In a fragmented marketing landscape, with many possibilities in the mix, it’s the preferences of the most dominant specialists in the teams that are often to blame for this. While, in truth we need a holistic view to achieve the best results with the available budget.
Responsible budgeting for 2025
Marketing teams scrutinise every part of their marketing spend, looking for the best way to justify marketing activities and costs. That’s why marketing plans often fall back into using tried and tested concepts. Sometimes this can be campaigns that worked well over the last 5 to 10 years, but possibly lacked innovation and didn’t necessarily perform well. A successful campaign or high-performance channel does not always achieve a better result with more budget.
But how do you approach budgeting and annual planning in an ever-changing landscape of technology and legislation, coupled with increasing competition and expectations? How do you come up with a successful and easy-to-budget marketing strategy that starts from a new and innovative perspective?
At iO, we use data modelling, a technique that allows you to extract useful insights from intractable data. Thanks to the rise of AI, this approach is no longer just for large organisations with extensive data science departments.
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