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As we think about budgeting for 2012, we’d like to recommend an important line item that is far too often overlooked. In this time of exponential shifts in marketing efforts, don’t forget to include a place for experimentation.
We’ve seen it done a number of ways within companies. Some take a couple of percentage points off their marketing budget and set them aside. Others pick a number out of the sky. The mindset is as important (and perhaps even more so) as having a number, but the line item seems to force it to be addressed.
The experimental marketing budget reminds marketing heads throughout the year about the importance of testing and learning, trying and tinkering with something new before it’s mainstream. We’ve all witnessed during the past few years how the adoption curve from “cutting edge” to mainstream is getting faster.
The experimental budget also allows you to learn and not be caught flatfooted once the new marketing technique, technology or delivery method becomes widely adopted. Once it’s mainstream, you’re ready and know what to do. Or, you’re able to explain to your organization that it’s been tried and it may not be right for your brand.
In either case, you’re ahead of the game because you’ve invested a small amount to experiment and evaluate success and failure rates before you have to go “all in” on a new marketing method. Experimentation makes the learning process quicker and less expensive while allowing for mistakes to be made and lessons to be learned at a much lower cost.
So when you’re budgeting marketing for 2012, don’t forget to set aside a small amount to experiment with and become more educated as a result.
Jason Therrienis president of thunder::tech, an integrated marketing agency based in Cleveland, Ohio, that provides services in the areas of web, graphic design, interactive media, video, public relations, social media and advertising. To learn more about thunder::tech and the agency's capabilities, please visit www.thundertech.com or call 216-391-2255. To get the latest marketing industry thoughts and random musings from thunder::tech, follow us on Twitter @thundertech.