Are you investing 10-20% in marketing?
Successful companies do. Successful companies typically allocate a growing percentage of their total revenue towards marketing and advertising expenses. Is that self-serving advice? YES, if you hire marketing professionals! Is it true? YES, as backed up by experience and research (below)! Of course, this percentage can vary based on the industry, business size, and specific marketing goals.
By industry, here are some reported average expenditure percentages. 1
INDUSTRY MARKETING BUDGET (% OF COMPANY REVENUE)
- Banking/finance/insurance - 9.49%
- Communications/media - 14.27%
- Consumer packaged goods - 25.19%
- Consumer services -11.74%
- Education - 11.50%
- Healthcare - 6.80%
- Manufacturing - 3.75%
- Pharma/biotech - 12.83%
- Professional services - 7.08%
- Real estate - 10.61%
- Retail wholesale - 14.52%
- Service consulting - 21.00%
- Tech software/platform - 11.80%
By devoting a significant portion of their operating budget to marketing and advertising, successful organizations can continuously drive brand awareness, maintain customer and donor loyalty, and drive growth. Are you?
1 Marketing Budget: How Much Should Your Team Spend in 2024? [By Industry]; June 17, 2024; The CMO Survey, Statista, September 2023 release date, 316 respondents
https://blog.hubspot.com/marketing/marketing-budget-percentage#marketing-budget-percentage;
Growing up, we didn’t really have a budget—we had a father. Requests for frivolous items or fleeting joys (no matter how much I begged for candy) were met with a sympathetic smile and a gentle pat on the head. Looking back, I realize dad was teaching me the value of deferred gratification and the art of managing resources wisely. Perhaps that’s also where I learned the importance of investing in what truly matters. In today’s world, content is king, and creating impactful content requires the same discipline my father had: focusing on what’s essential and resisting the temptation to let distractions drain time and money. To clarify, I define “content” as any media that communicates a message. This includes blogs (like this one), podcasts, social media posts, websites, videos, and ads. The best content reveals something genuine about its creator, leaving the audience feeling like they know them better after engaging with it. Great content is relevant, original, authentic, engaging, and actionable. It should inspire the audience to act while resonating with their needs and interests. Informative blog posts, entertaining videos, or engaging podcasts can be developed with creativity and expertise, capturing attention and driving action. Importantly, you don’t need an extravagant budget to create meaningful content. By using cost-effective distribution channels and repurposing content across multiple platforms, you can amplify your message and maximize your reach without overspending. It’s a great mentor/parent lesson: prioritize what matters most, focus your efforts, and invest wisely. Whether in managing a family’s finances or creating communications content, the principle remains the same.
Dear Friends and Clients, Today, I have exciting news to share about the future of 1Vision and a heartfelt milestone for me and for Dani. After 40+ incredible years of advancing products, organizations, and relationships and doing battle with the fearsome Oxford comma, I (Blake) will be retiring from 1Vision’s day-to-day responsibilities as of Feb. 28, 2025. This transition to Dani’s workload has been years in the making and some of you even noticed! 😊 While I will continue as CEO, my focus will shift to retirement and new challenges. "It’s with humble gratitude for the grace of so many that I am at this happy point in my life. It’s been a wonderful ride! ‘They’ say, ‘The best time to plant a tree was 20 years ago. The second-best time is today.’ So, I plan to get busy digging." If you’d like to send me any well-wishes, or instructions concerning a shovel, I’d enjoy hearing from you. Please email me at this address . I have no doubt that 1Vision will continue to thrive under the exceptional leadership and ownership of Dani Gordon, who has proven her ability over the last three years to promote brands and deliver outstanding results. Dani will become President with my retirement and assume all client contact moving forward. Her purchase of the company demonstrates her commitment to our clients and serving their future communication needs. I’m excited to see her grow her vision, gather a team of professionals, and help solve client obstacles. As evidence of the renewed energy and emphasis, take a look at our new site here . Send her congratulations here . Thank you for being part of this journey with us. Raise a glass to an exciting new chapter for Blake, Dani, and the entire 1Vision team. Wishing you all the best and God’s blessing, Blake Conover For the team at 1Vision Communications P.S. This is a good time to update your email records.You can delete Blake’s work email address effective at the end of the month. To reach Dani, use dani@with1vision.com . Thank you!
Like your average Marvel superhero, social media’s power can be used for good or evil! Read on to learn what else they have in common. Social media is a powerful tool for reaching and engaging your target audience. It’s integrated in our lives. (We don’t need a research study to validate that!) Are you using it for your company or organization’s benefit? At 1Vision, we understand the importance of creating a strong social media presence that captivates your audience and drives meaningful interactions. It is that last sentence that I’ll focus on. Captivating your audience and driving meaningful interaction… that’s Ironman’s suit, Captain America’s shield, Thor’s hammer, etc. Every post we make must have the potential of being our best one yet in terms of reposting, commenting, liking, saving, clicks, mentions, DMs, tagging, post duration, responses and other metrics. Oh, did I forget to mention follower-growth, too? Want your social media to cash a Hulk-like shadow? You should begin by conducting a comprehensive audit. Ours would help you assess your current social media channels to identify areas for improvement and opportunities for growth. From there, we develop a customized strategy that aligns with your brand identity, messaging objectives, and target audience preferences. This may include creating engaging content calendars, implementing paid advertising campaigns, and leveraging advanced targeting options to reach specific demographics or interests. Throughout the process, we closely monitor performance metrics and adjust our approach as needed to maximize results and drive continuous improvement. It doesn’t have to be complicated, but it does have to be thorough. Another commonality with Marvel? 1Vision can play the role of Professor X, the wise guide and leader of all the X-Men (that’s you in this analogy) who use their diverse and awe-inspiring strengths to protect humanity.
