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Putting all of Your Budget in One Asset

11/2/21 2:02 PM

The famous saying goes, "don't put all your eggs in one basket," because what happens if something goes wrong with that basket? What happens to your eggs?

And you wouldn't invest your entire life savings into one individual company's stock because what happens when something goes wrong with that company? You get left behind and often hurt.

The same logic applies to your marketing strategy and where you choose to spend your marketing budget. A well-built marketing strategy has a healthy mix of assets involved, where the ability to remain flexible and dynamic is at the forefront. Those various assets can then be leveraged across different tactics to work toward your business objectives.

When the market or the regulatory environment changes, you will be more nimble to stay ahead of the changes.

At the same time, you don't want to spread resources too thin to the point where you aren't making the impact you seek. Better to start targeted to see how your initial ideas perform and grow toward the results.

Start small, test and learn. 

Topics: Marketing Strategy

Austin Schneider

Written by Austin Schneider

Austin has built his experience around the world in digital marketing, business development and client service. He loves the fast pace of working in sports business and is always excited to collaborate on new projects. An avid motorsports fan of all types, the global and exact nature of F1 is still his favorite.