What’s The Sweet Spot for Media Budget Allocation?
The ongoing question in media buying is how best to allocate a client’s advertising budget. TV? Print? Digital? Is there a perfect formula that churns out results time after time? Well, we can answer that last question right at the top. No, there isn’t. We don’t believe in a one-size-fits-all approach to media planning and buying. There are too many variables that impact how to best spend advertising dollars. Differing locations, varied audiences, and the goals of a particular campaign just to name a few.
As a rule, we use data to inform our decisions and recommendations, not guesswork. And we certainly don’t force all campaigns to fit the same strategy. Take this research from Comcast for example. Comcast analyzed more than 20,000 campaigns from 2021 and found that campaigns that allocated 20-30% of their advertising dollars to streaming services achieved the highest reach. Their analysis concluded that traditional tv should still make up the foundation of media plans complemented by ads placed on streaming services to reach those who don’t watch traditional tv (the cord cutters).
Here at Lewis Media Partners, we consider data like this when we’re putting together campaigns and recommendations. The exact percentages of where your advertising dollars will be spent depends greatly on who we’re trying to reach, and what our call to action is. But this new information from Comcast helps put a range on what the current “sweet spot” for advertising dollars spent on streaming services is, and we’ll take it into consideration as we’re building out advertising recommendations for clients.
(source: The 2022 Comcast Advertising Report)