They say that money can’t buy you love, and our analysis of Effie winners over the past three years proves that when it comes to marketing campaigns, money doesn’t always buy effectiveness either.
Since 2016, more than 60% of Effie Award winning campaigns had budgets less than $2m. And in 2018, two Gold Effie winners achieved impressive results with a spend less than $500,000 proving that you don’t need to spend big to get big results. You may also be surprised to learn that 90% of Effie winners in 2018 capitalised on the power of TV advertising.
If you plan your campaign well, a little goes a long way. When you’re building your media plan, think about whether reach, frequency or continuity are most important to getting your message across. If it’s reach you need, allocate your spend to ensuring you speak to as many people as possible. Your budget may only stretch to being on air for a couple of weeks so think about which weeks are most critical.
You can always start small. Once you start to see results, you may find your budget allocation increases to do more.