70-20-10: Here’s an effective rule for getting the most out of your digital marketing strategy! [Monday: Marketing Marvels]
Miles Everson’s Business Builder Daily speaks to the heart of what great marketers, business leaders, and other professionals need to succeed in advertising, communications, managing their investments, career strategy, and more.
A Note from Miles Everson:
Happy Monday, everyone!
Are you ready to kickstart another awesome week?
Let’s start this day with a dose of motivation. Every Monday, we talk about “Marketing Marvels,” or outstanding people in the business and marketing industries. Here, we highlight these people’s contributions, experiences, and insights.
In today’s article, we’ll talk about another marketing strategy implemented by Avinash Kaushik, Digital Marketing Evangelist at Google.
Keep reading to know more about this method and how you can use it for your brand’s digital marketing strategies.
Miles Everson
CEO, MBO Partners
Chairman of the Advisory Board, The I Institute
Marketing Marvels
In a past “Marketing Marvels” article, we talked about Avinash Kaushik and his Care-Do-Impact Storytelling Strategy.
According to him, storytelling through numbers plays a significant role in research and data because it gets businesses and clients to think differently.
He says through the Care-Do-Impact strategy, business owners, leaders, and marketers can focus on creating genuine value for clients and customers, and effectively connect with them.
Today, we’ll discuss another marketing technique he implements at Google.
The name of that technique?
The 70-20-10 digital marketing rule!
Photo from Smart Insights
Kaushik says with new marketing tools and techniques being made available almost daily, it can be difficult to know where to prioritize your marketing activities to get the “bang for your buck.”
—it’s either you choose the right strategies or get lost in the sea of many other awesome content or efforts from other businesses.
According to Kaushik, in times like this—or even when your brand is at the peak of success—the 70-20-10 rule truly helps.
Why?
It helps you and your team think through how you should properly manage your time and budget into different marketing activities.
Kaushik says the 70-20-10 model is flexible and can be applied to different areas of digital marketing. Here’s how you can use this rule in 3 key aspects of your brand’s marketing strategy:
- The 70-20-10 Strategy in Digital Marketing in General
It’s good to stick to the tried-and-tested marketing methods that worked so well in the past. However, Kaushik says lack of agility can also lead to the downfall of some businesses.
Here’s how you can apply the 70-20-10 strategy in digital marketing:
- 70% of your strategy should be “marketing as usual.” This means focusing on the methods that have driven great sales for your brand in the past years.
- 20% of your strategy should be “programmatic.” This is more rules-driven and automated in response to various stimuli.
- 10% of your strategy should be “purely responsive.” This is where real-time marketing happens, such as responding to customer inquiries ASAP.
Doing this compartmentalization will help your business thrive even in the midst of a constantly changing business environment.
- The 70-20-10 Strategy in Content Marketing
When applied to content marketing, Kaushik says the 70-20-10 model should be broken down into different types of content as follows:
- 70% – For proven, effective content that supports in building your brand, attracting visitors to your website, etc.
- 20% – For content that could be more costly or risky but has a huge potential for attracting new audiences. This includes viral videos or infographics.
- 10% – For more experimental content.
Applying this rule in your content marketing strategy will help you build a solid, reputable knowledge base for customers, and provide content that is interesting, fun, and sometimes, unorthodox.
- The 70-20-10 Strategy in Social Media Marketing
In doing social media marketing, the usual question that pops out is this:
“What type of content should I post?”
According to Kaushik, the 70-20-10 rule helps you answer that question by allowing you to structure your social media posts/updates, enabling your company to be reputable while simultaneously engaging with your target audience.
Here’s a breakdown of how you should structure your social media posts:
- 70% – For proven social media content/posts that support in building your brand.
- 20% – For content created by your target market or experts within your niche. This includes sharing or commenting on interesting and relevant articles/posts written by someone and tagging that person.
- 10% – For posts that are call-to-action in nature such as sales, discounts, introduction of new offerings, etc.
Kaushik says this method is applicable when advertising your brand on Facebook, Instagram, Twitter, LinkedIn, or any other social media platform your brand is on.
As you can see, the 70-20-10 model is adaptable. That’s its beauty—it can be applied to different aspects of marketing, especially when you’re budgeting time and resources!
According to Kaushik, this is not a hard and fast rule. You can use this technique as a basis when discussing marketing strategies with your team. He says once you see the results of applying the 70-20-10 rule, you’ll enjoy the process even more and build competitive advantage for your business.
In his words,
“70% of the time, we’re going to focus on things that we know that are very core to our business. 20% is where we’re trying to push the boundaries. You get into the known unknowns. The last 10% is truly crazy, experimental stuff. But with every success, you build a competitive advantage.”
Apply Kaushik’s 70-20-10 strategy to your own business and marketing tactics!
Keep in mind that if you focus the majority of your efforts on building or maintaining your brand, you’ll properly allocate the rest of your efforts on ensuring you resonate with your target market logically and emotionally.
… and by focusing a large percentage of your marketing budget and resources on proven success, you can risk some of the remainder on areas of potential, which may be highly profitable for your brand in years to come.
We hope you learned a lot of great business and marketing insights from today’s “Marvel” and his strategy!
(This article is from The Business Builder Daily, a newsletter by The I Institute in collaboration with MBO Partners.)
About The Dynamic Marketing Communiqué’s
“Monday Marketing Marvels”
Too often, industry experts and the marketing press sing the praises of some brand or company’s marketing strategy.
… only for the audience to later find out that its product was a flop, or worse, that the brand or company went bankrupt.
The true ROI in marketing can’t be separated from the business as a whole.
What good is a marketing case study if one can’t prove that the company’s efforts actually paid off?
At the end of the day, either the entire business is successful or it isn’t. And the roles of marketing and communication are always paramount to that success.
Every Monday, we publish a case study that highlights the world’s greatest marketing strategies, marketers, and communicators.
However, the difference between our articles and the numerous ones out there is that we will always make certain that the firm really did generate and demonstrate earning power worthy of study in the first place (compliments of Valens Research’s finance group) in keeping with a person’s leadership skills in the area of marketing and/or communication.
We’ll also study the greatest marketing fails and analyze what they did wrong, or what they needed to improve. We all make our mistakes, but better we learn from others’ mistakes—and earlier, rather than later.
Hope you found this week’s marketing marvel interesting and helpful.
Stay tuned for next week’s Monday Marketing Marvels!
Cheers,
Kyle Yu
Head of Marketing
Valens Dynamic Marketing Capabilities
Powered by Valens Research
www.valens-research.com
