Brand tracking software company Tracksuit has launched a budget calculator to help businesses more accurately calculate their annual brand and sales activation budgets.
The tool was built using the 60:40 methodology from marketing and advertising effectiveness experts Les Binet and Peter Field.
Tracksuit co-founder James Hurman said: “No one can argue that marketers spend too much of their budgets on performance and too little on brand. What 60:40 does is get marketers thinking in the right direction and our marketing budget calculator is a simple tool to help make budget allocations more accurate.”
The Calculator’s formula is customisable to businesses based on their size, product pricing and category life cycle, and other factors. This means the budget split can be more like 70:30 for some brands, and 50:50 for others, depending on the factors used to calculate the split.
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