As we safely reopen Watkins Glen and all of the Finger Lakes, we look forward to safely welcoming you to our communities. Please remember to call ahead: our restaurants, wineries/breweries/distilleries, and attractions have developed location-specific procedures and protocols to ensure that our community, visitors, and employees remain safe and healthy.

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70:20:10 Rule ... Budgets & Content

When you’re planning marketing budgets and content calendars (for social, newsletters, and email marketing), keep the 70:20:10 rule in mind.

  • Allocate 70% of your resources to tactics you know work. These tactics will fall into the business as usual bucket and are considered your bread and butter. 70% of the line items in your budget should have already proven themselves. 70% of the content should tap into material and focus areas that you know successfully support your brand and entice visitors to check out your products and services.
  • Allocate 20% of your resources to informed investigation. In this bucket, you will find content and strategies that you’ve considered and researched. They will carry a bit of risk, because you haven’t tried them before so cannot be assured that they will work, but this risk will be balanced by/offset with the potential to reach a new audience (confirmed because of your research). When successful, these tactics will help to expand your market share.
  • Allocate 10% of your resources for purely experimental activity. Perhaps your competitors are employing these tactics. Or you’ve seen them used in other industries, but no one in your industry has tried them yet. Perhaps they’re so new to the market place that no one has tried them.

 

With this allocation strategy, your organization will be in a position to seize opportunities knowing there is a solid safety net in place.