The 70-20-10 rule in digital marketing is a tactical guideline to balance your marketing strategy between established methods, emerging opportunities, and experimental initiatives. By distributing your efforts in this way, you can ensure both consistent performance and innovative growth.
Breaking Down the 70-20-10 Rule
70% – Proven, Core Efforts
- Focus: Put the majority of your resources into tactics that are tried and true.
- Examples: Reliable efforts may include regular content updates, ongoing SEO optimization, and proven ad placements.
- Why?: This portion anchors your marketing strategy, ensuring sustained return on investment (ROI) and brand stability.
20% – New Opportunities
- Focus: Use a portion of your budget to explore fresh ideas within your existing frameworks.
- Examples: Testing new social media platforms, introducing fresh content types like video series, or using programmatic advertising.
- Why?: This fosters incremental growth, giving you room to evolve without excessive risk.
10% – Experimental Initiatives
- Focus: Allocate a small slice of your budget to wholly innovative ideas.
- Examples: Engaging with emerging technologies such as augmented reality in marketing campaigns or tapping into niche social trends.
- Why?: High-risk ideas can lead to breakthrough successes that redefine your marketing strategy.
Implementing the 70-20-10 Rule
Applications in Marketing
- Content Strategy:
- 70% on reliable content formats like blogs and tutorials.
- 20% on engaging yet safe innovations like webinars.
- 10% on radical ideas such as augmented reality experiences.
- Social Media Approach:
- 70% on regular, value-driven content.
- 20% on new, engaging interactions like polls.
- 10% on trend-riding and viral content.
Why Adopt This Rule?
- Stability and Growth: Combines consistent result-delivery with room for innovation.
- Efficient Allocation: Prioritizes resources effectively across functions.
- Agility: Encourages nimbleness in the face of shifting trends.
Key Things to Remember
- Regularly assess your performance to adjust the balance as needed.
- Ensure the framework aligns with your overall marketing goals.
- Encourage team buy-in by articulating the benefits of diversified efforts.
The 70-20-10 rule aids in creating a balanced digital marketing strategy that harnesses the power of steady practices, adaptation, and daring innovation. Implementing this approach can lead to not just surviving but thriving in an ever-evolving digital marketplace.