MASTERING THE MIX: A MODERN GUIDE TO BUDGETING AND MANAGING MULTI-CHANNEL MARKETING
DOI:
10.5281/zenodo.18502810Published:
2025-12-23Downloads
Abstract
In an era of channel proliferation and complex customer journeys, determining the optimal allocation of marketing budgets across diverse platforms has become a central strategic challenge. This study examines the contemporary practices and analytical frameworks for budgeting and managing multi-channel marketing to maximize return on investment. The objective is to develop an integrated model for dynamic budget allocation, cross-channel performance measurement, and agile management in a fragmented media landscape. Employing a mixed-methods approach, the research analyzed financial data from 15 enterprises and conducted 45 interviews with marketing and finance executives. The results reveal that organizations utilizing a test-learn-allocate cycle, supported by unified measurement and agile processes, achieved 22% higher marketing efficiency than those relying on historical allocation. The discussion focuses on the shift from fixed annual budgets to flexible investment frameworks, the critical role of incrementality testing, and the organizational structures that enable effective multi-channel orchestration. It is concluded that mastering the modern marketing mix requires abandoning siloed channel management in favor of a holistic, data-driven, and continuously optimizing approach to resource allocation.
Keywords:
marketing mix modeling, multi-channel marketing budget allocation channel attribution marketing agility.References
Abedi, V. S., Berman, O., Feinberg, F. M., & Krass, D. (2022). Strategic new product media planning under emergent channel substitution and synergy. Production and Operations Management, 31(5), 2143–2166. https://doi.org/10.1111/poms.13670
Batra, R., & Keller, K. L. (2016). Integrating Marketing Communications: New Findings, New Lessons, and New Ideas. https://doi.org/10.1509/jm.15.0419
Beard, F., Petrotta, B., & Dischner, L. (2021). A history of content marketing. Journal of Historical Research in Marketing, 13(2), 139–158. https://doi.org/10.1108/jhrm-10-2020-0052
Beck, B. B., Petersen, J. A., & Venkatesan, R. (2021). Multichannel Data-Driven Attribution Models: A Review and Research Agenda. In Review of Marketing Research (pp. 153–189). Emerald Publishing Limited. https://doi.org/10.1108/s1548-643520210000018007
Berman, S. J. (2012). Digital transformation: opportunities to create new business models. Strategy & Leadership, 40(2), 16–24. https://doi.org/10.1108/10878571211209314
Bharadwaj, A., El Sawy, O. A., Pavlou, P. A., & Venkatraman, N. (2013). Digital Business Strategy: Toward a Next Generation of Insights. MIS Quarterly, 37(2), 471–482. https://doi.org/10.25300/misq/2013/37:2.3
Cappa, F., Oriani, R., Peruffo, E., & McCarthy, I. (2020). Big Data for Creating and Capturing Value in the Digitalized Environment: Unpacking the Effects of Volume, Variety, and Veracity on Firm Performance*. Journal of Product Innovation Management, 38(1), 49–67. https://doi.org/10.1111/jpim.12545
Cui, T. H., Ghose, A., Halaburda, H., Iyengar, R., Pauwels, K., Sriram, S., Tucker, C. E., & Venkataraman, S. (2019). Omnichannel Marketing: The Challenge of Data-Integrity. Social Science Research Network. https://doi.org/10.2139/ssrn.3460580
de Oliveira Santini, F., Ladeira, W. J., Pinto, D. C., Herter, M. M., Sampaio, C. H., & Babin, B. J. (2020). Customer engagement in social media: a framework and meta-analysis. Journal of the Academy of Marketing Science, 48(6), 1211–1228. https://doi.org/10.1007/s11747-020-00731-5
Dolezal, J. (2019). A flight to quality? Why content marketing strategy must evolve. Journal of Brand Strategy. https://doi.org/10.69554/bypt5743
Gao, L. (Xuehui), Melero, I., & Sese, F. J. (2019). Multichannel integration along the customer journey: a systematic review and research agenda. The Service Industries Journal, 40(15–16), 1087–1118. https://doi.org/10.1080/02642069.2019.1652600
Hollebeek, L. D., & Macky, K. (2019). Digital Content Marketing’s Role in Fostering Consumer Engagement, Trust, and Value: Framework, Fundamental Propositions, and Implications. Journal of Interactive Marketing, 45(1), 27–41. https://doi.org/10.1016/j.intmar.2018.07.003
Hollebeek, L., & Macky, K. (2019). Digital Content Marketing’s Role in Fostering Consumer Engagement, Trust, and Value: Framework, Fundamental Propositions, and Implications. Journal of Interactive Marketing. https://doi.org/10.1016/j.intmar.2018.07.003
Huang, C., & Wu, Y. (2024). Research on the Integration of Online and Offline Channels in Marketing. Highlights in Business, Economics and Management, 37, 455–462. https://doi.org/10.54097/c0hnrg87
Huebner, C. (2020). It Only Works if it All Works: An Analysis of Integrated Marketing Communications and its Application for Enrollment Management Marketers. Journal of Marketing Communications for Higher Education, 1(3). https://doi.org/10.6017/jmche.v1i3.12201
Ijomah, T. I. (2025). A Conceptual Framework for Multi-Channel Marketing Optimization, Consumer Behavior, and Conversion Analytics. International Journal of Advanced Multidisciplinary Research And. https://doi.org/10.62225/2583049x.2025.5.2.4011
Isibor, N. J., Attipoe, V., Oyeyipo, I., Ayodeji, D. C., Mayienga, B. A., Alonge, E., & Onwuzulike, O. C. (2025). Analyzing Successful Content Marketing Strategies That Enhance Online Engagement and Sales for Digital Brands. International Journal of Advanced Multidisciplinary Research And. https://doi.org/10.62225/2583049x.2025.5.2.3906
Jenner, V., Soylemez, S., Dzhuras-Dotta, S., & Tsoneva, R. (2022). Why multi-disciplinary, cross-silo teams are best at analysing and actioning data collected along the customer journey. Applied Marketing Analytics: The Peer-Reviewed Journal, 8(1), 79. https://doi.org/10.69554/ieix3590
Katsikeas, C., Leonidou, L., & Zeriti, A. (2019). Revisiting international marketing strategy in a digital era. International Marketing Review, 37(3), 405–424. https://doi.org/10.1108/imr-02-2019-0080
Laverie, D., Humphrey Jr, W. H., & Bolton, D. E. (2018). Integrating Customer Journey Mapping and Integrated Marketing Communications for Omnichannel and Digital Marketing Education: An Abstract. In Developments in Marketing Science: Proceedings of the Academy of Marketing Science (pp. 205–206). Springer International Publishing. https://doi.org/10.1007/978-3-319-99181-8_62
Melero, I., Sese, F. J., & Verhoef, P. (2016). RECASTING THE CUSTOMER EXPERIENCE IN TODAY’S OMNI-CHANNEL ENVIRONMENT. UCJC Business and Society Review (Formerly Known as Universia Business), 50. https://doi.org/10.3232/ubr.2016.v13.n2.01
Mirsch, T., Lehrer, C., & Jung, R. (2016). Channel Integration towards Omnichannel Management: a literature Review. Pacific Asia Conference on Information Systems.
Neslin, S. A. (2022). The omnichannel continuum: Integrating online and offline channels along the customer journey. Journal of Retailing, 98(1), 111–132. https://doi.org/10.1016/j.jretai.2022.02.003
Odongo, I. (2016). Content Marketing: Using it effectively for Brand Strategy and Customer Relationship Management. Advances in Social Sciences Research Journal, 3(12). https://doi.org/10.14738/assrj.312.2396
Pasupuleti, S. P. (2024). Evolving Practices in Marketing Attribution and Media Mix Modeling for Data-Driven Decision-Making. International Journal of Scientific Research in Science and Technology, 11(5), 792–800. https://doi.org/10.32628/ijsrst251313
Plekhanov, D., Franke, H., & Netland, T. H. (2023). Digital transformation: A review and research agenda. European Management Journal, 41(6), 821–844. https://doi.org/10.1016/j.emj.2022.09.007
Rakić, R. B. R. M. R. (2014). Digital Content Marketing For Organisations As Buyers.
Rogers, B. H. (2016). Publish or perish: Why chief marketing officers must become publishers to drive growth. Journal of Digital & Social Media Marketing. https://doi.org/10.69554/vlot8434
Rowley, J. (2008). Understanding digital content marketing. Journal of Marketing Management, 24(5–6), 517–540. https://doi.org/10.1362/026725708x325977
Shah, D., & Murthi, B. P. S. (2021). Marketing in a data-driven digital world: Implications for the role and scope of marketing. Journal of Business Research, 125, 772–779. https://doi.org/10.1016/j.jbusres.2020.06.062
Taiminen, K., & Ranaweera, C. (2019). Fostering brand engagement and value-laden trusted B2B relationships through digital content marketing. European Journal of Marketing, 53(9), 1759–1781. https://doi.org/10.1108/ejm-10-2017-0794
Terho, H., Mero, J., Siutla, L., & Jaakkola, E. (2022). Digital content marketing in business markets: Activities, consequences, and contingencies along the customer journey. Industrial Marketing Management. https://doi.org/10.1016/j.indmarman.2022.06.006
Vaishnav, B., & Ray, S. (2023). A thematic exploration of the evolution of research in multichannel marketing. Journal of Business Research. https://doi.org/10.1016/j.jbusres.2022.113564
Verhoef, P. C., Broekhuizen, T., Bart, Y., Bhattacharya, A., Qi Dong, J., Fabian, N., & Haenlein, M. (2021). Digital transformation: A multidisciplinary reflection and research agenda. Journal of Business Research, 122, 889–901. https://doi.org/10.1016/j.jbusres.2019.09.022
Vollrath, M., & Villegas, S. G. (2021). Avoiding digital marketing analytics myopia: revisiting the customer decision journey as a strategic marketing framework. Journal of Marketing Analytics. https://doi.org/10.1057/s41270-020-00098-0
License
Copyright (c) 2026 Bhayu Bomantara, Lukmanul Hakim, Dahrul Aman Harahap
This work is licensed under a Creative Commons Attribution 4.0 International License.
Downloads
How to Cite
