![]() A budget communicates all kinds of things between marketers, both about the bigger picture of where money will be invested and the day-to-day status of those funds. In essence, a marketing budget has just one purpose: communication. Marketing Budget Reallocations and Transfers.Marketing budgets should track every marketing dollar to ensure that money isn’t being wasted on initiatives that aren’t advancing company objectives.Įvery organization’s marketing budget process is a little different, but these general recommendations apply to the majority of marketing teams. Your marketing budget is your greatest tool to prevent spend-induced chaos. They organize and enable all the programs and activities you’re executing in a given quarter or year that best accomplish your marketing strategy and, of course, what it’ll cost. They usually include historical spend, plans, targets, actual spend, and forecasts, all to ensure that you can keep track of your dollars. Marketing budgets serve as your hub for all investment numbers. In this third and final installment in our mini-series on marketing budgeting, we’ll focus on the day-to-day aspects of working with your team’s marketing budget.īefore we dive into managing your own, let’s quickly recap the basics of a marketing budget. Part 3: Best Practices for Managing Your Marketing Budget Part 2: Best Practices for Building Out a Marketing Budget Part 1: Best Practices for Organizing Your Marketing Budgets ![]() ![]() Welcome! This post is part three of a three-part series on building and managing a marketing budget. ![]()
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