How are your budgets set? Top down? Or bottom up? Are you using Zero Based Budgeting? The first step in delivering return on marketing investment is setting the level of that investment to support your marketing strategy against performance expectations.
We can assist with providing advice and methodologies for setting your marketing, media and advertising budget requirements and performance metrics.
Marketing is under increased pressure to prove value and deliver results. Some organisations are moving their marketing budget setting process from the popular top down approach to a bottom up or zero based budgeting process. This is to align the marketing budget to the performance or more specifically the return on investment. Rather than seeing this as a strategy to lower marketing investment, it is more productive to embrace this as a way of obtaining the budget to deliver marketing performance and growth for the organisation. Developing and implementing the appropriate performance metrics and resources is the first step.
When it comes to marketing budget and performance measures we can assist in a number of ways including:
Marketing budgets and performance metrics are not analytical or simply financial. There needs to be an appreciation for the strategy in that it defines the financial resources and the performance expectations. We bring an evidence-based, analytical approach balanced with a strategic appreciation of the challenges and the opportunities. We provide the financial rigor balanced with the marketing expertise to develop sustainable performance recommendations.
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