(How to set the marketing budget you’ll need to deliver your performance objectives)
How are your budgets allocated? 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 your marketing performance metrics.
Is this what you are looking for? If so contact us now to discuss how we can help you.
OPPORTUNITY
Marketing is under increased pressure to prove value and deliver results. Some organisations are moving their marketing budget allocation 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 marketing performance metrics and resources is the first step.
OPTIONS
When it comes to marketing budget and performance measures we can assist in a number of ways including:
- Providing industry-based advice on marketing budget allocation and performance
- Assessing and benchmarking the marketing budget against task and performance
- Assisting in the development and implementation of a ZBB approach based on industry benchmarks
Is this something you require? Talk to us here on how we can help.
METHODOLOGY
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.
NEXT STEPS
Contact us here to arrange an initial conversation about how much this solution could change your business for the better. We’d love to help.
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FURTHER READING
Read more on Budget Setting & Performance Metrics here