phase 5: budget planning
Underfund marketing and you will constrain revenue growth. Overfund marketing and your profits will suffer. Peanut butter spread a marketing budget across all segments, accounts and buyers and you will run out of money quickly without showing results. Revenue growth is maximized with an objective-based budget and the precise allocation of all marketing dollars. This enables your company to focus on strategies and activities that will maximize your Return on Marketing Investment (ROMI).
- Your accounts with the most potential are the focus of most of your marketing budget.
- Your marketing budget is sufficient enough to enable your company to reach your addressable market.
- Your marketing budget is allocated against the “sweet spot” of your target market.
- Your marketing budget is sufficient enough to enable your company to achieve its revenue growth objective.
- The marketing team utilizes an objectives-based budging method to assure you are focused on the most effective tactics.
- You actively measure the return generated from your marketing budget investments and adjust accordingly.
- Your budget spread evenly across your markets or do growth markets receive more funding.
- You manage your marketing spend to the appropriate level required to outperform your competitors.
- You have control over your marketing budget and the company prioritizes your marketing needs appropriately.
- Your budget is aligned with the strategic objectives of your go-to-market engine (i.e. Marketing, Sales, and Customer Success).
- Budget Method Identification
- Return on Marketing Investment (ROMI) Analysis
- Programs and Resource Sizing
- Budget Audit