Phase 3: Budget Planning
In the budget planning phase, SBI helps your company determine the budget needed and how to allocate it to attain your goals.
You don’t know where to spend your dollars.
Have you ever had a budget that’s too large? Most of us haven’t. With limited budgets, it’s critical to wisely invest the dollars you have in programs that produce revenue – so your budget doesn’t get slashed in the future. How do you know what investment will produce the desired results?
- Budget method
- Percentage of revenue
- Competitive based method
- Objective method
- Affordable method
- KPI mapping to objectives
- Return on Marketing Investment (ROMI)
- Approved budget
- Approved headcount
- Budget dashboards
To learn more about the next phase of the marketing strategy process, visit Phase 4: Data Planning.