Phase 8: Budget Strategy and Planning
Allocate your marketing budget to the accounts with the most revenue potential and the highest propensity to spend.
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 requires embracing objective-based budgeting and the precise allocation of your marketing dollars.
- 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 9: Marketing Organizational Design.