PHASE 5: BUDGET 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 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).
1. Your accounts with the most potential are the focus of most of your marketing budget.
2. Your marketing budget is sufficient enough to enable your company to reach your addressable market.
3. Your marketing budget is allocated against the “sweet spot” of your target market.
4. Your marketing budget is sufficient enough to enable your company to achieve its revenue growth objective.
5. The marketing team utilizes an objectives-based budging method to assure you are focused on the most effective tactics.
6. You actively measure the return generated from your marketing budget investments and adjust accordingly.
7. Your budget spread evenly across your markets or do growth markets receive more funding.
8. You manage your marketing spend to the appropriate level required to outperform your competitors.
9. You have control over your marketing budget and the company prioritizes your marketing needs appropriately.
10. 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