Budgeting is a key tool when devising and implementing a marketing strategy. It helps in deriving sales forecasts, allocating resources, monitoring cash flow, evaluating performance, and a lot more. So, are YOU setting and monitoring your budgets as optimally as possible?
To assist us, HubSpot has just published “
- Master Marketing Budget Template
- Product Marketing Budget Template
- Content Budget Template
- Paid Advertising Budget Template
- Public Relations Budget Template
- Branding & Creative Budget Template
- Web Site Redesign Budget Template
- Event Budget Template
Read more about each template by clicking the image.
Marketing budgets in 2015 are expected to grow, in some cases, for the first time in years.
As Nicola Cooper reports for Responsys:
“The Econsultancy Marketing Budgets Report 2015, created in association with Oracle Marketing Cloud, delves into marketers’ expected spend for the coming year and is a great opportunity to see whether you are facing similar challenges to the rest of the industry and inform your priorities for the year.”
“Because a customer’s decision to buy now involves many interactions with a brand, delivering an orchestrated approach is essential for any brand to attract and retain customers. It’s clear that our industry is aware of this; this year’s report indicates that nearly three quarters (74%) of the companies surveyed believe they are working towards delivering unified customer experiences, rather than standalone campaigns or interactions. In addition, 71% of the companies surveyed say that they are focusing on ‘breaking down internal silos to better co-ordinate and integrate [their] marketing efforts’. Marketers are unifying marketing strategy as well as unifying the marketing teams delivering those campaigns.”
“More generally, the findings also indicate that marketers are more likely to be increasing overall budgets for the year ahead than at any time since the launch of our first Marketing Budgets Report in 2010, during the height of the economic crisis. Winning areas include marketing technologies and digital marketing, as a result of stronger boardroom support.”
Click the image to read more.
Gartner, a marketing research company, recently conducted a survey on companies’ use of marketing. Overall, Gartner found that the companies studied spent 10.4 percent of their total revenues on marketing. The percentage ranged from 9.1 for high-tech firms to 12.7 for media firms.
With regard to digital marketing, Gartner found that: “The majority spends between 10% and 50% of their marketing budget on digital marketing activities — the average is 25%.” This means that the companies surveyed spend an average of 2.5 percent of their total revenues on digital marketing. For some firms, this amount is higher than than net profit margins!!
Click the chart to learn from Gartner.