Marketing Planning: how to plan a budget for your actions
Posted: Tue Dec 03, 2024 9:54 am
Having a good marketing plan is crucial for your actions to work and get as close as possible to the expected results, and having a budget planned for this sector makes all the difference in knowing where efforts and investments will be directed.
It is common that, as the year comes to an end, companies begin their plans for the next year and the budget is one of the first topics to be discussed, after all, it is the budget that will guide all marketing planning for the future.
Converting your plan into numbers and understanding what is viable or not for your business is crucial, but this is a challenge for many organizations. How have you been looking at your budget and marketing planning? We have gathered essential tips to help you get it right this time!
Marketing budget and planning
The marketing budget is a document that aligns your advertising and promotion strategies with the reality of your financial situation. This planning is the time to look at your strategies and actions in numbers.
Budgeting is never easy or 100% accurate, after all, many items are based on forecasts. This is because it is not possible to predict how much your suppliers will increase their prices, it is not possible to predict the exact value of the dollar (if you use international tools that are based on conversions) and many other unpredictability factors can occur during the cycle.
However, this doesn’t mean that your business shouldn’t consider its budget and marketing planning, right? There are no rules or correct ways to set up your budget, but good practices are essential to ensure that it is as effective as possible. Check out some of them!
Know and understand your company's current situation
Of course, in the ideal scenario, marketing planning should be highly valued and receive good investment from businesses, after all, it is what will return a lot to your company and make profits grow.
However, you need to be realistic and understand your business and the current situation. Just because your competitor invests x million doesn't mean your organization needs to do the same.
This is the time to look inside yourself before starting any planning, understand what is working and what is not, what the results were from the last budget and how the sector is growing in your company.
Every company has its own marketing moment, after all, this is a structure that relies on several strategies, flows, plans and actions. If you are at the beginning of this implementation, for example, you can't invest in all aspects at once, right? Therefore, understand your company, where it is and where it wants to go.
Analyze the history and growth of your sector
Marketing is a sector that provides returns for the business and dubai business fax list it is necessary to monitor this return to understand how much your investment actually makes sense. Marketing planning involves data and numbers so that you can make new projections and budgets that are increasingly assertive.
Therefore, analyze data, make comparisons, look at the past, consider sales targets, understand how much each action returned and base yourself on realities and not just guesses or assumptions for this planning.
Look at your contracts and partners
Each contract and service has a specific contract period and its renewals involve costs that are not fixed, therefore, it is necessary to leave room in your budget and marketing planning.
Look at contracts, understand at what times of the year renewals occur, think about what makes sense or not to follow in your strategy and have this value planned, after all, you can't fail third parties, right?
Include new tools and technologies
Understanding what your business already has is necessary, just as it is necessary to look to the future and plan investments and trends. Marketing constantly requires updates, tools and structures so that your business continues to perform and deliver results.
To do this, it is crucial to look at trends and understand what makes sense for your business so that it is already on your radar and in your financial planning for future implementations.
When we talk about tools and technologies, it is interesting to look at all aspects of the process, research the market, understand the needs of your people and create solutions within the company. We have selected 2 technologies that may make sense to include in your budget if your business does not already have them!
Chatbots and artificial intelligence
Chatbots are software capable of answering questions and answers pre-programmed into their system and with updates to artificial intelligence they become increasingly sophisticated and capable of identifying language, intention, mood, positive or negative feelings and making the conversation more humanized and closer to reality .
With it, marketing strategies gain in several aspects, after all, these tools can be implemented in different channels and moments of the customer journey.
Digital Asset Management (DAM)
Marketing is a sector that produces a lot of content and demands many needs and requests for creation, review, redoing, sending and exchanging this content, right?
A major problem faced by many teams is precisely in managing this digital content. After all, without organization, demands get lost in folders, emails, WhatsApp conversations and control over what is being done or used is no longer efficient.
With the growing amount of demands and content, or digital assets of these teams, the need for management also grows and this is precisely why Digital Asset Management (DAM), the Digital Asset Manager , has become an increasingly present trend in the sector.
These are platforms for storing, organizing and managing digital assets for businesses. In other words, more than just creating content and putting it in folders or sending it by email, with this type of technology, marketing and the company in general gain insight into what is being done, everyone knows where and how to find what they need, and time and productivity are no longer wasted due to a lack of management of such materials.
Much more than a data storage, this is a complete digital asset manager and makes all the difference for marketing planning.
Think about people
Marketing planning is not just about looking at processes and tools, but you need to think about your people, after all, they are the ones who will carry out your actions.
Review salaries and positions, understand how much you want to grow in the sector and plan possible hires. More than that, put corporate education and training on your radar, after all, learning in this sector must be constant for better results.
Have indicators to monitor the definitions
Budget planning is not just about defining how many reais will be allocated to your marketing, but also requires indicators and return on investment calculations to justify the values and see results.
Therefore, even in this plan, you need to know what your metrics are and link them to your objectives, whether it be increased sales, reduced errors, increased leads, engagement, among others.
It is important to note that the goal should not be too open. Define plausible and visible numbers and results so that each indicator is actually achieved with your training throughout the year.
When observing each of these points, it is necessary to calculate and define investments according to the possibilities of your business so that training becomes part of the employees' routine.
Distribute intelligently
When defining a budget based on everything that has been discussed so far, it is important that you distribute your funds intelligently, looking for the channels and strategies that work best with your target audience.
Marketing planning is broad and involves several people, channels, tools and actions, and it is necessary to distribute what makes sense for each of these areas. Remember that distribution should also be based on data from your own business and not just assumptions.
Marketing budgeting and planning are crucial for good results and better visibility of your cycles’ actions. How is this topic handled in your business? Take advantage of the fact that you now know more about it, understand your scenario and learn more about our technologies to help you achieve your next goals!
It is common that, as the year comes to an end, companies begin their plans for the next year and the budget is one of the first topics to be discussed, after all, it is the budget that will guide all marketing planning for the future.
Converting your plan into numbers and understanding what is viable or not for your business is crucial, but this is a challenge for many organizations. How have you been looking at your budget and marketing planning? We have gathered essential tips to help you get it right this time!
Marketing budget and planning
The marketing budget is a document that aligns your advertising and promotion strategies with the reality of your financial situation. This planning is the time to look at your strategies and actions in numbers.
Budgeting is never easy or 100% accurate, after all, many items are based on forecasts. This is because it is not possible to predict how much your suppliers will increase their prices, it is not possible to predict the exact value of the dollar (if you use international tools that are based on conversions) and many other unpredictability factors can occur during the cycle.
However, this doesn’t mean that your business shouldn’t consider its budget and marketing planning, right? There are no rules or correct ways to set up your budget, but good practices are essential to ensure that it is as effective as possible. Check out some of them!
Know and understand your company's current situation
Of course, in the ideal scenario, marketing planning should be highly valued and receive good investment from businesses, after all, it is what will return a lot to your company and make profits grow.
However, you need to be realistic and understand your business and the current situation. Just because your competitor invests x million doesn't mean your organization needs to do the same.
This is the time to look inside yourself before starting any planning, understand what is working and what is not, what the results were from the last budget and how the sector is growing in your company.
Every company has its own marketing moment, after all, this is a structure that relies on several strategies, flows, plans and actions. If you are at the beginning of this implementation, for example, you can't invest in all aspects at once, right? Therefore, understand your company, where it is and where it wants to go.
Analyze the history and growth of your sector
Marketing is a sector that provides returns for the business and dubai business fax list it is necessary to monitor this return to understand how much your investment actually makes sense. Marketing planning involves data and numbers so that you can make new projections and budgets that are increasingly assertive.
Therefore, analyze data, make comparisons, look at the past, consider sales targets, understand how much each action returned and base yourself on realities and not just guesses or assumptions for this planning.
Look at your contracts and partners
Each contract and service has a specific contract period and its renewals involve costs that are not fixed, therefore, it is necessary to leave room in your budget and marketing planning.
Look at contracts, understand at what times of the year renewals occur, think about what makes sense or not to follow in your strategy and have this value planned, after all, you can't fail third parties, right?
Include new tools and technologies
Understanding what your business already has is necessary, just as it is necessary to look to the future and plan investments and trends. Marketing constantly requires updates, tools and structures so that your business continues to perform and deliver results.
To do this, it is crucial to look at trends and understand what makes sense for your business so that it is already on your radar and in your financial planning for future implementations.
When we talk about tools and technologies, it is interesting to look at all aspects of the process, research the market, understand the needs of your people and create solutions within the company. We have selected 2 technologies that may make sense to include in your budget if your business does not already have them!
Chatbots and artificial intelligence
Chatbots are software capable of answering questions and answers pre-programmed into their system and with updates to artificial intelligence they become increasingly sophisticated and capable of identifying language, intention, mood, positive or negative feelings and making the conversation more humanized and closer to reality .
With it, marketing strategies gain in several aspects, after all, these tools can be implemented in different channels and moments of the customer journey.
Digital Asset Management (DAM)
Marketing is a sector that produces a lot of content and demands many needs and requests for creation, review, redoing, sending and exchanging this content, right?
A major problem faced by many teams is precisely in managing this digital content. After all, without organization, demands get lost in folders, emails, WhatsApp conversations and control over what is being done or used is no longer efficient.
With the growing amount of demands and content, or digital assets of these teams, the need for management also grows and this is precisely why Digital Asset Management (DAM), the Digital Asset Manager , has become an increasingly present trend in the sector.
These are platforms for storing, organizing and managing digital assets for businesses. In other words, more than just creating content and putting it in folders or sending it by email, with this type of technology, marketing and the company in general gain insight into what is being done, everyone knows where and how to find what they need, and time and productivity are no longer wasted due to a lack of management of such materials.
Much more than a data storage, this is a complete digital asset manager and makes all the difference for marketing planning.
Think about people
Marketing planning is not just about looking at processes and tools, but you need to think about your people, after all, they are the ones who will carry out your actions.
Review salaries and positions, understand how much you want to grow in the sector and plan possible hires. More than that, put corporate education and training on your radar, after all, learning in this sector must be constant for better results.
Have indicators to monitor the definitions
Budget planning is not just about defining how many reais will be allocated to your marketing, but also requires indicators and return on investment calculations to justify the values and see results.
Therefore, even in this plan, you need to know what your metrics are and link them to your objectives, whether it be increased sales, reduced errors, increased leads, engagement, among others.
It is important to note that the goal should not be too open. Define plausible and visible numbers and results so that each indicator is actually achieved with your training throughout the year.
When observing each of these points, it is necessary to calculate and define investments according to the possibilities of your business so that training becomes part of the employees' routine.
Distribute intelligently
When defining a budget based on everything that has been discussed so far, it is important that you distribute your funds intelligently, looking for the channels and strategies that work best with your target audience.
Marketing planning is broad and involves several people, channels, tools and actions, and it is necessary to distribute what makes sense for each of these areas. Remember that distribution should also be based on data from your own business and not just assumptions.
Marketing budgeting and planning are crucial for good results and better visibility of your cycles’ actions. How is this topic handled in your business? Take advantage of the fact that you now know more about it, understand your scenario and learn more about our technologies to help you achieve your next goals!