10 basic aspects that affect Everyone knows the importance of a well-planned company budget. However, we sometimes forget to plan an essential part of ensuring it’s adequate: controlling marketing investment .
As you already know, just like a company’s overall budget, a marketing budget can’t be a random number. For this to be meaningful, we need to individually plan each of the expenses we’ll face. But the real question is: what are my company’s marketing expenses? Sometimes it can be a little difficult to identify them (let alone measure them correctly), but don’t worry! In this post, we’ll tell you everything you need to do to control your marketing investment without worrying.
Obviously, every company will have different expenses
but we can follow some guidelines to plan our marketing budget in the best possible way, regardless of the type of business we operate. We’ve selected 10 basic guidelines you should follow to control your marketing budget:
1. Creation of a general and specific budget
According to an OCM survey , total marketing budgets are between 7 and 12% of total revenue, so it’s important to have a complete picture overseas data of where you want to invest your money in your marketing plan. To do this, in addition to having a general budget that encompasses all the investments you’re going to make, you also need specific budgets for each action. With these specific budgets, you’ll be able to see if your actions and strategies are working well, and if not, change them.
For example, in a social media campaign, the general budget will include specific budgets for clicks or impressions.
2. Specific investments for each campaign
We advise you to allocate in advance the exact investment you will make in each marketing campaign , not an approximate figure. To do this, you can do some research on the amount of money you will need to carry out each action, based on your previous experience. Keeping this investment in mind, you will prioritize the actions necessary to carry out your campaign and avoid unnecessary expenses.
3. 70/30 Rule 10 basic aspects that affect
Experts agree that we must adopt budget rules 5 essential elements in a download landing page that allow for flexibility and innovation. For example, we’re going to run a social media advertising campaign. It’s crucial that when a new ad reaches the public, we seize the opportunities it offers and leverage its potential for success.
A good way to do this is with the 70/30 rule: 70% of the budget will go to fixed advertising costs, while 30% will go to variable expenses . This 30% can be used to promote other complementary posts or create other ads on brazil data social media that allow you to react or respond to the engagement you’re receiving. If you don’t use that 30% completely, you can save it to add to the main campaign later.