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What is a marketing budget? A marketing budget is a working document that lists all the money a company plans to spend on marketing-related activities over a given period of time (usually a quarter or a year). A marketing budget can include different items to classify the expenses related to these proposed actions. For example, expenses such as online advertising, hiring for the team, specific marketing software, creating content in post or video format... It all depends on the needs of your business and where you want to allocate part of your resources to achieve commercial and marketing objectives. Why is it important to make a marketing budget? Preparing a marketing budget is useful for.
Know what funds to allocate to each type of resource and Buy Email Database List actions This way, you'll know how much to spend on each marketing strategy. For example, if your goal is to improve your website's online positioning and thus get more visitors, you'll have to spend more on SEO and content generation. 2. Control the costs of the marketing department You can quickly see if certain items represent a larger investment than anticipated and adjust your costs accordingly. 3. Dedicate more resources to the actions that work best If you have a clearer understanding of the expenses of each of your marketing items, you will be able to more easily evaluate their return on investment. 4. Have a reference history You can use your previous budgets as a guide for future years and assess the changes your company needs based on the results you obtain.
Set goals If you decide to include a new item in your budget, take the opportunity to define what result you would like to obtain from it (you can use other items in your budget whose performance you already know as a reference). 6. Plan for the long term It is very useful to do the exercise of specifying what actions you are going to carry out throughout the year, as it allows you to prioritize your efforts. In addition, if you monitor compliance with this target budget, you will be able to better understand in which areas you invest more or less, and you will better understand the nature of your business's marketing. 7. Understand marketing expenses as an investment You will learn to generate more and better opportunities for business development, making the most of all your investments, and this will help you achieve better decision-making for the department.
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