Justify budget requests with a solid set of projections
Grace KiteRunning the numbers through different scenarios enables you to identify the budget that’s needed to reach your targets and will make it more likely to be approved.
budgeting
‘It should be exciting’: Marketers on embracing the challenges of budgeting season
Molly InnesBudgeting and planning season may sometimes feel like fighting a losing battle for marketers, but it should be a moment to reflect and press forward, according to former marketing leaders.
The best way to get buy-in for investment? Remove every reason to say no
Jon EvansFor those facing tricky budget negotiations or trying to get innovation green-lit there’s no silver bullet to success, but there is plenty you can do to maximise the chance of sign-off.
‘Everyone’s got an opinion’: Cautionary tales from the budgeting and planning frontline
Molly InnesFive former CMOs with lots of experience across a multitude of sectors and brands share their budgeting horror stories and the lessons they’ve learnt along the way.
Next’s CEO on why it uses a ‘hurdle rate’ for setting marketing budgets
Molly InnesIf the retailer doesn’t make £1.50 profit on each pound spent on marketing, it’s marketing budget will be reduced, said the business’s CEO.
Never underestimate the value of setting realistic, ambitious, time-bound goals
Secret MarketerAfter identifying core segments and updating the positioning for most brands over the past few months, our secret marketer has now reached the end of strategy development. Next up: setting objectives.
The economy is going to be ‘meh’ in 2024 but your marketing plan can’t be
Grace KiteLast year Mark Ritson put forward his triple-cooked chips method for budgeting, but Grace Kite reckons it’s worth dunking them one extra time to take into account the strength of demand in the economy, your target market and category.
Strategy development is the most important skill for marketers
Secret MarketerAs part of a new mini-series looking at the different stages of planning, from strategy setting and targets to budget and ambition, our marketer on the inside shares how they are overcoming some of the common pitfalls.
How will media spend shape up in the second half of 2023?
Rachel LawlerThe second-half of the year will continue to see investment under scrutiny, with macro-economic circumstances continuing to put media budgets under pressure but that doesn’t mean there isn’t room for optimism.
Diagnose first, strategise second: Why you need to start at the beginning when planning
Secret MarketerAs part of a new mini-series looking at the different stages of planning, from strategy setting and targets to budget and ambition, our marketer on the inside shares how they are overcoming some of the common pitfalls.
How has economic uncertainty impacted marketing budgets?
Molly InnesA troubled economy is making marketers more sales-focused at the expense of brand marketing, according to Marketing Week’s Language of Effectiveness Survey 2023.
ROI top effectiveness metric demanded by C-suite
Josh StephensonPerformance-focused metrics top list of what marketers believe senior stakeholders want to see, with nearly 50% believing the board is too focused on ROI.
Two-thirds of B2B marketers expect budgets to grow in the next 12 months
Rachel LawlerDespite the challenging economic environment, a new report from Linkedin shows many B2B marketers are set for increased budgets, backed by finance peers who have greater faith in their ability to drive revenue.
It is incumbent on marketers to force the strategic debate: Here’s how
Secret MarketerAs part of a new mini-series looking at the different stages of planning, from strategy setting and targets to budget and ambition, our marketer on the inside shares how to overcome some of the common pitfalls.
‘Nobody likes to feel stupid’: Marketers on how best to communicate with stakeholders to secure investment
Niamh CarrollThe third event in the Festival of Marketing’s Currency of Effectiveness series explored how marketers can make the case for investment in their business, with senior marketers explaining the importance of transparency in their relationships with stakeholders.