Category: Budgeting
-
The Essential List of 12 Data Elements for Marketing Budgets
Marketing budgeting is a challenging task. Boards are always asking challenging questions and unfortunately, the standard finance systems can’t help. Combine this with a budget that has literally thousands of purchase orders spread across many marketers and the reporting and forecasting gets that much tougher. A CMO who can’t answer basic budgeting questions will raise…
-
Twelve Signs Your Marketing Organization Might Have a Spending Problem
If you are new to the CMO role, understanding the organization and spending is one of your first jobs. Given today’s economic climate, ensuring your team maximizes every budget dollar is vital. Check the list below for the 12 indications of a spending problem in your organization. #1 – You are missing the targets for…
-
Renew Your SaaS Contracts Early
We track lots of data as you have seen from the blog. One of those things we look at closely is the money we spend on sales and marketing software. Depending on the vendor, software costs are driven by consumption either based on user counts, database size, emails sent or other measures. We work hard…
-
Don’t Do Marketing Budgets – Part II
Lot of questions about my posting advocating no marketing budgets – the reality is that yes, I, the CMO have financial guidelines I have to hit with the company. I know my salary and benefits numbers, and my all other marketing spend numbers. And yes, at the beginning of the year, I make some approximations…
-
Why Use it Or Lose It Marketing Budgets Work Against the Company
Last post we talked about why handing out marketing budgets isn’t a good idea. It is counter intuitive, but giving someone on the team a blanket “budget” to some extent provides an entitlement to spend the money. Read the post for more info. The second deadly marketing sin with budgets is the “use it or…
-
Why Budgets Don’t Matter
I am being a little tongue in cheek here, but the focus on “budgets” is very overblown and somewhat destructive to the mission of the marketing group. Why? Most of marketing success is not budget related – you can’t buy your way to success If you align budgets with the people accountable for success, only…