How to strategically manage your marketing spend in 2021 with 8 integrated marketing budget templates
Setting strategic and channel direction, working toward commercial objectives and KPIs and monitoring success is great, but if you're not tracking your ROI per channel it's hard to understand how much money you've had to spend to see a return. That's why you need a practical, accessible marketing budget.
How much budget is allocated to marketing?
According to the February CMO survey, marketing budgets were expected to grow 6.7% in 2020. However, the July edition found the real-term figures had shrunk in the wake of the pandemic and global recession, equating to a rise of 1.6% in marketing budgets overall over this year.
In a competitive environment for marketers, reporting and forecasting marketing spend is more important than ever. Meaning if you can't prove a tactic has been successful, it will be even more difficult…
Chart of the day: Reporting the ROI of Social and Content Marketing proving difficult for marketers
As marketers we are constantly juggling more projects than seems possible at times - planning the next campaign, delivering the current one as well as all the BAU activity of Email, Automation, Social, linking with the sales team and meeting...oh the meetings. It can feel like your in a whirlwind even with the most well thought out plans but one of the most turbulent times can be when you need to report on the ROI of particular activities. How do you find the right data? Is it accurate? How should your present it? It's hard.
In a recent survey, TrackMaven asked marketers from 19 different industries what they were finding the most challenging when attempting to prove the ROI of their marketing. Of the many options, they could choose from attributing social and content to revenue leading the…
Chart of the Day: Only 2% of respondents will invest more than $5 million in the next 12 months - Part 7 of 10
So far in this 10 part series, breaking down Hubspot's State of Inbound 2017 report, we have looked at:
Top business priorities
Inbound marketing - what are your priorities and challenges?
Telesales remains a successful channel for sales representatives
Are marketing models and strategies even effective?
Is your marketing and sales SLA alignment positive?
Is marketing a top source of leads for sales?
For the 7th installment, it's time to see how much money respondents are willing to invest into their marketing efforts in the next 12 months.
Only 2% of respondents said they are willing/ or are going to invest a whopping $5 Million into their marketing efforts. Although a low percentage, this will be reflective…
Batch and blast aren't pretty, and there are better email tactics. But nothing gets you more bang for your buck.
I don’t intend this to be a sales piece but I feel you need to know a little about myself and my company before you read this.
I work in marketing for an email service provider and my company preaches the value in sending sophisticated emails.
Now I’ve told you that, I have something to get off my chest. Something that would appear to contradict the opinions of my industry peers and perhaps, on occasion, that of my own company.
Here we go: although I think sophisticated emails are great, I think a ‘batch and blast’ style of emailing is better.
Yes, batching and blasting emails (the act of mass marketing through email) is great. I highly recommend it. Do it for all it’s worth. Seriously.
You will never, ever find a greater ROI rate…
Chart of the Day: How email ROI compares to other channels
The below chart illustrates that email delivers a steady stream of return for your investment. Email is generally underrated in regards to investment compared to Paid Search (PPC) or the other channels.
In the chart we can see that 73% of respondents rate email marketing ROI as either 'excellent' or 'good', compared to PPC which comes out at 59%. These are impressive statistics, but imagine the results if email marketing received the same investment as the other channels or even it diversifies into tactical marketing automation.
One question I have with this chart, is how accurate the calculation of investment is in email? It can be difficult to calculate, because there are different factors attributing to a email send. But most importantly,…
Choosing the right metric to measure ROI
Learn what metrics can help you truly understand the value of your spend and what technologies really deliver on this most important metric. Small-to-medium businesses are investing in their marketing at jaw-dropping new levels.
BIA/Kelsey predicts that 2015 will be a banner year for local media expenditure on the part of these organisations, with investment exceeding $50 billion.
Digital investments are at the forefront, with 28% of marketers reducing their traditional advertising budget to fund more digital marketing and search marketing capturing the largest share of online spend at 47% according to Business2Community. But with so many dollars on the line, how can a business know what investments are really paying off?
Return on Investment is the gold standard that today’s marketers are seeking. But with each new media channel, there is new complexity in the…