Pat LaPointe of Marketing NPV provides a must-read checklist of 7 items that will help you win your marketing budget proposals. The following is a brief summary of these tips:
- Ensure that you are aligned to the proper goals and objectives. Your recommendations need to be linked to specific ways they will help achieve company goals – revenue, profit, customer value, market share, etc.
- Make sure you’ve squeezed every drop from the current spend patterns. These days, zero-based budgeting is price-of-entry.
- Have a plan for how you will prioritize the marketing funds strategically, not just tactically. If you get another $1, where will you put it?
- Identify the points of leverage you can exploit. Results accrue when you place resources behind places of competitive leverage.
- Demonstrate an understanding of how the business environment has changed. Even if you have clear leverage opportunities, the business environment is powerful enough to neutralize just about any unilateral effort a given company might make.
- Proactively assess the risk of your plans. As marketers, we plan like matadors but have the track record of the bull.
- Propose “good” benchmarks and targets for your intended outcomes. Every recommendation should come with expected performance outcomes.
Are you planning on next year’s budget yet?