Marketing Spend, Budgeting and Forecasting Report
Marketing spend is a big deal.
In order to win, marketers need to own the forecast (and therefore the budget), and set a variety of benchmarks, continually analysing, adjusting, improving and investing. Often this means asking for more than is budgeted by the finance department…hence the need to forecast.
Despite the efficiency and flexibility offered by forecasting marketing spend — and, increasingly, ‘zero-based budgeting’ — there is still a large gap between those that forecast properly and those that are just being handed budget to spend…and just spend it.
This report (in association with London Research) contains recommendations for businesses seeking to improve their marketing budgeting and spend, and looks at;
- Forecasting and allocation,
- Evaluation and allocation,
- Performance and ROI,
- Benchmarking and attribution
- Recommendations
Are you a Marketing Legend or a Marketing Loafer?
# Legends are nearly twice as likely as Loafers to have complete control over their marketing spend (50% vs. 27%).
# Nearly two-thirds (64%) of Legends evaluate their current marketing performance against their forecast at least on a monthly basis, compared to only 37% of Loafers.
# 72% of Legends dedicate more than 20% of their total marketing spend to digital, compared with 27% of Loafers
# Legends are more than five times as likely as Loafers to forecast customer profitability and return on marketing spend by channel and device (50% vs. 9%).
Download your copy here.
# If you’re interested in better understanding your Benchmarks, KPIs and how to better forecast then get in touch.
