In order to understand what a marketing budget is and how you could effectively use it in your business, we need to examine the type of expenses that you need to include in a marketing budget. Let’s get right into what’s included in a marketing budget. I’d like to note that, because the length and content of your marketing budget depends on the expenses you want to outline, the results can vary due to the terms of the information you need to include in it that’ll help you achieve your lead generation goals. Put another way, what makes a significant difference between the two examples is to do with the monthly resources required for each content marketing campaign, given the size of the company and its needs. Since the amount of monthly resources is significantly higher than in the previous example, the breakdown of budget allocation leads to having more people and different roles involved, such as a content marketing manager, full-time writers, and graphic designers.Īdditionally, the plan allocates budget to additional resources for technical support and content production, as well as tools and paid content promotion. In this example, because the company is bigger, they allocate some resources in-house and some others to vendors. On the other hand, a content marketing budget for an enterprise is significantly different, as we’d expect. If you’re a small business, breaking down the amount to spend on your content marketing allows you to keep track of your spending. Have a look: Image Source: Content Harmony The example I’m showing you a little further down breaks down the costs of content marketing for an enterprise.Īdditionally, it includes data on the budget allocation for tools and graphic design assistance, as well as paid promotion for content. In other words, your revenue and company size are the two main points that define your marketing budget.īelow, I’m showing you two different marketing budget examples for two different company sizes.įirst, a content marketing budget for a small business would most likely include information related to the monthly resources and a breakdown of the content marketing investments that need to be made. Image Source: WordStreamĪnalysing this, calculating your company’s revenue and taking into account the company’s size will help you get to the suggested marketing percentage that can form the basis of your marketing budget. Here’s a beautiful infographic by WordStream that illustrates the three main aspects of a marketing budget. However, it doesn’t only record your marketing expenses, but also helps you to allocate your resources to individual sections of your plan.Īdditionally, if it’s well made and thought through, then it’ll be easier for the marketing team to control if the marketing spend is justified and well spent. In other words, it’s your total budget for a marketing project. To put it simply, a marketing budget is a plan that allows you to decide on the amount of money you’re going to spend on each section of your marketing plan. Let’s start by defining what a marketing budget is. Now Over to You What’s a Marketing Budget? Why Do You Need to Plan Your Marketing Budget? There are no hard-to-understand budget calculators or complex cost trackers, we promise! I’ll be talking you through the process of working on the templates. We’re also sharing four easy to use free marketing budget templates that you can download and work on yourself. How to prepare your marketing budget plan.Why planning your marketing budget is necessary.What’s to include in a marketing budget.More specifically, here’s a breakdown of the topics we’re going to cover: We’re sharing this post to help you understand what a marketing budget is, as well as how you can work on it effectively, whether you’re a small business or an enterprise. In this case, you need to work on what’s called a marketing budget, which, in a few words, helps you make sure you’re not overspending and that you’re allocating your budget where you should. You’re about to launch a new marketing campaign that might require you to perform a variety of marketing efforts, such as website development, advertising, content creation, work on your public relations, etc.
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