Today we’re going to talk about the most boring of all boring subjects – money! Specifically how to tie the marketing budget to the outcome – what we call “Marketing Return on Investment or MROI”. It’s the difference between marketing being a cost center or a profit center. We’ll be talking about different budgeting approaches and some key considerations to find that balance on The B2B Marketing Mindset.” Let’s start with the premise – there are a lot of ways to set a marketing budget – most of them are fancy guessing. We’ll talk about the six ways companies tend to budget for marketing
• Competitive Budgeting
• Same as Before
• Percentage of Sales
• What can be afforded at the moment
• Zero based budgeting
• Break Even Budgeting
Every week, The B2B Marketing Mindset podcast demystifies marketing, shares best practices and helps you avoid wasting money.