What You Need to Know to Get Your 2020 Marketing Budget Approved

By in Marketing Trends,

While it may seem like an intimidating process to get a budget approved, below are steps you can take to be prepared and go into the room with confidence and get your 2020 numbers and initiatives approved.

Know Your Audience

As you prepare your budget, it’s vital to know who will be approving the numbers. When you navigate through the budgeting process and planning out your strategy, be sure to identify what each executive needs to do to approve the budget, including their roles and interests. Why their interests? When you go focus on appealing to the executive’s interests and what they are going to get out of the approval process, you are less likely to go on the defense and focus more on the results.

Below is a cheat sheet on what you can prepare to discuss with whom:

Know Your Answers

As you walk into the room armed with data and research on your current competitors and systems, you are ready to present what solutions are working/not working and the goals you would like to accomplish for the new year. Here are a few questions that may appear during the approval process:

What they taught you in school in true: show your work and know your numbers inside and out to have the best responses to these questions.
If you want to learn more about identifying the right data to present, watch the May 2019 webinar recording, Effectively Using Data to Optimize Your Marketing Funnel.  

Budgeting for Ongoing Programs

Sometimes, your marketing budget doesn’t websites. There may be some ongoing marketing programs, such as digital advertising or experiential marketing, that your organization may want to pursue. When you budget for programs, here are some considerations:

When presenting a budget for ongoing programs, you may have three to five initiatives you’re asking for approval. Be prepared to defend one key initiative that would be most beneficial to your organization.

Need that extra confidence boost? At Webolutions, our purpose is to empower passionate people to thrive. Get a free website analysis by calling 303-300-2640, emailing [email protected] or scheduling an appointment.

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