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At large organizations there are numerous responsibilities, ownership areas, and processes in place that make it difficult to identify opportunities to improve operations. It’s also difficult to prioritize which areas to improve or optimize first.

This is especially true when it comes to marketing planning and budgeting processes. In this blog post we review a SiriusDecisions maturity model for planning and budgeting. 

Senior marketing leaders plan and budget year around, they are always in some stage of planning or budgeting. So it’s never a bad time to consider opportunities for improvement, uncover previously overlooked areas, and compare performance to other organizations.

This maturity model helps leaders prioritize improvements around planning and budgeting. Let’s dive in.

Overview of Budget and Planning Maturity Model

The maturity model is broken up into several topics, all of which have a rubric for grading high and low levels of maturity in the planning and budgeting function.

Those topics include: 

  • Alignment with Demand Creation and Sales Operations

  • Alignment with Marketing Leadership and Finance 

  • Marketing Planning and Budgeting Process Maturity

  • Training and Knowledge Building

  • Marketing Resource Management Tools and Technology

  • Measuring the Success of Marketing Planning and Budgeting

When marketing operations leaders and their teams can reach high levels of operational maturity across these areas, they drive business decisions and increase their stake in the organization.

They become vital to the core business.

So how do we shift from what we’re doing today for budgeting and planning to where we want to be?

Let’s start by defining the stages of maturity, then you can evaluate how relevant it is to your business model, and set a goal for reaching a higher level.

This post provides a brief overview of certain parts of the maturity model. Specifically, it explains what low levels and high levels of maturity look like.

budget and planning maturity model b2b marketing

Alignment with Demand Creation and Sales Operations

The planning and budgeting team need alignment with various teams such as the demand generation and sales operations team.

For example, low maturity in planning is associated with duplication of effort and conflicting plans with the demand generation and sales operations team. Essentially, the team doing planning and budgeting doesn’t have a relationship with demand and sales ops.

At the highest level of maturity, all these teams are are engaged and interaction begins at the earliest stages of planning. They meet frequently and have checkpoints in place to focus on whether goals are being achieved.

Alignment with Marketing Leadership and Finance

Finance and marketing operations should be closely aligned in relation to budget management. But this isn’t always the case.

Low levels of maturity is observed when finance fully owns budgeting and there is no agreement on shared responsibilities.

In contrast, high levels of budgeting maturity means marketing operations and finance are fully engaged at the earliest stages of planning and their touchpoints are documented and followed. 

Furthermore, finance relies on operations to allocate budgets across the marketing organization, as well as being responsible for budget adherence. Lastly, both teams have regular checkpoints for improving the budgetary process under high levels of maturity.

Training and Knowledge Building

Alignment is not the only area where marketing operations leaders need to focus on. Investing in building the skills and knowledge necessary for the team to execute on proper planning and budgeting is of paramount importance.

At high levels of maturity, almost all of the marketing operations team members have advanced proficiency in strategic planning, investment allocation, change management and portfolio management. There are reviews on staff skills and a plan for training staff on relevant marketing ops skills.

At low levels of maturity, the marketing operations staff lack necessary skills and do not receive formal training. 

Technology For Planning and Budgeting

Large organizations have to keep track of enormous amounts of information on resources and dollars. A marketing resource management (MRM) system makes sense here, though at low levels of maturity this system is not in place and each marketing function has its own way planning and allocating resources.

At high levels of maturity, a standard MRM system is place and best practices and workflows are defined. Additionally, there are appropriate integrations with analytic tools and financial systems. Lastly, there is annual evaluation on new functionality that should be adopted by the business.

When it comes to technology integrations, consider how predictive modeling can help with planning and budgeting.

Bizible’s Revenue Planner enhances MRM systems by providing predictive capabilities to marketers during the budget process, telling them how much pipeline and revenue will be generated from marketing investments.

It’s a lot like portfolio management and helps you find the mix of marketing investments that result in the greatest return.

For the complete framework on planning and budgeting, download the PDF below.  (Note: Turn off AdBlocker for our site if you cannot view the CTA)