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.
Marketing budgets and dashboards are typically managed and operated separately. Budget exercises happen annually and dashboards are put together or updated as needed, such as before a board meeting.
Marketers typically keep separate the management of marketing budget and the management of dashboards. However, these two should be tied closely together. Outcomes in your marketing dashboards should tie directly to the outcomes tied to your marketing budget. After all, getting budget is getting commitment that marketing will reach a pre-defined goal.
In this post we discuss a SiriusDecisions method for creating marketing budgets. We then discuss how to make sure your marketing dashboards speak to the goals you set out to achieve during the budget planning excercise.
Very often marketers are disconnected from corporate goals.
They execute and optimize on an island, disconnected from revenue performance measurement and corporate planning.
The result is missing expectations or targets midway through the year, large discrepancies between budget and actual spending, and confusion on the best way forward when revenue generated falls short of expectations.
Clearly, marketing execution, measurement and planning need to be connected.
In this post we cover a marketing planning process to assist marketing leaders in navigating growth and align to revenue.
Topics: marketing planning