{"id":1114,"date":"2022-12-02T20:01:19","date_gmt":"2022-12-02T14:31:19","guid":{"rendered":"https:\/\/winnerbrands.in\/?p=1114"},"modified":"2022-12-02T20:01:23","modified_gmt":"2022-12-02T14:31:23","slug":"creating-marketing-budgets","status":"publish","type":"post","link":"https:\/\/winnerbrands.in\/career-prep\/creating-marketing-budgets\/","title":{"rendered":"Creating Marketing Budgets"},"content":{"rendered":"\n<p>Every annual business review has a section where you will be asked to present a budget for your marketing activities for the next year.&nbsp;<\/p>\n\n\n\n<p>Most teams approach this with some fear because budget setting is a laborious exercise fraught with complex options:<\/p>\n\n\n\n<ul>\n<li>Should you spend more in the first half or the second?<\/li>\n\n\n\n<li>Should you spend more on performance marketing or brand marketing?&nbsp;<\/li>\n\n\n\n<li>Should you do a national-level campaign or stick to BTL?\u00a0<\/li>\n\n\n\n<li>Should you invest in influencer campaigns or hire a brand ambassador?&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>The questions are never-ending.&nbsp;<\/p>\n\n\n\n<p>It\u2019s true &#8211; a lot of these high-level questions are difficult to answer in isolation.&nbsp;<\/p>\n\n\n\n<p>But there is a simpler approach.&nbsp;<\/p>\n\n\n\n<p>You can run several low-cost experiments with a portion of your current marketing budget.<\/p>\n\n\n\n<p>Prove out concepts by running city\/state-level campaigns before you go national.&nbsp;<\/p>\n\n\n\n<p>A single idea can have a large version and a small version.&nbsp;<\/p>\n\n\n\n<p>Before you ask for several crores for a national campaign, shoot a low-cost video this year and test it out in one state first.\u00a0<\/p>\n\n\n\n<p>By testing out small ideas, you will:&nbsp;<\/p>\n\n\n\n<ul>\n<li>Learn what works and can be scaled up&nbsp;<\/li>\n\n\n\n<li>Learn what doesn\u2019t work and should be discarded&nbsp;<\/li>\n\n\n\n<li>Gain valuable consumer feedback and insights through testing&nbsp;<\/li>\n\n\n\n<li>Establish conviction in the leadership team about marketing ideas<\/li>\n<\/ul>\n\n\n\n<p>When it&#8217;s time for you to plan the budget for the next year, spend on what works while scaling back \/ stopping activities that don\u2019t work.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Every annual business review has a section where you will be asked to present a budget for your marketing activities for the next year.&nbsp; Most teams approach this with some fear because budget setting is a laborious exercise fraught with complex options: The questions are never-ending.&nbsp; It\u2019s true &#8211; a lot of these high-level questions [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1115,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,16],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9 - 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Helping brands leverage the power of top marketing talent\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/winnerbrands\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-02T14:31:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-02T14:31:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/winnerbrands.in\/wp-content\/uploads\/2022\/12\/Marketing-Budget-.png\" \/>\n\t<meta property=\"og:image:width\" content=\"480\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Sandeep Nair\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@WinnerBrandsCo\" \/>\n<meta name=\"twitter:site\" content=\"@WinnerBrandsCo\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sandeep Nair\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/winnerbrands.in\/career-prep\/creating-marketing-budgets\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/winnerbrands.in\/career-prep\/creating-marketing-budgets\/\"},\"author\":{\"name\":\"Sandeep Nair\",\"@id\":\"https:\/\/winnerbrands.in\/#\/schema\/person\/a7076da07370daecd258b1752b914266\"},\"headline\":\"Creating Marketing Budgets\",\"datePublished\":\"2022-12-02T14:31:19+00:00\",\"dateModified\":\"2022-12-02T14:31:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/winnerbrands.in\/career-prep\/creating-marketing-budgets\/\"},\"wordCount\":254,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/winnerbrands.in\/#organization\"},\"articleSection\":[\"Career Prep\",\"Job Prep\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/winnerbrands.in\/career-prep\/creating-marketing-budgets\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/winnerbrands.in\/career-prep\/creating-marketing-budgets\/\",\"url\":\"https:\/\/winnerbrands.in\/career-prep\/creating-marketing-budgets\/\",\"name\":\"Creating Marketing Budgets - 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