[{"data":1,"prerenderedAt":5030},["ShallowReactive",2],{"en-blog/marketing-expenses":3,"en-global-content":2016,"en-article-global-content":3440,"en-blog-article-more-articles-850961c4-ad89-4a0e-9294-8ac179da7176":3700,"en-blog-article-more-articles-208782381":5025},{"name":4,"created_at":5,"published_at":6,"updated_at":7,"id":8,"uuid":9,"content":10,"slug":1921,"full_slug":2005,"sort_by_date":52,"position":2006,"tag_list":2007,"is_startpage":26,"parent_id":2008,"meta_data":52,"group_id":2009,"first_published_at":2010,"release_id":52,"lang":70,"path":52,"alternates":2011,"default_full_slug":2005,"translated_slugs":2012},"The complete guide to managing marketing expenses","2022-10-24T16:25:22.864Z","2026-03-12T10:47:18.012Z","2026-03-12T10:47:32.262Z",208782381,"850c6d2c-b517-4c92-b869-415a47f12f96",{"_uid":11,"roles":12,"title":13,"author":14,"topics":79,"content":101,"noIndex":26,"category":1891,"language":1916,"component":1904,"heroMedia":1917,"sidebarCta":1925,"publishedAt":1926,"readingTime":1927,"redirectUrl":24,"listingImage":1928,"metaDescription":1936,"componentsAfterTheArticle":1937},"077cfc60-faae-4062-a1bb-cafd5fd0e3a8",[],"The complete guide to marketing expenses in 2025",{"name":15,"created_at":16,"published_at":6,"updated_at":17,"id":18,"uuid":19,"content":20,"slug":63,"full_slug":64,"sort_by_date":52,"position":65,"tag_list":66,"is_startpage":26,"parent_id":67,"meta_data":52,"group_id":68,"first_published_at":69,"release_id":52,"lang":70,"path":52,"alternates":71,"default_full_slug":64,"translated_slugs":72,"_stopResolving":38},"Chris Dunne","2024-11-25T19:47:17.907Z","2026-03-12T10:48:04.132Z",584506034,"ced1d806-6e64-42d6-8b0f-d708ebbdbbfa",{"_uid":21,"links":22,"picture":39,"lastName":43,"component":44,"firstName":45,"description":46},"88e4340f-e2bc-42fe-a8f0-79dafdd55f97",[23],{"tag":24,"_uid":25,"hide":26,"icon":27,"link":32,"type":24,"label":24,"style":36,"component":37,"mobileLabel":24,"onClickEvent":24,"openInANewTab":38,"horizontalFill":26},"","74ed5df6-6607-44c9-8870-23a2db0b8f4a",false,{"id":28,"alt":24,"name":24,"focus":24,"title":24,"source":24,"filename":29,"copyright":24,"fieldtype":30,"meta_data":31,"is_external_url":26},4129791,"https://a.storyblok.com/f/146026/x/315bd7d0c7/ic_linkedin.svg","asset",{},{"id":24,"url":33,"linktype":34,"fieldtype":35,"cached_url":33},"https://www.linkedin.com/in/chrisdunne4/","url","multilink","primary","cta",true,{"id":40,"alt":24,"name":24,"focus":24,"title":24,"source":24,"filename":41,"copyright":24,"fieldtype":30,"meta_data":42,"is_external_url":26},18695910,"https://a.storyblok.com/f/146026/349x349/9150c24a43/chris-dunne.jpg",{},"Dunne","author","Chris",{"type":47,"content":48},"doc",[49],{"type":50,"attrs":51,"content":54},"paragraph",{"textAlign":52,"key":53},null,"p-0",[55],{"text":56,"type":57,"marks":58},"Chris Dunne is our Senior Content Marketing Manager. Based in Derry, he brings over 15 years of marketing experience to our content strategy. Outside of work, Chris loves spending time with his two young children, playing football, and exploring Ireland. 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The benefits of a well-balanced budget don't get you out of bed in the morning. Growth and great branding are what you're here for.",{"type":50,"attrs":109,"content":111},{"textAlign":52,"key":110},"p-1",[112,114,119,121,126],{"text":113,"type":57},"But this can be a problem. Because as a marketing manager or CMO, you're in charge of ",{"text":115,"type":57,"marks":116},"a lot",[117],{"type":118},"italic",{"text":120,"type":57}," of company money. And ",{"text":122,"type":57,"marks":123},"spending wisely is a key part of the job",[124],{"type":125},"bold",{"text":127,"type":57},".",{"type":50,"attrs":129,"content":131},{"textAlign":52,"key":130},"p-2",[132,134,138],{"text":133,"type":57},"We're here to make that job a little bit easier. At the very least, you should leave here today with ",{"text":135,"type":57,"marks":136},"a clear gameplan to take control of your marketing expenses",[137],{"type":125},{"text":139,"type":57},". And you may even enjoy yourself along the way.",{"type":50,"attrs":141,"content":143},{"textAlign":52,"key":142},"p-3",[144],{"text":145,"type":57},"Time to get started. If you'd rather just grab a great budget template and take care of this all yourself, here you go:",{"type":147,"attrs":148,"content":150},"heading",{"level":149,"textAlign":52},2,[151],{"text":152,"type":57},"Marketing expenses definition",{"type":50,"attrs":154,"content":156},{"textAlign":52,"key":155},"p-4",[157,159,163],{"text":158,"type":57},"We’re going to talk about marketing and advertising expenses ",{"text":160,"type":57,"marks":161},"for your taxes",[162],{"type":118},{"text":164,"type":57}," in more detail below. These have specific legal implications, and we want to be careful with how we talk about these.",{"type":50,"attrs":166,"content":168},{"textAlign":52,"key":167},"p-5",[169,171,175,177,181],{"text":170,"type":57},"But in general, ",{"text":172,"type":57,"marks":173},"marketing expenses are simply",[174],{"type":125},{"text":176,"type":57}," ",{"text":178,"type":57,"marks":179},"the costs incurred in promoting your business",[180],{"type":125},{"text":182,"type":57},". Traditionally, this meant printing and production of physical collateral, advertising placements in print and on-screen, travel, and employee salaries.",{"type":50,"attrs":184,"content":186},{"textAlign":52,"key":185},"p-6",[187],{"text":188,"type":57},"Today you likely have all these same costs, plus ever-growing digital advertising costs. Companies spend extraordinary amounts on Meta (Facebook), Google, TikTok, and LinkedIn marketing.",{"type":50,"attrs":190,"content":192},{"textAlign":52,"key":191},"p-7",[193],{"text":194,"type":57},"There are also influencer marketing campaigns, AI-powered marketing tools, and online subscription payments - both relatively modern innovations that have exploded in recent times.",{"type":147,"attrs":196,"content":197},{"level":149,"textAlign":52},[198],{"text":199,"type":57},"A list of typical marketing costs",{"type":50,"attrs":201,"content":203},{"textAlign":52,"key":202},"p-8",[204],{"text":205,"type":57},"The full “marketing mix” is constantly growing as digital marketing and growth hacking become the norm. We now have a huge variety of different costs that fall under the marketing umbrella.",{"type":50,"attrs":207,"content":209},{"textAlign":52,"key":208},"p-9",[210],{"text":211,"type":57},"These include (but are certainly not limited to):",{"type":147,"attrs":213,"content":215},{"level":214,"textAlign":52},3,[216],{"text":217,"type":57},"Traditional marketing costs",{"type":219,"content":220},"bullet_list",[221,239,247,255,263,275,283,297,310,318,326],{"type":222,"content":223},"list_item",[224],{"type":50,"attrs":225,"content":227},{"textAlign":52,"key":226},"p-10",[228,230,237],{"text":229,"type":57},"Branding: creating your visual identity, ",{"text":231,"type":57,"marks":232},"logo design",[233],{"type":234,"attrs":235},"link",{"href":236,"uuid":52,"anchor":52,"target":52,"linktype":34},"http://www.designcrowd.com/logo-design",{"text":238,"type":57},", and tone of 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costs for tax purposes. We'll go into more detail on this below.",{"type":50,"attrs":490,"content":492},{"textAlign":52,"key":491},"p-37",[493,495,499],{"text":494,"type":57},"The biggest challenge for marketing managers is to ",{"text":496,"type":57,"marks":497},"stay on top of all of these different payments",[498],{"type":125},{"text":500,"type":57},". It’s quite natural to miss things - to forget about an ongoing subscription or run over budget on a big campaign.",{"type":50,"attrs":502,"content":504},{"textAlign":52,"key":503},"p-38",[505],{"text":506,"type":57},"But just because it’s natural doesn’t mean that it’s acceptable. A well-run business can’t afford to operate that way.",{"type":50,"attrs":508,"content":510},{"textAlign":52,"key":509},"p-39",[511],{"text":512,"type":57},"So how can you monitor and manage all of these costs efficiently? We’ll get to that in a moment, but first we have to talk about tax.",{"type":147,"attrs":514,"content":515},{"level":149,"textAlign":52},[516],{"text":517,"type":57},"Marketing expenses and tax",{"type":50,"attrs":519,"content":520},{"textAlign":52,"key":53},[521,525,532,536,543],{"text":522,"type":57,"marks":523},"Note, this section gives a broad overview of marketing costs and tax principles. You should not rely on this as financial or tax law advice. UK readers can get more information about running a business at ",[524],{"type":118},{"text":526,"type":57,"marks":527},"gov.uk",[528,531],{"type":234,"attrs":529},{"href":530,"uuid":52,"anchor":52,"target":52,"linktype":34},"https://www.gov.uk/browse/business/",{"type":118},{"text":533,"type":57,"marks":534},", while readers in the US should visit ",[535],{"type":118},{"text":537,"type":57,"marks":538},"irs.gov",[539,542],{"type":234,"attrs":540},{"href":541,"uuid":52,"anchor":52,"target":52,"linktype":34},"https://www.irs.gov/credits-deductions/businesses",{"type":118},{"text":127,"type":57,"marks":544},[545],{"type":118},{"type":50,"attrs":547,"content":548},{"textAlign":52,"key":110},[549,551,555],{"text":550,"type":57},"Advertising expenses are important to understand, even if most marketers themselves never have to worry about the accounting implications. Tax deductible expenses let businesses reduce the amount of taxable income they report each year. This means ",{"text":552,"type":57,"marks":553},"your business pays less tax",[554],{"type":118},{"text":127,"type":57},{"type":147,"attrs":557,"content":558},{"level":214,"textAlign":52},[559],{"text":560,"type":57},"Are marketing expenses tax deductible?",{"type":50,"attrs":562,"content":563},{"textAlign":52,"key":130},[564],{"text":565,"type":57},"Very generally, if a cost is related to promoting your brand and selling goods, it counts as an “advertising expense” and is deductible. We’ll look at some specific exceptions to this below.",{"type":50,"attrs":567,"content":568},{"textAlign":52,"key":142},[569,571,575],{"text":570,"type":57},"But you need to ",{"text":572,"type":57,"marks":573},"draw a line between advertising and operating costs",[574],{"type":125},{"text":576,"type":57},". Operating expenses would be incurred whether or not they were part of a marketing campaign, so for accounting purposes you need to keep these separate. They include stationery, insurance, and other basic office supplies.",{"type":50,"attrs":578,"content":579},{"textAlign":52,"key":155},[580,582,588],{"text":581,"type":57},"The other guiding principle is that all tax deductions need to be ordinary and necessary. ",{"text":583,"type":57,"marks":584},"According to the IRS",[585],{"type":234,"attrs":586},{"href":587,"uuid":52,"anchor":52,"target":52,"linktype":34},"https://www.irs.gov/businesses/small-businesses-self-employed/deducting-business-expenses",{"text":589,"type":57},", “an ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business.”",{"type":50,"attrs":591,"content":592},{"textAlign":52,"key":167},[593],{"text":594,"type":57},"The good news is that this leaves a pretty broad scope for deductible marketing expenses.",{"type":50,"attrs":596,"content":597},{"textAlign":52,"key":185},[598,600,604],{"text":599,"type":57},"The most ",{"text":601,"type":57,"marks":602},"common deductible marketing costs include",[603],{"type":125},{"text":605,"type":57},":",{"type":219,"content":607},[608,615,622,629,635,642,649,656],{"type":222,"content":609},[610],{"type":50,"attrs":611,"content":612},{"textAlign":52,"key":191},[613],{"text":614,"type":57},"Salaries and fees for marketing employees and contractors",{"type":222,"content":616},[617],{"type":50,"attrs":618,"content":619},{"textAlign":52,"key":202},[620],{"text":621,"type":57},"Costs associated with public relations",{"type":222,"content":623},[624],{"type":50,"attrs":625,"content":626},{"textAlign":52,"key":208},[627],{"text":628,"type":57},"Direct mail and other promotional collateral",{"type":222,"content":630},[631],{"type":50,"attrs":632,"content":633},{"textAlign":52,"key":226},[634],{"text":304,"type":57},{"type":222,"content":636},[637],{"type":50,"attrs":638,"content":639},{"textAlign":52,"key":243},[640],{"text":641,"type":57},"Sponsorships",{"type":222,"content":643},[644],{"type":50,"attrs":645,"content":646},{"textAlign":52,"key":251},[647],{"text":648,"type":57},"AI marketing software subscriptions",{"type":222,"content":650},[651],{"type":50,"attrs":652,"content":653},{"textAlign":52,"key":259},[654],{"text":655,"type":57},"Influencer partnership fees",{"type":222,"content":657},[658],{"type":50,"attrs":659,"content":660},{"textAlign":52,"key":267},[661],{"text":662,"type":57},"Social media advertising spend",{"type":50,"attrs":664,"content":665},{"textAlign":52,"key":279},[666],{"text":667,"type":57},"Most of the time, if you can show that a cost was incurred principally for the purpose of promoting your business, it will be a marketing expense.",{"type":50,"attrs":669,"content":670},{"textAlign":52,"key":287},[671],{"text":672,"type":57},"Now let’s go further and take a quick look at the differences between rules in the UK and the US.",{"type":147,"attrs":674,"content":675},{"level":214,"textAlign":52},[676],{"text":677,"type":57},"Marketing expenses in the UK",{"type":50,"attrs":679,"content":680},{"textAlign":52,"key":301},[681,683,690],{"text":682,"type":57},"In the United Kingdom, ",{"text":684,"type":57,"marks":685},"businesses can deduct expenses",[686],{"type":234,"attrs":687},{"href":688,"uuid":52,"anchor":52,"target":689,"linktype":34},"https://www.gov.uk/expenses-if-youre-self-employed/marketing-entertainment-subscriptions","_self",{"text":691,"type":57}," for:",{"type":219,"content":693},[694,701,708,715,722,729],{"type":222,"content":695},[696],{"type":50,"attrs":697,"content":698},{"textAlign":52,"key":314},[699],{"text":700,"type":57},"advertising (newspapers, magazines, radio, TV, cinema)",{"type":222,"content":702},[703],{"type":50,"attrs":704,"content":705},{"textAlign":52,"key":322},[706],{"text":707,"type":57},"website costs",{"type":222,"content":709},[710],{"type":50,"attrs":711,"content":712},{"textAlign":52,"key":330},[713],{"text":714,"type":57},"bulk mail advertising",{"type":222,"content":716},[717],{"type":50,"attrs":718,"content":719},{"textAlign":52,"key":345},[720],{"text":721,"type":57},"free samples",{"type":222,"content":723},[724],{"type":50,"attrs":725,"content":726},{"textAlign":52,"key":353},[727],{"text":728,"type":57},"AI marketing tool subscriptions",{"type":222,"content":730},[731],{"type":50,"attrs":732,"content":733},{"textAlign":52,"key":361},[734],{"text":735,"type":57},"Social media management platforms",{"type":50,"attrs":737,"content":738},{"textAlign":52,"key":369},[739],{"text":740,"type":57},"You can even claim subscription payments for tools and industry publications.",{"type":50,"attrs":742,"content":743},{"textAlign":52,"key":377},[744,746,751],{"text":745,"type":57},"What you absolutely can’t claim as a tax deductible expense: entertainment. If you want to take clients out and show them a good time, ",{"text":747,"type":57,"marks":748},"you’ll have to bear the full cost of that",[749],{"type":234,"attrs":750},{"href":688,"uuid":52,"anchor":52,"target":52,"linktype":34},{"text":752,"type":57},". The same goes for any marketing events you host.",{"type":147,"attrs":754,"content":755},{"level":214,"textAlign":52},[756],{"text":757,"type":57},"VAT on marketing expenses ",{"type":50,"attrs":759,"content":760},{"textAlign":52,"key":385},[761],{"text":762,"type":57},"HMRC explains that \"you can usually reclaim the VAT paid on goods and services purchased for use in your business. If a purchase is also for personal or private use, you can only reclaim the business proportion of the VAT.\"",{"type":50,"attrs":764,"content":765},{"textAlign":52,"key":393},[766,768,772],{"text":767,"type":57},"So VAT fits in with our general rule for taxes above. That is, provided it's directly related to business (and these aren't ",{"text":769,"type":57,"marks":770},"entertainment",[771],{"type":118},{"text":773,"type":57}," expenses), there's a good chance you can reclaim the VAT.",{"type":50,"attrs":775,"content":776},{"textAlign":52,"key":401},[777],{"text":778,"type":57},"HMRC gives a few clear exceptions:",{"type":219,"content":780},[781,788,795,802,823,830],{"type":222,"content":782},[783],{"type":50,"attrs":784,"content":785},{"textAlign":52,"key":409},[786],{"text":787,"type":57},"Anything that’s only for private use",{"type":222,"content":789},[790],{"type":50,"attrs":791,"content":792},{"textAlign":52,"key":421},[793],{"text":794,"type":57},"Goods and services your business uses to make VAT-exempt supplies",{"type":222,"content":796},[797],{"type":50,"attrs":798,"content":799},{"textAlign":52,"key":433},[800],{"text":801,"type":57},"Business entertainment costs",{"type":222,"content":803},[804],{"type":50,"attrs":805,"content":806},{"textAlign":52,"key":445},[807,809,821],{"text":808,"type":57},"Anything you’ve bought from an EU country (you may be able to ",{"text":810,"type":57,"marks":811},"reclaim VAT",[812],{"type":234,"attrs":813},{"href":814,"uuid":815,"anchor":52,"target":52,"linktype":816,"story":817},"hmrc-vat-returns","e1851743-195a-4783-b593-cc5da63cdb1e","story",{"name":818,"id":819,"uuid":815,"slug":814,"url":820,"full_slug":820,"_stopResolving":38},"HMRC VAT returns: an introduction for UK businesses",208802999,"blog/hmrc-vat-returns",{"text":822,"type":57}," charged under the electronic cross-border refund system)",{"type":222,"content":824},[825],{"type":50,"attrs":826,"content":827},{"textAlign":52,"key":457},[828],{"text":829,"type":57},"Goods sold to you under one of the VAT second-hand margin schemes",{"type":222,"content":831},[832],{"type":50,"attrs":833,"content":834},{"textAlign":52,"key":467},[835],{"text":836,"type":57},"Business assets that are transferred to you as a going concern",{"type":50,"attrs":838,"content":839},{"textAlign":52,"key":477},[840],{"text":841,"type":57,"marks":842},"Read more on the HMRC website.",[843],{"type":234,"attrs":844},{"href":845,"uuid":52,"anchor":52,"target":52,"linktype":34},"https://www.gov.uk/reclaim-vat",{"type":147,"attrs":847,"content":848},{"level":214,"textAlign":52},[849],{"text":850,"type":57},"Marketing expenses in the US",{"type":50,"attrs":852,"content":853},{"textAlign":52,"key":485},[854,856,862],{"text":855,"type":57},"The big difference between rules in the US and the UK revolves around events. If an event is specifically for promotion and advertising, this is a ",{"text":857,"type":57,"marks":858},"deductible expense in the US",[859],{"type":234,"attrs":860},{"href":861,"uuid":52,"anchor":52,"target":52,"linktype":34},"https://www.thebalancesmb.com/what-business-advertising-expenses-are-deductible-398945",{"text":127,"type":57},{"type":50,"attrs":864,"content":865},{"textAlign":52,"key":491},[866],{"text":867,"type":57},"“If you have a grand opening event for your local community that includes a meal and entertainment, the IRS considers this advertising, and you can deduct the full cost of the event, including food and entertainment.”",{"type":50,"attrs":869,"content":870},{"textAlign":52,"key":503},[871],{"text":872,"type":57},"What’s not deductible:",{"type":219,"content":874},[875,882,890,910,918],{"type":222,"content":876},[877],{"type":50,"attrs":878,"content":879},{"textAlign":52,"key":509},[880],{"text":881,"type":57},"Political donations or advertising that indirectly aids a political campaign",{"type":222,"content":883},[884],{"type":50,"attrs":885,"content":887},{"textAlign":52,"key":886},"p-40",[888],{"text":889,"type":57},"Personal hobbies like attending sports events, even if you go with a client",{"type":222,"content":891},[892],{"type":50,"attrs":893,"content":895},{"textAlign":52,"key":894},"p-41",[896,902,904,908],{"text":897,"type":57,"marks":898},"Donations to some charities",[899],{"type":234,"attrs":900},{"href":901,"uuid":52,"anchor":52,"target":309,"linktype":34},"https://donorbox.org/nonprofit-blog/types-of-donations",{"text":903,"type":57},". This depends on the classification of the organisation, and it may matter if you specify ",{"text":905,"type":57,"marks":906},"how",[907],{"type":118},{"text":909,"type":57}," the money is spent",{"type":222,"content":911},[912],{"type":50,"attrs":913,"content":915},{"textAlign":52,"key":914},"p-42",[916],{"text":917,"type":57},"Losses as a result of promotional discounts",{"type":222,"content":919},[920],{"type":50,"attrs":921,"content":923},{"textAlign":52,"key":922},"p-43",[924],{"text":925,"type":57},"Mileage (as an advertising expense)",{"type":50,"attrs":927,"content":929},{"textAlign":52,"key":928},"p-44",[930,932,937,939,943],{"text":931,"type":57},"It’s easy to get confused about that last one. Because ",{"text":933,"type":57,"marks":934},"vehicle advertising is deductible",[935],{"type":234,"attrs":936},{"href":861,"uuid":52,"anchor":52,"target":52,"linktype":34},{"text":938,"type":57},". “You can deduct the cost of putting an advertisement for your business on your car (business or personal), but ",{"text":940,"type":57,"marks":941},"you can't deduct the cost of driving your car around town as an advertising expense",[942],{"type":125},{"text":944,"type":57},".”",{"type":946,"attrs":947},"blok",{"id":948,"body":949},"206929e1-6e99-449b-9cc4-7c8c25c3bd99",[950],{"_uid":951,"html":952,"component":953},"i-aa3916c5-2232-4173-b1c5-18900ef8d291","\u003C!--HubSpot Call-to-Action Code -->\u003Cspan class=\"hs-cta-wrapper\" id=\"hs-cta-wrapper-558fde32-598e-4dfc-bf2f-536eb365326d\">\u003Cspan class=\"hs-cta-node hs-cta-558fde32-598e-4dfc-bf2f-536eb365326d\" id=\"hs-cta-558fde32-598e-4dfc-bf2f-536eb365326d\">\u003C!--[if lte IE 8]>\u003Cdiv id=\"hs-cta-ie-element\">\u003C/div>\u003C![endif]-->\u003Ca href=\"https://cta-redirect.hubspot.com/cta/redirect/2694209/558fde32-598e-4dfc-bf2f-536eb365326d\" >\u003Cimg class=\"hs-cta-img\" id=\"hs-cta-img-558fde32-598e-4dfc-bf2f-536eb365326d\" style=\"border-width:0px;\" src=\"https://no-cache.hubspot.com/cta/default/2694209/558fde32-598e-4dfc-bf2f-536eb365326d.png\"  alt=\"New call-to-action\"/>\u003C/a>\u003C/span>\u003Cscript charset=\"utf-8\" src=\"https://js.hscta.net/cta/current.js\">\u003C/script>\u003Cscript type=\"text/javascript\"> hbspt.cta.load(2694209, '558fde32-598e-4dfc-bf2f-536eb365326d', {\"useNewLoader\":\"true\",\"region\":\"na1\"}); \u003C/script>\u003C/span>\u003C!-- end HubSpot Call-to-Action Code -->","embed",{"type":147,"attrs":955,"content":956},{"level":149,"textAlign":52},[957],{"text":958,"type":57},"How to properly manage marketing expenses in 2025",{"type":50,"attrs":960,"content":962},{"textAlign":52,"key":961},"p-45",[963,965,976],{"text":964,"type":57},"Time for a little strategy. You need to know exactly where your marketing budget is going. And more importantly, you want to be able to put your ",{"text":966,"type":57,"marks":967},"company cash",[968],{"type":234,"attrs":969},{"href":970,"uuid":971,"anchor":52,"target":52,"linktype":816,"story":972},"cash-budget","288ad1be-bdd3-428b-9d7f-9f0d899c3b2e",{"name":973,"id":974,"uuid":971,"slug":970,"url":975,"full_slug":975,"_stopResolving":38},"How to manage a cash budget for your business",208803060,"blog/cash-budget",{"text":977,"type":57}," to its best possible use.",{"type":50,"attrs":979,"content":981},{"textAlign":52,"key":980},"p-46",[982],{"text":983,"type":57},"Here’s how to achieve that.",{"type":147,"attrs":985,"content":986},{"level":214,"textAlign":52},[987],{"text":988,"type":57},"1. Set clear marketing goals",{"type":50,"attrs":990,"content":992},{"textAlign":52,"key":991},"p-47",[993],{"text":994,"type":57},"It's a cliché, but failing to plan is planning to fail. And good planning always begins with identifying your goals and targets.",{"type":50,"attrs":996,"content":998},{"textAlign":52,"key":997},"p-48",[999,1001,1005],{"text":1000,"type":57},"While SMART goals remain relevant, ",{"text":1002,"type":57,"marks":1003},"2025 marketing requires more sophisticated goal-setting frameworks",[1004],{"type":125},{"text":605,"type":57},{"type":50,"attrs":1007,"content":1009},{"textAlign":52,"key":1008},"p-49",[1010,1014,1016,1020],{"text":1011,"type":57,"marks":1012},"Objectives and Key Results ",[1013],{"type":125},{"text":1015,"type":57},"(",{"text":1017,"type":57,"marks":1018},"OKRs) ",[1019],{"type":125},{"text":1021,"type":57},"are increasingly popular for marketing teams:",{"type":50,"attrs":1023,"content":1025},{"textAlign":52,"key":1024},"p-50",[1026,1030,1032,1034,1038],{"text":1027,"type":57,"marks":1028},"Objective",[1029],{"type":125},{"text":1031,"type":57},": Increase brand awareness in target market",{"type":1033},"hard_break",{"text":1035,"type":57,"marks":1036},"Key results",[1037],{"type":125},{"text":1039,"type":57},": Achieve 50% increase in branded search volume, generate 10,000 new social media followers and secure 25 high-authority backlinks",{"type":50,"attrs":1041,"content":1043},{"textAlign":52,"key":1042},"p-51",[1044,1048],{"text":1045,"type":57,"marks":1046},"North Star Metrics (NSMs)",[1047],{"type":125},{"text":1049,"type":57}," help align all marketing activities:",{"type":219,"content":1051},[1052,1060],{"type":222,"content":1053},[1054],{"type":50,"attrs":1055,"content":1057},{"textAlign":52,"key":1056},"p-52",[1058],{"text":1059,"type":57},"Focus on one primary metric that drives business growth",{"type":222,"content":1061},[1062],{"type":50,"attrs":1063,"content":1065},{"textAlign":52,"key":1064},"p-53",[1066],{"text":1067,"type":57},"Examples: Monthly Recurring Revenue (MRR), Customer Lifetime Value (CLV), or Net Promoter Score (NPS)",{"type":147,"attrs":1069,"content":1071},{"level":1070,"textAlign":52},4,[1072],{"text":1073,"type":57,"marks":1074},"Why modern goal-setting matters for budgeting",[1075],{"type":125},{"type":50,"attrs":1077,"content":1079},{"textAlign":52,"key":1078},"p-54",[1080,1082,1086],{"text":1081,"type":57},"Setting sophisticated objectives is essential for ",{"text":1083,"type":57,"marks":1084},"justifying marketing spend to leadership",[1085],{"type":125},{"text":1087,"type":57},". When you can tie every expense directly to measurable business outcomes, budget approvals become much easier.",{"type":50,"attrs":1089,"content":1091},{"textAlign":52,"key":1090},"p-55",[1092],{"text":1093,"type":57},"Once you've defined exactly what you want to achieve, you have a better idea of where to deploy company money. If a particular campaign or action will help you get to these targets, it deserves financial support.",{"type":147,"attrs":1095,"content":1096},{"level":214,"textAlign":52},[1097],{"text":1098,"type":57},"2. Choose your marketing strategy",{"type":50,"attrs":1100,"content":1102},{"textAlign":52,"key":1101},"p-56",[1103,1105,1111],{"text":1104,"type":57},"As ",{"text":1106,"type":57,"marks":1107},"Nathan Ellering writes for CoSchedule",[1108],{"type":234,"attrs":1109},{"href":1110,"uuid":52,"anchor":52,"target":52,"linktype":34},"https://coschedule.com/marketing-strategy/",{"text":1112,"type":57},", \"a marketing strategy provides the roadmap for you and your team to execute well-planned projects you’ll measure against a clearly defined goal.",{"type":50,"attrs":1114,"content":1116},{"textAlign":52,"key":1115},"p-57",[1117],{"text":1118,"type":57},"This process not only helps you target the right audience with the right content and the right level of effort, but helps you literally understand the impact marketing projects have upon the growth of your organisation.\"",{"type":50,"attrs":1120,"content":1122},{"textAlign":52,"key":1121},"p-58",[1123],{"text":1124,"type":57},"As marketing channels continue to evolve, your strategy needs to reflect current opportunities and challenges.",{"type":50,"attrs":1126,"content":1128},{"textAlign":52,"key":1127},"p-59",[1129],{"text":1130,"type":57},"Do you want to put your resources into a thriving website and blog? Will you pump large sums into LinkedIn and Meta ads, and focus on optimising conversions? Or will you focus on building a large email list to send tailored email blasts?",{"type":50,"attrs":1132,"content":1134},{"textAlign":52,"key":1133},"p-60",[1135],{"text":1136,"type":57},"There is a lot of cheap email marketing software available these days, so perhaps you'll set aside a small portion of the budget for that, for example. Among the best-known are MailChimp, Constant Contact, Moosend, and Sendx.io. Once you select the right one for your needs, you'll need to set aside a small portion of the budget for that, for example.",{"type":50,"attrs":1138,"content":1140},{"textAlign":52,"key":1139},"p-61",[1141,1143,1147],{"text":1142,"type":57},"To properly plan out your budget for the year (coming shortly), ",{"text":1144,"type":57,"marks":1145},"you need to know how reliant you'll be on each strategy",[1146],{"type":125},{"text":127,"type":57},{"type":50,"attrs":1149,"content":1151},{"textAlign":52,"key":1150},"p-62",[1152],{"text":1153,"type":57},"We're going to carry on with the financial gameplan, and assume that you've thought about your marketing strategy already. If you need help with the latter, here's an excellent guide to building a content marketing strategy.",{"type":50,"attrs":1155,"content":1157},{"textAlign":52,"key":1156},"p-63",[1158],{"text":1159,"type":57},"And of course it can be used for a whole range of marketing challenges and techniques.",{"type":147,"attrs":1161,"content":1162},{"level":214,"textAlign":52},[1163],{"text":1164,"type":57},"3. Create (or download) a good marketing budget template",{"type":50,"attrs":1166,"content":1168},{"textAlign":52,"key":1167},"p-64",[1169,1171,1183],{"text":1170,"type":57},"To stay on top of costs, you need to track spending in one place. For this, the simplest option is to have a master ",{"text":1172,"type":57,"marks":1173},"marketing budget template",[1174],{"type":234,"attrs":1175},{"href":1176,"uuid":1177,"anchor":52,"target":689,"linktype":816,"story":1178},"/blog/marketing-budget-templates","29e80099-a1a9-4e1e-a778-d4bea75db29e",{"name":1179,"id":1180,"uuid":1177,"slug":1181,"url":1182,"full_slug":1182,"_stopResolving":38},"Five free marketing budget templates to use immediately",208736902,"marketing-budget-templates","blog/marketing-budget-templates",{"text":1184,"type":57}," that you can update and refer to regularly to make sure you’re on the right track.",{"type":50,"attrs":1186,"content":1188},{"textAlign":52,"key":1187},"p-65",[1189,1191,1195,1197,1201],{"text":1190,"type":57},"This will let you plot out your proposed spending at the beginning of a quarter or year, and ",{"text":1192,"type":57,"marks":1193},"line up each likely expense with the goals you’ve already set",[1194],{"type":125},{"text":1196,"type":57},". And then vitally, you’re able to ",{"text":1198,"type":57,"marks":1199},"keep it up to date in real time as your team spends its budget",[1200],{"type":125},{"text":127,"type":57},{"type":50,"attrs":1203,"content":1205},{"textAlign":52,"key":1204},"p-66",[1206],{"text":1207,"type":57},"For most companies, important expenses will include:",{"type":219,"content":1209},[1210,1226,1234,1242,1250],{"type":222,"content":1211},[1212],{"type":50,"attrs":1213,"content":1215},{"textAlign":52,"key":1214},"p-67",[1216,1218,1224],{"text":1217,"type":57},"Marketing software (including ",{"text":1219,"type":57,"marks":1220},"automation tools",[1221],{"type":234,"attrs":1222},{"href":1223,"uuid":52,"anchor":52,"target":52,"linktype":34},"https://automizy.com/blog/marketing-automation-campaign-examples/",{"text":1225,"type":57}," and a CRM)",{"type":222,"content":1227},[1228],{"type":50,"attrs":1229,"content":1231},{"textAlign":52,"key":1230},"p-68",[1232],{"text":1233,"type":57},"Design and development of digital and physical assets",{"type":222,"content":1235},[1236],{"type":50,"attrs":1237,"content":1239},{"textAlign":52,"key":1238},"p-69",[1240],{"text":1241,"type":57},"Travel to events (and the collateral your marketers take with them)",{"type":222,"content":1243},[1244],{"type":50,"attrs":1245,"content":1247},{"textAlign":52,"key":1246},"p-70",[1248],{"text":1249,"type":57},"Digital advertising for search and social media",{"type":222,"content":1251},[1252],{"type":50,"attrs":1253,"content":1255},{"textAlign":52,"key":1254},"p-71",[1256],{"text":1257,"type":57},"One-off campaigns to generate leads or build awareness",{"type":50,"attrs":1259,"content":1261},{"textAlign":52,"key":1260},"p-72",[1262],{"text":1263,"type":57},"This should have room for consistent, ongoing expenditure - like subscription payments for tools - and unknown (but significant) one-off costs for campaigns and events.",{"type":50,"attrs":1265,"content":1267},{"textAlign":52,"key":1266},"p-73",[1268],{"text":1269,"type":57},"And since you're looking, here’s a great (free) template you can use:",{"type":147,"attrs":1271,"content":1272},{"level":214,"textAlign":52},[1273],{"text":1274,"type":57},"4. Set out your budget",{"type":50,"attrs":1276,"content":1278},{"textAlign":52,"key":1277},"p-74",[1279],{"text":1280,"type":57},"Once you have a good budget template ready, it’s time to fill in the gaps and put actual spending proposals in place.",{"type":50,"attrs":1282,"content":1284},{"textAlign":52,"key":1283},"p-75",[1285,1287,1291],{"text":1286,"type":57},"As the marketing manager, you’re probably not ultimately in charge of the company funds. You’re given a lump sum for your team, and ",{"text":1288,"type":57,"marks":1289},"it’s your job to figure out how much money to put where",[1290],{"type":125},{"text":127,"type":57},{"type":50,"attrs":1293,"content":1295},{"textAlign":52,"key":1294},"p-76",[1296],{"text":1297,"type":57},"The great part about building a clear marketing budget from the beginning is that it shows the executive team that you’re on top of everything. More importantly, once expenses are validated by the CEO or CFO, that’s now your money to spend. And you can remind them from the beginning how important each cost is to hitting your targets.",{"type":50,"attrs":1299,"content":1301},{"textAlign":52,"key":1300},"p-77",[1302],{"text":1303,"type":57},"Some founders and CEOs keep a much tighter grip on the purse strings. They expect you to come to them for every single purchase, and to keep spending as low as possible.",{"type":50,"attrs":1305,"content":1307},{"textAlign":52,"key":1306},"p-78",[1308,1310,1314],{"text":1309,"type":57},"While this might potentially keep overall spending down, it gives less context to each individual purchase. ",{"text":1311,"type":57,"marks":1312},"They don’t always know why you’re spending a certain amount in relation to your team’s goals",[1313],{"type":125},{"text":1315,"type":57},". You just know you need the money for this week’s campaign.",{"type":50,"attrs":1317,"content":1319},{"textAlign":52,"key":1318},"p-79",[1320],{"text":1321,"type":57},"In the long run, this makes marketing money much harder to manage.",{"type":50,"attrs":1323,"content":1325},{"textAlign":52,"key":1324},"p-80",[1326,1328,1332],{"text":1327,"type":57},"The best case scenario is to set out your budget for the full year, broken down into quarters (or even months). If company executives aren’t willing to sign off on this, ",{"text":1329,"type":57,"marks":1330},"push for a quarterly budget at least",[1331],{"type":125},{"text":127,"type":57},{"type":50,"attrs":1334,"content":1336},{"textAlign":52,"key":1335},"p-81",[1337,1339,1345],{"text":1338,"type":57},"And watch out for surprises! ",{"text":1340,"type":57,"marks":1341},"According to Allocadia",[1342],{"type":234,"attrs":1343},{"href":1344,"uuid":52,"anchor":52,"target":52,"linktype":34},"https://www.allocadia.com/blog/tips-and-tricks/how-to-build-out-a-marketing-budget/",{"text":1346,"type":57},", \"it’s easy to forget about subscriptions, retainers and pre-paid vendor agreements (such as conference exhibit fees). These are non-negotiable pieces of this year’s budget, and failing to include them in the plan will create confusion later on.\"",{"type":50,"attrs":1348,"content":1350},{"textAlign":52,"key":1349},"p-82",[1351,1353,1357],{"text":1352,"type":57},"Make sure ",{"text":1354,"type":57,"marks":1355},"everyone knows what you plan to spend in advance",[1356],{"type":125},{"text":1358,"type":57},", and there are no nasty surprises.",{"type":147,"attrs":1360,"content":1361},{"level":214,"textAlign":52},[1362,1364,1367],{"text":1363,"type":57},"5. Understand ",{"text":905,"type":57,"marks":1365},[1366],{"type":118},{"text":1368,"type":57}," to spend effectively",{"type":50,"attrs":1370,"content":1372},{"textAlign":52,"key":1371},"p-83",[1373],{"text":1374,"type":57},"We’ve written about this plenty of times before, but the way that most businesses pay for things is broken. Most employees don’t have easy access to company money - which is understandable.",{"type":50,"attrs":1376,"content":1378},{"textAlign":52,"key":1377},"p-84",[1379,1381,1385],{"text":1380,"type":57},"But this means that, when it’s time for your marketing team to spend, ",{"text":1382,"type":57,"marks":1383},"it’s never going to be as easy as it should be",[1384],{"type":125},{"text":127,"type":57},{"type":50,"attrs":1387,"content":1389},{"textAlign":52,"key":1388},"p-85",[1390],{"text":1391,"type":57},"Marketing payments usually fall into three main categories:",{"type":219,"content":1393},[1394,1406,1418],{"type":222,"content":1395},[1396],{"type":50,"attrs":1397,"content":1399},{"textAlign":52,"key":1398},"p-86",[1400,1404],{"text":1401,"type":57,"marks":1402},"Online payments",[1403],{"type":125},{"text":1405,"type":57}," for tools and digital ads. These are typically made with a company credit card.",{"type":222,"content":1407},[1408],{"type":50,"attrs":1409,"content":1411},{"textAlign":52,"key":1410},"p-87",[1412,1416],{"text":1413,"type":57,"marks":1414},"Invoice payments",[1415],{"type":125},{"text":1417,"type":57}," for freelancers, agencies, and consultants.",{"type":222,"content":1419},[1420],{"type":50,"attrs":1421,"content":1423},{"textAlign":52,"key":1422},"p-88",[1424,1428],{"text":1425,"type":57,"marks":1426},"Travel expenses and other incidentals.",[1427],{"type":125},{"text":1429,"type":57}," In most companies, employees pay upfront and then are reimbursed by the company (eventually). Very occasionally, they’re given access to a company credit card.",{"type":50,"attrs":1431,"content":1433},{"textAlign":52,"key":1432},"p-89",[1434,1436,1440],{"text":1435,"type":57},"What makes this difficult for managers to track is that ",{"text":1437,"type":57,"marks":1438},"these methods aren’t connected to one another",[1439],{"type":125},{"text":1441,"type":57},". Even if the manager or CMO personally handles every credit card payment online, that still leaves employees to file their own expense reports after attending a conference or visiting clients.",{"type":50,"attrs":1443,"content":1445},{"textAlign":52,"key":1444},"p-90",[1446,1448],{"text":1447,"type":57},"The better strategy is to have a centralised ",{"text":1449,"type":57,"marks":1450},"spend management system.",[1451],{"type":234,"attrs":1452},{"href":1453,"uuid":1454,"anchor":52,"target":689,"linktype":816,"story":1455},"/spend-management-software","548ca69c-c472-401d-b952-906e8280e91e",{"name":1456,"id":1457,"uuid":1454,"slug":1458,"url":1458,"full_slug":1458,"_stopResolving":38},"Spend management software",128789700,"spend-management-software",{"type":50,"attrs":1460,"content":1462},{"textAlign":52,"key":1461},"p-91",[1463,1465,1476,1478,1482],{"text":1464,"type":57},"We won’t go into deep detail here - we’ve broken down ",{"text":1466,"type":57,"marks":1467},"spend management",[1468],{"type":234,"attrs":1469},{"href":1470,"uuid":1471,"anchor":52,"target":689,"linktype":816,"story":1472},"/glossary/spend-management","47dad6e2-00cd-42dc-ac3b-ca346a036e47",{"name":1473,"id":1474,"uuid":1471,"slug":1473,"url":1475,"full_slug":1475,"_stopResolving":38},"spend-management",172166290,"glossary/spend-management",{"text":1477,"type":57}," before. The major benefit is that these platforms bring all of your payment methods into one place. This lets finance teams and business team leaders ",{"text":1479,"type":57,"marks":1480},"see what employees spend in real time",[1481],{"type":125},{"text":1483,"type":57},", no matter how the money is spent.",{"type":50,"attrs":1485,"content":1487},{"textAlign":52,"key":1486},"p-92",[1488],{"text":1489,"type":57},"When you’re trying to manage a large budget on the go, this is invaluable.",{"type":147,"attrs":1491,"content":1492},{"level":214,"textAlign":52},[1493],{"text":1494,"type":57},"6. Keep your budget up to date",{"type":50,"attrs":1496,"content":1498},{"textAlign":52,"key":1497},"p-93",[1499],{"text":1500,"type":57},"Whereas building your annual budget can be intimidating, keeping it updated is more tedious. But it’s obviously essential.",{"type":50,"attrs":1502,"content":1504},{"textAlign":52,"key":1503},"p-94",[1505,1507,1511,1513,1517],{"text":1506,"type":57},"The whole point of laying out your budget at the beginning is to ",{"text":1508,"type":57,"marks":1509},"give yourself a reference point as the year moves along",[1510],{"type":125},{"text":1512,"type":57},". So each week (or perhaps month), you need to go back into that budget template and write down what you ",{"text":1514,"type":57,"marks":1515},"actually",[1516],{"type":118},{"text":1518,"type":57}," spent.",{"type":50,"attrs":1520,"content":1522},{"textAlign":52,"key":1521},"p-95",[1523,1525,1529,1531,1535],{"text":1524,"type":57},"In some cases, ",{"text":1526,"type":57,"marks":1527},"this is a way to keep a lid on things",[1528],{"type":125},{"text":1530,"type":57},". Spending on certain activities (",{"text":1532,"type":57,"marks":1533},"hello, Facebook advertising",[1534],{"type":118},{"text":1536,"type":57},") can snowball in a hurry. As soon as you start seeing clicks and leads coming in, you want to chase them with as much money as possible.",{"type":50,"attrs":1538,"content":1540},{"textAlign":52,"key":1539},"p-96",[1541],{"text":1542,"type":57},"In other cases, you’ll actually have ammunition to increase spending. As Ana Gotter writes for Singlegrain, \"businesses focused on scaling aggressively will likely go all in on PPC campaigns. Their ad spend may be higher, because they’re willing to invest a lot in campaigns that help them reach high-intent users actively searching for products or services like theirs. They also might be paying more to be reviewed on industry blogs or to have sponsored posts from trusted influencers.\"",{"type":50,"attrs":1544,"content":1546},{"textAlign":52,"key":1545},"p-97",[1547,1551,1553,1557],{"text":1548,"type":57,"marks":1549},"One vital thing to remember",[1550],{"type":125},{"text":1552,"type":57},": The easier it is to actually ",{"text":1554,"type":57,"marks":1555},"see",[1556],{"type":118},{"text":1558,"type":57}," all your payments in real time, the more efficient this will be. If you have to chase teammates constantly for expense reports, and check emails for software invoices, this time will quickly add up.",{"type":50,"attrs":1560,"content":1562},{"textAlign":52,"key":1561},"p-98",[1563],{"text":1564,"type":57},"We’ll talk more about visibility in a moment, but this usually comes down to having the right payment methods in place.",{"type":147,"attrs":1566,"content":1567},{"level":214,"textAlign":52},[1568],{"text":1569,"type":57},"7. Make smart decisions based on data",{"type":50,"attrs":1571,"content":1573},{"textAlign":52,"key":1572},"p-99",[1574,1576,1580,1581,1585],{"text":1575,"type":57},"The final step is simply to actually ",{"text":1577,"type":57,"marks":1578},"use",[1579],{"type":118},{"text":176,"type":57},{"text":1582,"type":57,"marks":1583},"the information you have",[1584],{"type":118},{"text":1586,"type":57},". With a close eye on your marketing expenses, you should be able to see which payments are helping, and which aren’t.",{"type":50,"attrs":1588,"content":1590},{"textAlign":52,"key":1589},"p-100",[1591,1593,1597],{"text":1592,"type":57},"As we said above, you’ll also know when you have money to spend. This might free you up to attack bigger projects in the final quarter, or to simply ",{"text":1594,"type":57,"marks":1595},"double down on some of the strategies that have worked best",[1596],{"type":125},{"text":1598,"type":57}," to date.",{"type":50,"attrs":1600,"content":1602},{"textAlign":52,"key":1601},"p-101",[1603],{"text":1604,"type":57},"And remember those goals we set in step 1? Now is the time to look at how you’ve spent your budget so far and ask whether each action helped bring you closer to achieving them. If not, you probably need to rethink how you’ve been spending.",{"type":50,"attrs":1606,"content":1608},{"textAlign":52,"key":1607},"p-102",[1609,1611],{"text":1610,"type":57},"The point is, by having your team’s financial information at hand, you’re ",{"text":1612,"type":57,"marks":1613},"better equipped to manage marketing costs effectively.",[1614],{"type":125},{"type":147,"attrs":1616,"content":1617},{"level":149,"textAlign":52},[1618],{"text":1619,"type":57},"Guiding principles to manage costs",{"type":50,"attrs":1621,"content":1623},{"textAlign":52,"key":1622},"p-103",[1624],{"text":1625,"type":57},"So that was a strategy in seven steps. It’s not overly complicated, but it does require a little desire and discipline on your part.",{"type":50,"attrs":1627,"content":1629},{"textAlign":52,"key":1628},"p-104",[1630],{"text":1631,"type":57},"On top of these steps, here are a few overarching principles to keep in mind as you go.",{"type":147,"attrs":1633,"content":1634},{"level":214,"textAlign":52},[1635],{"text":1636,"type":57},"Oversight is essential",{"type":50,"attrs":1638,"content":1640},{"textAlign":52,"key":1639},"p-105",[1641,1645],{"text":1642,"type":57,"marks":1643},"If you can’t easily see what you’re spending, controlling marketing spend will be painful",[1644],{"type":125},{"text":1646,"type":57},". Which means that marketing leaders need to ensure they have real-time visibility over their team’s payments.",{"type":50,"attrs":1648,"content":1650},{"textAlign":52,"key":1649},"p-106",[1651],{"text":1652,"type":57},"This isn’t so difficult when you have discrete, one-off campaigns. Every payment is top-of-mind and you’re able to keep clear notes of all of them.",{"type":50,"attrs":1654,"content":1656},{"textAlign":52,"key":1655},"p-107",[1657],{"text":1658,"type":57},"But it gets tricky if you’re dealing with a high number of ongoing online payments. You may not remember who authorised them or when they’re due. A big contract renewal to HubSpot, Marketo, or Pardot can be an unwelcome surprise.",{"type":147,"attrs":1660,"content":1661},{"level":214,"textAlign":52},[1662],{"text":1663,"type":57},"Treat the company money like it’s your own",{"type":50,"attrs":1665,"content":1667},{"textAlign":52,"key":1666},"p-108",[1668,1670,1681],{"text":1669,"type":57},"Handling big ",{"text":1671,"type":57,"marks":1672},"marketing budgets",[1673],{"type":234,"attrs":1674},{"href":1675,"uuid":1676,"anchor":52,"target":689,"linktype":816,"story":1677},"/marketing-budget-software","1d23cbc0-c6e6-4597-a616-0263685fbb70",{"name":1678,"id":1679,"uuid":1676,"slug":1680,"url":1680,"full_slug":1680,"_stopResolving":38},"Marketing Budget Software (Collab budgets)",257719955,"marketing-budget-software",{"text":1682,"type":57}," is exciting. Turning all of those pounds and dollars into paying customers is what it’s all about.",{"type":50,"attrs":1684,"content":1686},{"textAlign":52,"key":1685},"p-109",[1687,1689,1693],{"text":1688,"type":57},"But as soon as things slow down - which is bound to happen eventually - ",{"text":1690,"type":57,"marks":1691},"management is going to want to know where the money goes",[1692],{"type":125},{"text":127,"type":57},{"type":50,"attrs":1695,"content":1697},{"textAlign":52,"key":1696},"p-110",[1698,1704],{"text":1699,"type":57,"marks":1700},"According to Forbes",[1701],{"type":234,"attrs":1702},{"href":1703,"uuid":52,"anchor":52,"target":52,"linktype":34},"https://www.forbes.com/sites/steveolenski/2018/07/27/how-cmos-should-be-managing-their-marketing-budgets/#75f908af26c7",{"text":1705,"type":57},", “you should be painfully aware of how much each strategy costs you, both in the short-term and long-term, and have a plan for variances in each strategy.\"",{"type":50,"attrs":1707,"content":1709},{"textAlign":52,"key":1708},"p-111",[1710,1712,1716],{"text":1711,"type":57},"The point isn’t to pinch every penny. You’ve been given this money to spend it, after all. But you do ",{"text":1713,"type":57,"marks":1714},"need to know exactly how much specific campaigns cost",[1715],{"type":125},{"text":1717,"type":57}," along the way, and be ready to argue for their value when the time comes.",{"type":147,"attrs":1719,"content":1720},{"level":214,"textAlign":52},[1721],{"text":1722,"type":57},"Don’t put all your eggs in one basket",{"type":50,"attrs":1724,"content":1726},{"textAlign":52,"key":1725},"p-112",[1727,1729,1733],{"text":1728,"type":57},"You want a nice broad marketing mix, including lots of the spend categories we mentioned above. This doesn’t just give you different ways to find new customers, it also ",{"text":1730,"type":57,"marks":1731},"helps you minimise risk",[1732],{"type":125},{"text":127,"type":57},{"type":50,"attrs":1735,"content":1737},{"textAlign":52,"key":1736},"p-113",[1738,1742,1744,1750],{"text":1739,"type":57,"marks":1740},"Allocate budget to a range of different platforms or campaigns",[1741],{"type":125},{"text":1743,"type":57},", and look closely at the expected return of each. \"In addition to the obvious costs of a specific platform—like the estimated PPC cost—you also want to look for “hidden” costs that will affect the ROI of each platform and how much you need to spend on it,\" advises ",{"text":1745,"type":57,"marks":1746},"Disrupted Advertising",[1747],{"type":234,"attrs":1748},{"href":1749,"uuid":52,"anchor":52,"target":52,"linktype":34},"https://www.disruptiveadvertising.com/marketing/marketing-budget/",{"text":127,"type":57},{"type":50,"attrs":1752,"content":1754},{"textAlign":52,"key":1753},"p-114",[1755,1757],{"text":1756,"type":57},"But this is a balancing act. You want to diversify and ensure that you’re trying different strategies ",{"text":1758,"type":57,"marks":1759},"without spreading your team too thin.",[1760],{"type":118},{"type":147,"attrs":1762,"content":1763},{"level":214,"textAlign":52},[1764],{"text":1765,"type":57},"Be willing to change",{"type":50,"attrs":1767,"content":1769},{"textAlign":52,"key":1768},"p-115",[1770],{"text":1771,"type":57},"Once you’ve found a strategy that works for you, it can be hard to do anything else. The same goes for a good agency or freelancer.",{"type":50,"attrs":1773,"content":1775},{"textAlign":52,"key":1774},"p-116",[1776],{"text":1777,"type":57},"From a strictly cost-cutting perspective, this may not be ideal. It’s wonderful to have a suitable gameplan, but not if it closes you off to better options.",{"type":50,"attrs":1779,"content":1781},{"textAlign":52,"key":1780},"p-117",[1782,1784,1788],{"text":1783,"type":57},"The goal should be to ",{"text":1785,"type":57,"marks":1786},"have clear processes in place that let you be flexible when you need to",[1787],{"type":125},{"text":1789,"type":57},". A basic approach to marketing campaigns that can be easily adapted whenever you need it to be.",{"type":50,"attrs":1791,"content":1793},{"textAlign":52,"key":1792},"p-118",[1794],{"text":1795,"type":57},"This ensures that you can work with new suppliers and modern platforms, without reinventing the wheel every time you launch a new campaign.",{"type":147,"attrs":1797,"content":1798},{"level":214,"textAlign":52},[1799],{"text":1800,"type":57},"Prioritise properly",{"type":50,"attrs":1802,"content":1804},{"textAlign":52,"key":1803},"p-119",[1805,1807,1811],{"text":1806,"type":57},"Yes, you need to be flexible and try new things. You also sometimes need to quit while you’re ahead, and ",{"text":1808,"type":57,"marks":1809},"kill projects altogether if they aren’t helping",[1810],{"type":125},{"text":127,"type":57},{"type":50,"attrs":1813,"content":1815},{"textAlign":52,"key":1814},"p-120",[1816,1818,1824],{"text":1817,"type":57},"But your marketing team should have clear goals in place. And these should always be the starting point. As ",{"text":1819,"type":57,"marks":1820},"Opportunity Marketing",[1821],{"type":234,"attrs":1822},{"href":1823,"uuid":52,"anchor":52,"target":52,"linktype":34},"https://opportunitymarketing.co.uk/blog/how-to-set-a-marketing-budget",{"text":1825,"type":57}," writes, \"please don’t invest in marketing activity just because you feel “we have to” or “that’s what you are supposed to do isn’t it?”  With the growing prevalence of online channels, planning and implementing marketing campaigns on- and off-line can quickly become a minefield!",{"type":50,"attrs":1827,"content":1829},{"textAlign":52,"key":1828},"p-121",[1830,1832,1836],{"text":1831,"type":57},"There are so many fun and exciting ways to market your products these days, and most marketers want to try them all. 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You end up ",{"text":1855,"type":57,"marks":1856},"dedicating more time to managing the mess",[1857],{"type":125},{"text":1859,"type":57}," than you should ever need to.",{"type":50,"attrs":1861,"content":1863},{"textAlign":52,"key":1862},"p-124",[1864],{"text":1865,"type":57},"And this principle extends to every business unit. Your sales, engineering, and operations leaders aren't finance experts either. Yet they deal with significant budgets and make financial decisions on a regular basis.",{"type":50,"attrs":1867,"content":1869},{"textAlign":52,"key":1868},"p-125",[1870],{"text":1871,"type":57},"As we saw above, the best way to manage this is with a spend management platform. 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