Marketing Budget Templates Based on the Strategy
Business uses marketing to boost sales. This department will create a promotion, advertisements, and events to attract more customers. Marketing uses the money to implement a strategy and prepare the material. Therefore, the business and company must have marketing budget templates.
Their templates are dedicated to the marketing department. For small entities or organizations, the template is relatively simple. They can use a free template that’s available from various sources.
Type of Marketing Budget
Marketing budget templates have several types. They have similarities and differences depending on what marketing style you implement. More about them are listed in below section.
- Simple budget
This budget is for general marketing. Everyone can have and use it with a minor change.
- Product marketing
A new product or brand must need proper marketing. You should develop the strategy and create a budget for such a purpose.
- Digital and internet marketing
Digital and internet marketing has been the top choice that’s capable to expand extensively. This template contains the list that the marketing department must do when entering digital media.
- The annual budget for marketing
Marketing uses annual budgeting method when preparing money. This is usually for the company since the process has to be in perpetual mode. The department does marketing in full one year.
- Event marketing
Besides product and business, the event also uses marketing. You may see a banner and invitation that includes attractive design. That’s the example of marketing for the event.
Factors Related to Marketing Budget
The marketing budget has some aspects that important to know. You must understand them before formulating the budget. More about them is explained in the following list.
- Marketing strategy
The marketing department spends money without directly earning. Therefore, the company must be careful when allocating money. The strategy is the key factor that determines how much budgeting marketing needs. The strategy includes media, tool, partner, sponsorship, and support.
- Past budget and expenses
Usually, the strategy is not much different from the last year. You can use the same template and add a few changes. However, you still spend more money since the strategy consumes extra resources. Marketing must calculate expenses and expenditure properly.
- Sales figure and unexpected cost
More sales mean marketing works significantly. The company obtains more revenue and profit. That’s why the marketing budget becomes higher than the previous year. More importantly, the budget must have unexpected costs for an emergency. This kind of money is dedicated to situation that the marketing department cannot predict.
Marketing budget templates use the above factors to create an outline. The strategy is a source of the item that marketing must spend. In that case, you should arrange items based on the priority list. The most valuable and profitable strategy is at the top list. After that, you have a new one that enters the testing phase before the real implementation.
Template for Marketing Budget
Preparing a budget for marketing takes effort and time. The marketing department will start with strategy and calculate the total money. For such work, the template is the most reliable tool to accommodate the budgeting process.
From the previous section, the template has many types based on some purposes. You can choose the one that’s the utmost compatible. Download and open on your computer. Change and edit marketing budget templates until the contents are suitable for your preference.