Marketing Meetup Podcast
how to create clear marketing budgets
Dec 21, 2023
Financial expert Mark Smith and accounting specialist Martin Coyle share insights on how to build clear marketing budgets. They discuss effective budgeting, the importance of marketing budgets for small businesses, building communities, research tools and approaches, and building a relationship with the CFO.
55:31
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Quick takeaways
- Building a budgeting framework and conducting honest reviews of past strategies are essential for effective marketing budgets.
- Measuring and improving mental availability through metrics like mental market share, mental penetration, and network size is crucial for brand growth.
Deep dives
Building and maximizing budgets with your team and finance department
Mark Smith and Martin Coyle from The Smiling CFO share their expertise on building and maximizing budgets. They emphasize the importance of a budgeting framework and the need for honest reviews of past strategies. They also discuss the significance of mental and physical availability in marketing strategies and how it impacts budget allocation. The speakers highlight the importance of measuring and understanding metrics related to mental market share, mental penetration, and network size. They stress the need for evidence-based decision-making to convince stakeholders, including finance teams.
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