How to Design a Better Marketing Budget
As we wrap up 2018, many of our us are planning and preparing our marketing budgets for 2019. But, just what line items should you consider and plan for? The answer of course depends on your organization's goals and objectives and the strategies you'll use to achieve them.
Starting with a few key line-items or categories can help you jump-start the budget planning process. Following are a few ideas that may help. These categories can be applied to for-profit or nonprofits alike:
Copywriting - This line item can be used for costs associated with hiring an agency to develop content for your e-newsletter, promotional eblasts, social media, website, brochure, annual report, etc.
Graphic Design - Using an agency for graphic design services? Use this category to budget for the design of printed materials (brochures, rack cards, annual report, printed newsletter, etc.) OR the creation of graphics/images for your digital marketing tools such as an e-newsletter, website, social media etc.
Photography - Use this category when purchasing stock photos or hiring a photographer for special events or photos to create a custom library of your products or programs.
Website - This category might include costs related to annual domain renewal fees, annual or monthly hosting fees, or monthly fees paid to an agency or web company to provide regular web maintenance/updates.
Advertising - Track paid advertising in newspapers and magazines, digital ads (ads that appear as banner ads on specific websites), social media ads.
Printing - this line-item will include printing costs for general materials like your brochure, rack cards, coupons, annual report, etc.
Media Relations - Use this line item to budget for a public relations agency to raise awareness of your organization or products through media coverage, special events and community outreach.
Giveaways - Branded giveaway items for community and special events i.e. pens, stress balls, water bottles, etc.
Special Events - Costs associated with planning and managing the event including an event planner, , space rental, catering, invitations, etc.
Outreach - Costs related to outreach events could include giveaways, booth/exhibit materials, exhibit participation fees,
participation fees, etc.space rental, catering, invitations, etc.
Outreach - Costs related to outreach events could include giveaways, booth/exhibit materials, exhibit participation fees, etc.