How Much Should Marketing Cost? – The Dangerous Guessing Game

Today we’re going to talk about the most boring of all boring subjects – money! Specifically how to tie the marketing budget to the outcome – what we call “Marketing Return on Investment or MROI”. It’s the difference between marketing being a cost center or a profit center. We’ll be talking about different budgeting approaches and some key considerations to find that balance on The B2B Marketing Mindset.” Let’s start with the premise – there are a lot of ways to set a marketing budget – most of them are fancy guessing. We’ll talk about the five ways companies tend to budget for marketing • Competitive Budgeting • Same as Before • Percentage of Sales • What can be afforded at the moment • Zero based budgeting • Break Even Budgeting Every week, The B2B Marketing Mindset podcast demystifies marketing, shares best practices and helps you avoid wasting money.