Annual Budgeting
How much is _______? We build your annual marketing budget so your dollars aren't wasted in the wrong areas.
Dollars that make sense
How much is _______? This is close to the number one question we get asked at our marketing agency. Budgeting is a science for sure since it’s mostly math, after all. Beyond numbers, the art of budgeting requires finesse. Using our experience managing 100s of projects, we’ll accurately quote your project. Or, better still, we’ll create your annual marketing budget so your dollars aren’t being wasted in the wrong areas.
This service is usually bundled with other items into a marketing plan for your organization: a 4 to 6 week project called a Marketing Roadmap.
How this service is structured
Part of the Map stage: a 4 to 6 week strategy project at the start of working together, so everything after it follows a plan.
See the Map stageYou're in good company
Reverse-engineered budgets
We’ve discovered the best way to create a marketing budget is to define the finish line and work backwards from there. The “finish line” is your top-level goal, usually your annual revenue target. Then work backwards and create smaller milestone goals, tied to specific KPIs (key performance indicators). Now that the finish line is well-defined, we can figure out what needs to be done, and how much it will cost.
- All budgets are referenced and compared to national benchmarks for everyone’s sanity.
- Budgets can be stress-tested before a nickel is spent. Are the growth goals & budgets realistic?
- Is the budget tied to performance? It should be. Only then can you scale with confidence.
Numbers are beautiful
Who loves a well-organized spreadsheet? I know there’s a few of us out there! We’re big fans of getting way ahead in the area of financial planning. Three-year goals are important to discuss, but your 12-month budget is divided into precise allocations for chosen media channels and tied back to revenue goals for complete accountability.
- Revenue targets are held in focus. What is going to have the best impact on the bottom line? Does the advertising mix make sense?
- Every dollar is held accountable. A budget isn’t “set it and forget it”. The best budgets are agile and nimble, adapting to the current conditions. Our team tracks every dollar, then makes recommendations about what should be adjusted. Continuous improvement is our core mantra.
- We love data-driven decisions. If you’ve been operating blind up until now, we’ll help you get clarity.
What to include in your budget?
- Long-term assets like website, videos, photos, sales & marketing materials. (If you need a lot of assets created, you should anticipate a higher budget this year than other years. Assets are long-term investments and don’t need to be done every year.)
- Digital advertising spend such as search engine optimization, search ads, content creation, social media, email marketing, PR, etc., accounts for a significant portion of modern marketing budgets.
- Traditional advertising spend like print ads, radio, TV, signage, out-of-home placements and direct mail makes up a smaller amount these days.
- Labour, both internal employees, contractors or a marketing agency like us. Did you know you can hire a whole team like us for the cost of 1 or 2 employees?
- Materials such as brand swag/clothing, corporate gifts, brochures, trade show materials.
- Entertainment-related costs like event sponsorships, new client lunches, event fees and travel.
- Technology costs like CRM software, automation tools, website hosting & maintenance, subscriptions, etc.
- Research & reporting are vital. Knowing your customer, your competition, and your industry trends helps you stay competitive. And good reports give you the information needed to make timely business decisions.
- And, and… well, every company is different and so is their budget. Need help figuring it out? We’ve worked with 100s of companies in all kinds of industries. Budgeting is an important part of how we help companies grow. Ready to discuss?
The team has been exceptional at listening to our needs and making valuable and current suggestions based on their expertise to direct us in getting the most value and action from our marketing budget. Very simply, we love working with them!
The 3 Paddle System
Map your journey. Make what’s missing. Move the needle.
Highlighted: what we recommend for Annual Budgeting
Map
Map your journey.
Where are you now?
- Baseline Website Performance
- Competitive SWOT Analysis
- SEO/AI Search Audit
- Website Audit
- Polls & Surveys
Where do you want to be?
- Goal Setting: Vision
- Goal Setting: Financial
- Annual Budgeting
- Measurement Strategy
- Brand Positioning
- Customer Personas
How do we get there?
Make
Make what’s missing.
Move
Move the needle.
Growth happens when you put more paddles in the water. At Twin Creek, it’s not just our 3 Paddle System that gets results, but the fact that our whole team is in the boat and ready to add momentum to your business. The combination is so powerful, gaining back time for owners and directors, while adding serious new revenue.
Frequently asked questions
How do you decide how much to budget?
We define the finish line first, usually your annual revenue target, then work backwards to milestone goals tied to KPIs. From there we can figure out what needs to be done and how much it will cost.
Can a budget change once the year starts?
Yes. A budget isn't set it and forget it. The best budgets are agile and nimble, so our team tracks every dollar and recommends what should be adjusted.
What belongs in a marketing budget?
Long-term assets, digital and traditional advertising, labour, materials, entertainment, technology, and research and reporting. Every company is different, so we tailor the list to yours.
Is budgeting a standalone service?
It's usually bundled with other items into a marketing plan for your organization, a 4 to 6 week project called a Marketing Roadmap. We can also accurately quote an individual project.