How to Manage Marketing Budget Planner [Free Templates]

Marketing Budget Planner breakdown

Typically, businesses allocate 7% to 10% of their total revenue towards marketing. However, a recent Gartner survey of CMOs revealed that the proportion of marketing budgets relative to company revenue has decreased to 6.4% in 2021, compared to the previous year's figure of 11%.

Marketing Budget Planner breakdown

A useful budget allocation guideline is the 70-20-10 rule. This suggests allocating 70% of your budget towards proven strategies, 20% towards new strategies for growth, and 10% towards experimental strategies.

Marketing Cost Example

To illustrate, suppose your company has a marketing budget of $10,000. You may allocate the budget as follows:

• $7,000 for established and successful strategies such as CRM or other software, paid search campaigns, and social media marketing.
• $2,000 for testing new products, features, or services.
• $1,000 for experimenting with sponsored content.

>>>>> Read more: 10 Best Marketing Software Platforms for Today’s Businesses.

Marketing budget planner by Channel

A marketing budget planner by channel is a tool that helps businesses allocate their marketing budget to different marketing channels such as social media, email marketing, paid search, content marketing, and events. The planner allows businesses to set a budget for each channel and track the expenses associated with each channel. 

Marketing budget planner by Channel

This helps businesses determine the most effective channels for their marketing efforts and make informed decisions about where to invest their marketing dollars. The planner may also include templates or guidelines for creating budgets and tracking expenses.

Marketing events

A marketing budget for events will depend on various factors such as the size and scope of the event, the target audience, the location, and the marketing strategies used. Here is an example breakdown of a marketing budget for a small-scale event:

• Event promotion and advertising (e.g., online ads, flyers, billboards, posters) - 30%
• Social media marketing (e.g., paid social ads, influencer partnerships) - 25%
• Email marketing (e.g., creating email campaigns, software fees) - 20%
• Event website creation and management (e.g., website design, hosting fees) - 10%
• PR and media relations (e.g., press releases, media interviews) - 10%
• Miscellaneous expenses (e.g., photography, videography) - 5%

Marketing budget planner in events

It's important to note that the above breakdown is just an example and can vary based on the event and marketing goals. It's always a good idea to create a detailed marketing budget plan that considers all necessary expenses and allows for flexibility in case of unexpected costs.

Paid Search Advertising

Paid search advertising, also known as pay-per-click (PPC) advertising, typically requires a significant portion of a company's marketing budget. The exact amount of the budget will depend on several factors, such as the competitiveness of the industry, the target audience, and the specific goals of the campaign. 

Paid Search Advertising

However, a general guideline is to allocate at least 10-20% of the overall marketing budget towards paid search advertising. For example, if a company's marketing budget is $100,000, they may allocate $10,000-$20,000 towards paid search advertising.

Social Media

A social media marketing budget breakdown can vary depending on the specific goals and strategies of the business. However, some common areas where the budget may be allocated include:

A social media marketing budget breakdown can vary depending on the specific goals.

• Content creation: This includes creating and publishing posts, videos, and other types of content for social media platforms. These contents have to align with your strategy and marketing planning.
• Paid advertising: Social media platforms offer paid advertising options, such as promoted posts, sponsored content, and targeted ads. The budget for paid advertising can vary depending on different aspects of the marketing campaign planning such as the audience size, competition, and the desired reach and frequency of the ads.
• Influencer marketing: This involves collaborating with influencers or micro-influencers to promote products or services on social media. The budget for influencer marketing can vary depending on the size and reach of the influencer and the type of content produced.
• Social media management tools: There are many tools available to help businesses manage their social media accounts, track analytics, and schedule posts. The budget for social media management tools can vary depending on the specific needs of the business.
• Contests and giveaways: Running contests and giveaways on social media can be a great way to increase engagement and build brand awareness. The budget for contests and giveaways can vary depending on the prizes offered and the promotion strategies used.

>>>>> Related article: Digital Marketing Planning Template for Effective Planning

Search Engine Optimization

Optimizing your webpages for search engines like Google through SEO can enhance your marketing efforts by increasing your visibility to potential customers. 

Search Engine Optimization

If you are planning to handle your SEO needs in-house, you'll need to budget for the necessary resources, such as hiring an SEO specialist or investing in SEO tools. On the other hand, if you plan to outsource your SEO needs to an agency, be prepared to pay a monthly retainer that could range from a few hundred to several thousand dollars, depending on the scope of the work. Ultimately, the amount you budget for SEO will depend on your business needs and goals.

Marketing Budget Planner Templates

Having separate budget templates for different marketing departments and activities is useful, but having an overall view of the budget is important as well. The Master Marketing Budget Template enables you to do just that by consolidating the totals from the other templates in the bundle and presenting all your expenses in a single place.

Hubspot Marketing Budget Template

• Budget Overview from All Departments: The initial table of the Master Marketing Budget Template presents a comprehensive overview of both the budget and actual spending across various marketing departments such as product marketing, content marketing, paid advertising, PR, branding and creative, and events.
• Month-Over-Month Expense Summary: To get a broader overview of all your expenses, refer to this table which presents the combined budget and actual spending for all marketing activities.
• Marketing Budget vs. Actual Spend Chart: This chart enables you to identify patterns in spending and budget allocation, identifying areas where you exceeded or fell short of your allocated budget.

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Simple Marketing Budget

This uncomplicated marketing budget template displays estimated and yearly expenses for various categories in parallel. You can allocate costs for each week of the month and monitor total expenditures by month, quarter, and year. 

Simple Marketing Budget

This enables you to easily compare projected costs with your actual spending, and the template automatically calculates the variance. You can pick the categories that fit your business and marketing strategy, and input your financial details accordingly.

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Social Media Marketing Budget Planner

This budget template allows you to monitor all of your social media marketing expenses, including staffing and agency fees, content creation, and promotions. After inputting your expenses, you can forecast your monthly spending and track your remaining budget. 

You can also compare your year-to-date spending to your overall budget and determine what proportion of your marketing budget is allocated to each social media marketing initiative.

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In conclusion, managing your marketing budget planner is a critical aspect of your overall marketing plan. By utilizing the various marketing budget planner templates available, you can organize your expenses and allocate your resources effectively.

>>>>> Read more

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