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A marketing budget is part of a strategic marketing plan. This simple yet effective document outlines the budget that you intend to spend on your products or services marketing expenditures. In this way, you can have full control over your expenses. Drafting a template for this document could be a time-consuming task, so we formulated a Marketing Budget Templates in Microsoft Excel. This template is professionally designed with easy-to-edit features, an ideal template for marketing professionals. What are you waiting for? subscribe to our subscription plans and download this template now!
According to Empire Creative, a marketing agency, a marketing budget is crucial to any business. You can have a weekly, monthly, or annual marketing budget, helping you to analyze and stay on track of your marketing expenses.
If you are planning on making this type of template, then perhaps you could use the following tips:
Microsoft Excel is one of the reliable software programs when making marketing budget templates. Open a new spreadsheet and conceptualize your idea before inserting spaces, cells, columns, and many others.
When drafting your template, make sure that all cells, boxes, and columns have enough space for you to write your marketing data. In this way, you can avoid wasting your time making adjustments. Insert formulas in the appropriate cells. It would be best to insert dummy numbers to check if your calculations are working correctly.
Now that you have perfected your formulas, you can now insert your company data. Don’t forget to include your company logo, name, address, control number, and other essential company information. Also, start encoding your marketing strategies and their allotted budget.
Including colors in your marketing budget is not just for it to look presentable, but also to help in terms of categorization. Hence, you may design your marketing budget template by coloring some cells, columns, or words.
Never implement your marketing budget without reviewing it first, or else, a simple mistake could lead to confusion among your team members. So make sure to check all the data in your marketing budget, including the formulas and designs.
A marketing budget plan is a detailed document that emphasizes the company’s target budget for each marketing strategy, including such a budget’s goals and objectives. In most cases, this document is commonly part of a bigger marketing plan.
Your marketing budget should include the marketing strategy and the amount that you are willing to pay for such a strategy. The marketing strategies may include digital, content, mass media, and printed marketing strategies. Also, you need to include your company information in this document such as company name, logo, and address.
“You have to spend money to make money.” This is a common phrase in the business world. Yes. Every company or business should have a marketing budget. Without a marketing budget, you may lose a huge opportunity and in the competition.
The budget in marketing varies in company size and industry. Commonly, a small business spends 2% to 10% of its sales for marketing aspects, according to Empire Creative.
The marketing professionals and business owners are mostly responsible for creating a marketing budget.