Brands need to be Realistic yet Creative with their Marketing Budgets

Deloitte’s February CMO Survey states the budgets accounted for 8.6% of 265 top marketers from the revenues of their company. The percentage of the budget may vary for different companies and industries but these budgets are included in every company’s budget that includes the advertising and operational costs like software and staff salaries.

Higher growth companies are spending close to average on the marketing and advertising while smaller or lower growth companies are underspending on the same. Thus one can easily say the advertising, marketing and internal resources budget comes down to what a business or brand can afford.

According to the Digital Marketing Idaho Falls company, the spendings on these should depend on the current state of the business. It is necessary for the brand to determine a goal before they assign an advertising budget so they get a clear picture of how the campaign will move forward and at what scale. Also it will help them plan their investments.

The expectations out of the marketing and advertising campaign should be set as per the reality of the budget. Massive growth or not all depends on the budget. If one is not spending enough, don’t expect massive returns. Being realistic about the budget and its effects always pays in the long run.

Expert marketers will only advise the brands to get creative and experiment so that sometimes one can end up catching lightning in a bottle. There are exceptions to all the rules so all the brands need to get creative and think out of the box with the budget at hand.

The brand should definitely scale up their marketing budget once they start seeing results. Marketing is an investment in the growth of the business so scaling up the spending will pay off in near future.