Potential consequence is not having

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While budgets will need to be approved by accounting, finance, or upper management teams, it’s the job of the marketing leadership to provide a budget outline and an explanation as to why certain activities require the requested amounts of money. A common rule of thumb that most brands use is to spend around 7-10% of the overall revenue on marketing activities. Of that amount, around half of it should go toward digital marketing initiatives. With that in mind, it’s important to note that every company and industry is different.


Some organizations will require much more to go towards digital or will spend a higher percentage of the overall revenue on marketing activities. Adjust your budget to account for your marketing goals and the priorities that you determine matter the most. You’ll need France Phone Number Data to know what’s standard in your business and what expectations are set for you before you begin. Consequences of an Incorrect Budget It’s important to do the best you can to get as close as possible to the money you will need during your budget planning. If you miscalculate, there are several consequences that you might face. The first risk is your personal reputation as a leader.




Your teams and your bosses won’t have as much trust in you if you fail to allocate the right resources properly to the different campaigns and initiatives you want to have. You’ll also potentially put your department up on the chopping block when it comes to budget slashes if upper management thinks that you don’t know your numbers.  the budget you need to achieve important digital marketing goals. For example, if you have a goal of getting a certain amount of new leads through advertising but don’t have the budget set to run ads long enough to get leads, you’ll end up either overspending or losing out on important digital marketing opportunities. Increase your Ad Performance Best Practices.