Reports & Whitepapers
How to Optimize the Distribution of Your Marketing Budget [Includes downloadable template]
As Covid-19 has put the fashion, luxury, and beauty markets into a tailspin, teams have had to strongly reconsider how to redistribute their marketing budgets in order to invest in activities that keep the communication line between consumer and brand, open. CMOS and directors of marketing and communications are faced with the task of asking themselves: How can I continue to sell, whilst remaining sensitive to customer needs, demands, and perceptions? Right now, budgeting is crucial, as Covid has essentially knocked out the physical storefront for most brands, causing potential losses – every pound of the budget counts. In this marketing budget template, we will provide you with the tools to streamline and simplify your budget planning process in a strategic way.
This budget tracking template is adapted to facilitate cross-channel marketing strategies and will help you:
- Properly reallocate budgets for a period post-Covid-19.
- Compare investments with actual results, especially when experimenting with new marketing activations adapted to reach consumers whilst in isolation.
- Combine budget and performance reports so that they are grouped based on the same criteria as your measurement system.
- Allow you to consolidate your budgeting across departments, whether you monitor your budget on an internal platform, Excel spreadsheet, or Google Sheet.
Here is an example of the template that you can download for free, that will help you track the expenditure and gain a cross-Voice view of your investments.