Playing It Safe with Marketing Budgets Carries Its Own Risks
Having worked on both the agency and corporate sides of the desk, I can attest that most companies are more comfortable sticking to last year’s budget allocations than changing them. There are a variety reasons for this.
One reason is that the budget for the previous year was approved, so it’s logical to think maintaining this course will help them in the next year. The problem with continuing a budget year-after-year is it makes it difficult to establish and track specific results, and it usually does not bring growth gains that nearly all budgets state as a primary goal.
Tom Marin is the Founder and President of MarketCues, Inc., a national consulting firm. He has worked for some of the world’s largest corporations and middle-market firms. Tom’s focus is to help CEOs drive their strategy shifts and strategic growth programs. Follow MarketCues on Twitter. Tom also welcomes emails new LinkedIn connections or calls to (919) 908-6145.