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Beating the Marketing Budget Blues: Building a Process that Works

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Let's face it. Grappling with the administration of marketing budgets can be a tactical nightmare. Balancing regional budgets, finding funds you can confidently reallocate and responding to changing …

Let's face it. Grappling with the administration of marketing budgets can be a tactical nightmare. Balancing regional budgets, finding funds you can confidently reallocate and responding to changing business priorities require a lot of coordination. In this webinar, you will learn how to better manage your budget and ultimately meet your marketing goals by implementing a streamlined process that balances global needs with flexibility at a regional level.

Listen in as Kristen Petersen and Alex Richey of F5 Networks discuss best practices and examples that will help you:

-Stay on budget across teams and regions
-Identify and reallocate unused funds
-Build a case with finance for increased investment

Published in: Technology, Business
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  • You probably use F5 right now. F5 Networks makes the connected world run better. We support Mobile Networks, Online Banking, Social Media & and many of the highest traffic Global Websites. F5 Technology ensures availability, optimization and security on your network, with your applications and with your online experiences.
  • Prior to our launch of Allocadia we managed 7 different Top Down Budgets via spreadsheet. These budgets were then built Bottoms ups by 27 different budget owners.
  • Different versions of the spreadsheetGathering updates challengingReconciling spreadsheets is time consuming
  • -screenshot of spreadsheet budget
  • Mapping POs to budget line itemsWasted cycles trying to reconcile financials through emailPO process different from theatre to theatre
  • -Enable everyone to iterate on plans and forecasts while maintaining an clean separation of user roles.
  • -hierarchy of 3 layers (solution area/solution initiative/line item in that initiative)-now have backed off structure the way they originally had it-for example, marketing manager might manage 5 countries and wants to organize her budget by country-field marketing might want to organize by type of activity (webinars vs. trade shows)-would not have worked - would not have been able to roll up to business unit level-in the end, roll up is what really matters
  • Now we can report on execution costs vs content creation costsHow much does it cost to get to a point where we can market that message?Then going forward, we use that as benchmark - how much does it cost to go to market with a new message?
  • Dashboarding and reports allow for continuous monitoring of KPIs like Marketing Inquiry Plan vs Actual, Plan vs Forecast vs Actual Spend, Spend by Category or Line of Business
  • Some of biggest events are in Q4, eating up a lot of budgetCustomer summit & vmworld (use event company, cut big PO)Theatre directors have little budget left during this quarterNeed to understand - can budget be redirected to other theatres?
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