Archive for March, 2015|Monthly archive page

Time to Plan the Marketing Budget

The company I work for has a fiscal year that starts in July. So we are entering into our planning and budgeting time for our fiscal year 2016 which is always fun. Full of hope and dreams!

Being in the Defense industry, we have been operating under very tight budgets that haven’t increased in a few years. And this despite three acquisitions over the same time period. But slow down in the DoD budget and the threat of sequestration had impacted our business for a time. Now however, we are back on track and doing very well – double digit growth in bookings and revenue with rosy projections for our future.

And we in marketing are excited. We have lots of plans to help drive that growth and are looking to increase our budget. Signs are hopeful. A recent survey found the rebounding economy helping B2B marketing budgets grow by an average of 6% (although I’m pushing for more than that here).

And over the years, I’ve worked hard with the executive team to make sure they see marketing not as a cost but as an investment. One that delivers returns. And I try throughout the year to point out those returns to reinforce that message.

So I’m optimistic as I head down this path yet again. It will be a couple of months before I’ll find out our final budget. Here’s hoping as I have big plans for those investments!

BTW, having a fiscal calendar that is out of whack with the calendar year is really annoying. Everything needs notation such as FY15Q3 (our current quarter in March of 2015). But even worse, try placing year-long media buys. Every vendor that I’ve ever dealt with operates on a calendar year. So I get to look at 6 months of an editorial calendar (next year’s won’t be out until November or so) and pick from a media kit that’s now getting old. Plus, others may have taken prime spots in both the print and digital arenas. But that’s a different problem.

Now off to Excel hell to get those numbers aligned.