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GOOD-BYE SUMMER, HELLO BUDGETING SEASON: 4 TIPS TOWARDS FIGURING OUT YOUR MARKETING BUDGET

September, 2018

Summer has officially come to a close, and while kids have gone back to school and stores prepare themselves for the holidays, for us in the marketing and B2B world, it means another budgeting season is upon us. While some businesses start preparing their budgets for next year as early as June, most of us begin the process right around now. Seems like the end of Summer will always be something of a drag no matter how old we are.

Because we rather enjoy the changing of the leaves and the hint of coolness in the air that the beginning of Autumn brings, and we want you to partake in that excitement too, without the heaviness of having to figure out that budget bearing down on your shoulders, we’re offering some tips on how to prepare your marketing budget for 2019.

Though we work in a world that is always changing and reinventing itself in a variety of ways, there are a few keys factors that always remain when it comes to preparing a budget.

1. Set goals.

This one’s kind of a no-brainer, but we can’t leave this one out. Setting your goals is crucial, and will also act as a guideline for how to budget in the years to come. A very important thing to keep in mind is to be realistic. You might want to start by taking a look at the success you’ve had this year, and work from there.

Maybe you’ve been more effective in a particular area over others - that doesn’t necessarily mean you need to put more money into that area, maybe you feel like you’ve been neglecting your company’s brand, while advertising seems to be pulling its weight.

These goals will be an important tool in setting up your budget next year, when you compare how much of a budget you set aside for marketing to how many goals you were able to accomplish. That will serve as your guideline for setting up your next budget.

2. Determine your target audience and the best way to reach them.

By now you should have a pretty good idea of who your target audience is, and if you’re not sure, take a look at numbers and demographics. Focusing on your target demographic will act as a perfect guide throughout this tedious process.

Once you’ve narrowed down who your target audience is, figure out the best way to reach them, whether it be through TV, digital media, print. Some questions you should ask yourself: how difficult or easy is it to reach my target audience? Is it easy to track their numbers and feedback? There’s a good way to figure out where your money should go.

3. Once you’ve figured out your target audience and how to best reach them, define who your competition is.

Is your brand one of the lucky ones that have discovered an untapped market? Or is it a dog-eat-dog world for you? If competition is high, you may consider putting even more money into your marketing budget, because from where you stand now, you have no idea what tricks you might have to pull. One thing is for sure - you’re going to want to have enough money in your budget to afford having your brand be a worthy contender among your competition. Because otherwise, well, what’s the point?

4. With these things in mind, decide on how much of your revenue you will put aside for your Marketing budget.

Having determined your goals, target audience, methods, and competition, now you can figure out how best to allocate funds for your marketing budget. There are a few different ways you can do this. You could just set aside a percentage from your revenue. Most companies will set aside anywhere between 1-12% of their revenue for their marketing budget. How much that should be depends on the previously mentioned factors. You could take a look at your budget history and compare your accomplished goals to how much your marketing budget was for 2018. You could decide on whether you want to focus on your goals or on competition, and estimate the costs of every action you’ll want to take. You could take the random allocation route if marketing is minor to you. OR you could use several of these ways to figure it out. The important thing is to at least be aware of what you want to do in 2019 and who your audience and competition are.

In order to maximize your marketing budget, no matter how much capital you’ve designated towards it, we recommend going with streamlined, integrated agencies that operate on speed without compromising quality. Agencies like 121. Why? Simple: because we work quickly, and charge by the hour, you will inevitably end up saving money; with the added benefit of our faster turnover giving you a leg up on your competition. When you go with agencies like ours, deciphering your marketing budget should be easy and stress-free, because you’ll be able to depend on us doing the most we can to help you reach your goals and within your budget.

So go ahead and breathe in that fresh, crisp Autumn air. Maybe next year, you’ll actually be looking forward to budgeting season.

WWW.121CORP.COM PRIVACY POLICY

This privacy policy has been compiled to better serve those who are concerned with how their 'Personally identifiable information' (PII) is being used online. PII, as used in US privacy law and information security, is information that can be used on its own or with other information to identify, contact, or locate a single person, or to identify an individual in context. Please read our privacy policy carefully to get a clear understanding of how we collect, use, protect or otherwise handle your Personally Identifiable Information in accordance with our website.

What personal information do we collect from the people that visit our blog, website or app?

When ordering or registering on our site, as appropriate, you may be asked to enter your name, email address, phone number or other details to help you with your experience.

When do we collect information?

We collect information from you when you subscribe to a newsletter, fill out a form or enter information on our site.

How do we use your information?

We may use the information we collect from you when you register, make a purchase, sign up for our newsletter, respond to a survey or marketing communication, surf the website, or use certain other site features in the following ways:

• To send periodic emails regarding your order or other products and services.

Consent

We’ll ask for your consent before requesting any type of information, it’ll also be optional to do so. You can also easily withdraw it or change it at any time. However, failure to provide that consent will prevent us from delivering content and other experiences to you.

Where do we storage your data?

We store all your data exclusively on our servers for at least a year, and we are the only ones that have access to them.

How can you access to your data?

You can exercise, at any time, the rights of access, rectification, cancellation and opposition of your personal data via email, addressed to privacidad@121corp.com indicating your name, surnames, telephone number, attaching a photocopy of your ID or official document that proves your identity and clearly indicating the right you wish to exercise.

How to ask us to delete your data?

If you would like to unsubscribe from any of our communications you may do so by sending us an email to privacidad@121corp.com. Otherwise, by continuing to interact with our emails, you provide us with permission to manage and use your data as described above.

How do we protect visitor information?

We do not use vulnerability scanning and/or scanning to PCI standards.

We use regular Malware Scanning.

Your personal information is contained behind secured networks and is only accessible by a limited number of persons who have special access rights to such systems, and are required to keep the information confidential. In addition, all sensitive/credit information you supply is encrypted via Secure Socket Layer (SSL) technology.

We implement a variety of security measures when a user enters, submits, or accesses their information to maintain the safety of your personal information.

All transactions are processed through a gateway provider and are not stored or processed on our servers.

What happens if there’s a data breach?

We will inform all of our users within the first 72 hours.

Do we use 'cookies'?

We do not use cookies for tracking purposes

You can choose to have your computer warn you each time a cookie is being sent, or you can choose to turn off all cookies.
You do this through your browser (like Internet Explorer) settings. Each browser is a little different, so look at your browser's Help menu to learn the correct way to modify your cookies.
If you disable cookies off, some features will be disabled that make your site experience more efficient and some of our services will not function properly.
However, you can still place orders .
Third Party Disclosure

We do not sell, trade, or otherwise transfer to outside parties your personally identifiable information.

Third party links

We do not include or offer third party products or services on our website.

Google

Google's advertising requirements can be summed up by Google's Advertising Principles. They are put in place to provide a positive experience for users.
https://support.google.com/adwordspolicy/answer/1316548?hl=en

We use Google AdSense Advertising on our website.

Google, as a third party vendor, uses cookies to serve ads on our site. Google's use of the DART cookie enables it to serve ads to our users based on their visit to our site and other sites on the Internet. Users may opt out of the use of the DART cookie by visiting the Google ad and content network privacy policy.

We have implemented the following:
• Google Display Network Impression Reporting
• Demographics and Interests Reporting

We along with third-party vendors, such as Google use first-party cookies (such as the Google Analytics cookies) and third-party cookies (such as the DoubleClick cookie) or other third-party identifiers together to compile data regarding user interactions with ad impressions, and other ad service functions as they relate to our website.

Opting out: Users can set preferences for how Google advertises to you using the Google Ad Settings page. Alternatively, you can opt out by visiting the Network Advertising initiative opt out page or permanently using the Google Analytics Opt Out Browser add on.

California Online Privacy Protection Act

CalOPPA is the first state law in the nation to require commercial websites and online services to post a privacy policy. The law's reach stretches well beyond California to require a person or company in the United States (and conceivably the world) that operates websites collecting personally identifiable information from California consumers to post a conspicuous privacy policy on its website stating exactly the information being collected and those individuals with whom it is being shared, and to comply with this policy. - See more at:
http://consumercal.org/california-online-privacy-protection-act-caloppa/#sthash.0FdRbT51.dpuf

According to CalOPPA we agree to the following:

Users can visit our site anonymously
Once this privacy policy is created, we will add a link to it on our home page, or as a minimum on the first significant page after entering our website.
Our Privacy Policy link includes the word 'Privacy', and can be easily be found on the page specified above.

Users will be notified of any privacy policy changes: • On our Privacy Policy Page Users are able to change their personal information: • By emailing us

How does our site handle do not track signals?

We honor do not track signals and do not track, plant cookies, or use advertising when a Do Not Track (DNT) browser mechanism is in place.

Does our site allow third party behavioral tracking?
It's also important to note that we allow third party behavioral tracking

COPPA (Children Online Privacy Protection Act)

When it comes to the collection of personal information from children under 13, the Children's Online Privacy Protection Act (COPPA) puts parents in control. The Federal Trade Commission, the nation's consumer protection agency, enforces the COPPA Rule, which spells out what operators of websites and online services must do to protect children's privacy and safety online.

We do not specifically market to children under 13.

CAN SPAM Act

The CAN-SPAM Act is a law that sets the rules for commercial email, establishes requirements for commercial messages, gives recipients the right to have emails stopped from being sent to them, and spells out tough penalties for violations.

We collect your email address in order to:

To be in accordance with CANSPAM we agree to the following:

If at any time you would like to unsubscribe from receiving future emails, you can email us at
• Follow the instructions at the bottom of each email. and we will promptly remove you from ALL correspondence.

Contacting Us

If there are any questions regarding this privacy policy you may contact us using the information below.

www.121corp.com
7315 Winsconsin Avenue, Suite 400 W
Bethesda, MD 20814
USA
privacidad@121corp.com

Last Edited on May 25, 2018