budgeting for 2021 webinar with kristin carpenter
Budget planning for 2021: Tips for creating a more flexible, multi-channel marketing budget
During the month of September, Kristin Carpenter is hosting a webinar series sharing insight from the Multi-Channel Marketing Academy and tips for up-leveling your marketing strategy for the holiday season and 2021.
The latest webinar in the series, Budget Planning for 2021, dives into what you need to be looking at as you recreate your budget for 2021 and tips for creating a more flexible, multi-channel marketing budget that allows you to adapt to fast-changing trends in consumer behavior and business.
Most of us are used to setting budgets in the third and fourth quarters of the year and moving on - business as usual. If COVID-19 taught us anything, it is that we can no longer set-and-forget - anything - our budgets, marketing strategies, business plans - anything. To ensure continued success in 2021, we need to be creating a plan that’s built to encounter and move with change - because we will continue to see a lot of change as we head into 2021. Tune into the full webinar to learn more.
The perfect budget? That was never really a thing, right? But for 2021, you can aim for a much-improved budgeting and planning process.
Eight things TO DO while budget planning for 2021:
DO create the full year budget and plan – we do need a framework to benchmark from, and we do need an annual goal.
DO create new KPI that support your goals for 2021.
DO create a dashboard that will capture these key metrics.
DO bite-sized campaigns that you can really jockey closely to ascertain where your consumer is, and the temperature of key stakeholder audiences (such as retailers) – pausing spending or adding dollars is easier with smaller, more nimble campaigns.
DO – as always, incorporate larger business goals into your strategic plan and budget.
DO create a dashboard to capture how your brand’s target consumer is engaging with your content and DO share that with your leadership team so that they’re all learning how to live and die by how your consumer is engaging with your brand.
DO build out different budget models, some call these “back up budgets” – the goal is to have a budget that reflects reduced spend on a few different levels. Build three levels – where you want to be, where you could be if we were half way back into the disarray we were in mid year, and then very low budget.
DO consider growth opportunities – if you’re in outdoor, bike, snow, pet, beer, wine or spirits, you have the opportunity to enroll new consumers in your brand.
This webinar is brought to you by the Multi-Channel Marketing Academy, an eight week online marketing course for specialty brands intent on up-leveling their marketing skills and strategies for 2021. Course enrollment takes place September 15-25, 2020. For more information about the course, visit the Multi-Channel Marketing Academy.