CubeCast: The Entrepreneur’s Playground

Making Every Dollar Count: Mastering Your Marketing Budget

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In this episode, we explore the essential skill of effective marketing budget allocation. Join us as we discuss practical strategies for prioritising your marketing efforts, leveraging insights from experienced mentors, and ensuring that every dollar spent contributes to your brand's online success.


In this episode, you’ll learn:

  • The Importance of a Marketing Budget: Understand why establishing a marketing budget is crucial for business success, especially for startups navigating a dynamic and competitive market.
  • Aligning with Business Goals: Learn how to create a budget that directly supports your specific business objectives, whether it's increasing brand awareness, generating leads, boosting sales, or improving customer loyalty.
  • Prioritising Channels: Discover methods for determining the most effective marketing channels for your business, considering your target audience, goals, historical performance, competitive landscape, and industry trends.
  • Understanding Cost-Per-Acquisition: Learn how to calculate and utilise cost-per-acquisition to optimise your spending across different marketing channels and ensure profitability.
  • Utilising Frameworks: Explore proven frameworks like the 70:20:10 rule, the ICE Score, and the MoSCoW Method for prioritising marketing activities based on potential impact and available resources.
  • Testing, Measuring, and Optimising: Understand the importance of continuous evaluation and adjustment, using data analysis and KPIs to refine your budget allocation and ensure maximum ROI.
  • Common Budgeting Mistakes: Identify pitfalls to avoid when planning your marketing budget, such as spreading your budget too thin, failing to measure ROI, and neglecting contingency planning.

    • Resources:

    • https://www.limecube.co/setting-priorities
    • https://www.sunmediamarketing.com/digital-marketing/digital-marketing-budget/
    • https://www.infotech.com/research/ss/match-your-budget-to-your-market-position
    • https://clickup.com/blog/marketing-budget/
    • https://www.smartinsights.com/marketing-planning/marketing-models/using-the-702010-rule-in-marketing/
      • ...more
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      CubeCast: The Entrepreneur’s PlaygroundBy Limecube