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Welcome back to our marketing planning series! This time, we’re diving into step three: balancing budgets and timelines!
Budgets and timelines are key to crafting an effective plan. The goal is to balance customer acquisition costs with profits and a realistic timeline. Here’s how to decide where to invest:
What’s your revenue model? Do you rely on repeat customers or one-time purchases? You can spend more on acquiring customers if they’re likely to return.
Have you set clear sales timelines? Defined timelines ensure your sales goals align with your marketing budget. Choose channels that suit your target audience, budget, and timeframe.
What are the best channels for your needs? Content marketing, SEO, social media, email, digital ads, PR, or direct mail all have different costs, timelines, and strengths. Balance these factors for the best results.
Once you’ve chosen your channels, create a step-by-step plan. Estimate time and costs, track progress, and adjust as needed.
For more details, including diagrams, templates and a breakdown of marketing channels by cost and timeline, check out our downloadable guide: How to Create a Marketing Plan.
Next week we move on to Marketing Measurements!
Resources
Download your How to Create a Marketing Plan guide
View previous weeks
How to Create a Winning Marketing Plan: Step 1 – Setting Goals
How to Create a Winning Marketing Plan: Step 2 – Market positioning
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