These are extraordinary times and global enterprises can ill afford marketing budget planning that does not provide real-time visibility and control, from anywhere in the world, at any time. It’s more than a competitive advantage, it’s required for survival. The current work situation makes digital processes essential and “mandatory” for operational marketing.
CMOs need the security of their teams’ remote access and visibility on global, local, and product levels to optimize allocation of resources in responding to wildly fluctuating market changes, budget availability, and demands for marketing responsiveness.
A single source of the truth, from the office, from home, from anywhere
In the face of calamity, BrandMaker Budget Planning & Management pours oil on the troubled waters, facilitating and encouraging remote collaboration and enabling proactive decisions by providing clear visibility into a single source of the budget truth. Marketing can manage budgeting for greater impact by knowing what has been spent, what is remaining, and what each campaign has produced. See planned, allocated, committed, actual, and remaining marketing budgets across multiple currencies, right now.
Decentralized teams are the norm for global marketing departments. Now, teams are atomized, multiplying the complexity of budgeting for performance. BrandMaker Budget Planning & Management is the single platform that binds every player together seamlessly, to function at a high level, and continuously improve.
- Marketing has the agility to allocate its budget for greater impact, scaling activities, driving efficiency and shifting plans per the whipsaw of marketing situations.
- Marketers can now see budget and content as two sides of the same coin, with the ability to connect the performance of creative work to financial planned activities and also the performance of them.
- More than ever before, marketing can represent its expenditures and opportunities to the finance and sales teams.
Here’s a real-life example:
This BrandMaker customer is a global manufacturer and distributor of the highest quality chemical, reagents and laboratory supplies. They go to market through a network of independent distributors. Each distributor receives marketing support at a high level of professionalism, to a predetermined budget.
To be fully effective, the company’s marketing team must track those individual budgets and provide real-time guidance based upon the balance. It’s important that whatever budget is available be deployed in support of the distributor’s, and the company’s goals.
Tracking these individual budgets becomes a global, local, and campaign-specific exercise made possible through BrandMaker.
Their marketing goals are to:
- Ensure that every marketing budget is fully utilized to support every distributor.
- Tracking the number of distributors supported and the number of jobs completed on their behalf.
- Decreasing the turnaround time for job completion.
- Increasing the number of custom or on-demand jobs.
- Increasing the effectiveness of the specific tactics deployed (e.g., email, email plus AdWords, etc.)
BrandMaker enables this company to overcome daunting issues in reaching these goals:
- Great complexity – marketing encompasses many countries, languages, and customs, and many marketing deployments.
- Tracking individual budgets by individual distributors in real time.
- A need to streamline workflows.
- A need to increase communication and cooperation worldwide, deploying best practices consistently.
BrandMaker can increase productivity up to 13% from better budget allocation.
Transcending marketing budget planning chaos
We have no idea when or if marketing conditions will stabilize. We do know that whatever the case, BrandMaker Budget Planning & Management provides an instantaneous view of the numbers, the clarity to make decisions and the operational infrastructure to ensure that market can always respond with effective and productive budget allocation and management.
The success of budget management rises and falls with visibility into real-time numbers. Where we are exactly, at this moment in time, is essential to maximizing effectiveness and is the basis for effective budget planning.
As one director of content and campaigns observed:
BrandMaker has enabled us to speak with one voice, have one source of truth, and do much, much more with the budget we have.