Marketing budgets asking for an idea of expectations often attracts some interesting responses, but it’s really not a trap!
It is inevitable, though. At some point in pre-proposal discussions, you will be asked if you have a budget in mind. If this makes you nervous about answering, for fear of inflated rates, this video explains why consultants and agencies ask this question and why your answer is important. Clue: It’s not about how much to charge you – it is about managing expectations.
How Marketing Budgets Help
Consultants love to have a budget. Marketing budgets are necessary, particularly for consultants, because they help calibrate your available resource against your planned marketing activity to ensure we can realistically meet any agreed goals and targets. Simply speaking, if you want the moon on a stick, you need to have either a budget which allows us to undertake the activity required to get you there OR you need a long-term plan to set out the goals and spend in the interim.
For more info on why this is an issue, check out this short video from our founder Shells Milne which explains in more detail why we ask about marketing budgets and resource availability. For more videos, courses and free goods, check out my YouTube Channel. Don’t forget to subscribe and click on the little bell to get notified of new posts and material.
About Element 62 Founder, Shells Milne, MA, MSc.
Check out Shells YouTube Channel to be kept up-to-date with info, insights, training and freebies.
Hi, I’m Shells, a media and marketing strategist and entrepreneur with over 23 years in marketing and business. I help creative entrepreneurs and business leaders turn ideas into realities where they can thrive and grow. Since 2002, I have worked in-house, in-agency and as a consultant with a variety of house-hold names across the public and private sectors. Industry experience includes energy, finance, technology construction, food and drink, automotive and luxury products. When not working with brands, I also enjoy working with energetic start-ups, to build sustainable and exciting commercial futures.
My mama always told me that the meaning of life is to find your gift, the purpose of life is to give it away. So, here I am. Sharing everything I can 🙂
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