Every year since 2012, Gartner's annual CMO Spend Survey has tracked marketing budget as a proportion of company revenue. Over recent years the story has been one of budget stability, with the average marketing budget hovering around the 11% mark. At the start of 2020 this budget stability was intact, with budgets across the nine major industries Gartner tracks in North America and Western Europe reporting average marketing budgets of 11% of total company revenue.
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When we collected the data for this year's survey in April and May, it was apparent that significant pressure was being applied to budgets. Forty-four percent of respondents stated that their budgets would be cut, with 11% facing substantial cuts of more than 15%.
This may worth something:
Montgomery OKs $750,000 for recycling center, approves budget
The Montgomery City Council unanimously approved a more than $242 million budget Tuesday after several late amendments, including a $750,000 allocation to buoy the city's struggling recycling center.
Montgomery Mayor Steven Reed proposed a fiscal year 2021 budget last month that was 6.7% lower than the current budget but avoided layoffs, furloughs, higher health insurance rates or holiday pay cuts to city workers. The city leaned on previous cuts and a higher-than-expected sales tax collections to avoid deeper cutbacks despite the pandemic.
Bill tasking agencies with publishing budget requests passes House | Federal News Network
Eric White is news anchor and Federal Drive producer at Federal News Network. Follow @FEDERALNEWSCAST
Strasburg Township supervisors begin preliminary 2021 budget discussions | Regional |
What happened : Supervisors began a preliminary review of the 2021 budget, though they took no action. The process is just beginning, and the township is waiting for data from tax collection agencies to determine how much income was generated, Chair Tom Willig said.
Funding question: Like every municipality, Strasburg Township has felt the economic impact from the coronavirus pandemic. Willig said the township may have to supplement the budget with savings funds, but he doesn't anticipate a tax increase on residents because the township has a $1 million surplus fund. Final budget approval will come at the December meeting.
And here's another article:
How to Build a Marketing Budget: 3 Steps to Help You Plan for 2021
Budgeting can be a challenging process in a normal year. Many organizations estimate their marketing budget based on the previous year’s budget and mark it up by a percentage. 2020 has brought nonstop changes, which may make the budgeting process more complex than ever before. The business environment has changed, as a PSP or supplier, your direction may have changed and how you approach the market and the tools you use has definitely changed.
Your budget has a limit. You will likely need to consider and estimate costs for internal resources for their time and external resources with fees for service. Use it wisely.
An Agile Approach to Budgeting for Uncertain Times
The uncertainties due to the pandemic are making the annual budgeting and planning process especially challenging. Instead of the conventional predict, command, and control approach, companies should focus on learning, adapting, and growing — not on trying to predict the unpredictable. They should shift the focus from financial precision to strategic success.
It's August, and you know what that means. Leadership teams are launching annual business planning and budgeting processes, all too aware that the current year's plans went kaput sometime around March thanks to the pandemic.
Budget Board approves CARES Act fund distribution | Local News | stwnewspress.com
The Payne County Budget Board approved the distribution of $20,138 of Coronavirus Aid, Relief, and Economic Security Act funds to individual county offices and departments at Monday's regular monthly meeting.
The funds were received by Payne County in the second round of monthly reimbursements approved by Congress and signed into law by President Donald Trump on March 27.
Oklahoma received $1.2 billion that is being distributed to cities and towns through a CARES FORWARD team utilizing a computer portal for local governments to submit applications for reimbursement of COVID-19 related expenses.
Allroll Launches Marketing Platform for Roku, Drives 60% More Installs with Same Budgets |
Allroll , an innovative ad tech company for channel owners on Roku, has announced the launch of its platform, setting a new movement of performance-based advertising on Roku. The core purpose of the platform is to enable content providers of the platform to rapidly and cost-efficiently grow their audience. It offers 60% more installs for the budget directly spent on a native channel install source.
Allroll identifies the platform's mission as providing unmatched opportunities for channel owners on Roku in stores. The platform offers granular targeting options, namely by geo, app category, interest, frequency capping, budget, event capping, etc. Moreover, there is an opportunity to optimise ad campaigns by experimenting with CPM, CPI, and CPC price models that are lower in rates.
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