It’s annual planning time. The time of year when brand marketers put on their armor and prepare for battle, presenting past results to leadership and negotiating budget for the next year.
2023 was supposed to be a year of great profits, but with the war in Ukraine continuing, a recession, and in some instances, continued supply chain issues, these have brought on unforeseen challenges for many organizations. With outside pressures building on the business many executive teams turn to marketing as the first department to cut costs.
How can brand marketers advocate for their budget and communicate the effectiveness of marketing strategy amidst these headwinds? The answer: Keen.
Position Marketing as an Investment Center
Too many finance and executive teams see marketing as a cost center because they struggle to attribute marketing activity to revenue. Keen measures the Net Present Value of marketing. This allows executives and finance to put a monetary value on long term brand initiatives.
Uncover Optimal Channel Investment Levels
Marketers are empowered to budget accurately by knowing the point of diminishing returns for each channel. Understanding when marketing dollars lose value in specific channels increases efficiency.
These media investment metrics inform the budget and strategy of next year. By communicating the value of each channel, marketers are directly attributing revenue to marketing activity.
Have a Plan to Cut Budget
Should your marketing team see budgets cut during 2022’s annual planning – yet still be held to the same goals and targets, there’s hope.
Keen’s decision optimization engine reveals how to spend what remaining budget you have while hitting your same goals. Keen’s predictive analytics, scenario modeling and decision forecasting allows marketers to:
- War – game scenarios, to find the best plan before any money is spent
- Uncover the best time to invest by channel to maximize impact
- Connect marketing efforts to revenue
Want to see a 25% improvement in marketing performance even with a smaller budget? We want that for you. Let us prove it. Start your model today!