Another common, and fatal, mistake in the marketing plan process is underestimating the budget. Or, as I refer to it, the “B” word.
You can get every other part of the process right, but if you underestimate the budget, it is highly unlikely your marketing plan will produce results.
What typically happens is you’re forced to make tough decisions down the road and eliminate projects from your marketing plan.
I can’t count how many times I’ve met with a client and they have no idea how much they can allocate to marketing…or how much they’ve already spent.
Which makes it impossible for me to put together a realistic marketing plan – because it will look COMPLETELY different if you have $5,000 to spend or $25,000 to spend.
Here are 5 tips to help you avoid this rookie mistake:
Find out more about this rookie mistake in this episode of Marketing MOJO.