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For anyone charged with allocating marketing dollars, it can seem like an arduous and even dicey process to decide how much to spend annually, and on what. For some, it’s the autopilot response of last year’s budget, plus three to five percent. For others with limited marketing dollars, it can mean the equivalent of putting all one’s eggs in a single basket. These are examples of the extremes, but not altogether unheard of in marketing.
Budgeting for marketing is far less complicated when you can approach it with greater intention and priorities in mind.
Andy Slipher is founder of Slipher Marketing, a consultancy where strategy comes first, followed by tangible marketing results. He is an accomplished strategist, interim CMO, speaker and writer on marketing strategy. He is marketing segment lecturer for SMU’s accredited Bank Operations Institute for professional bankers, and for the Independent Bankers Association of Texas (IBAT). Andy’s forthcoming book is The Big How: Where Strategy Meets Success.
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