Leadership Rock: Build your marketing budget

What are Marketing Rocks?

If you’re running on EOS^® (Entrepreneurial Operating System) you know how to use Rocks for your Quarterly meetings. We’re big fans of EOS^® and are frequently asked for ideas on what marketing Rocks would look like.

This Rock is ready for you to copy, paste, and adjust as needed.

We hope this saves you time and keeps you focused on your marketing foundations.

Marketing Leadership Rock: Build your marketing budget

Do you know how much you need to spend on marketing software subscriptions or when your big renewal expenses are going to hit?

Does leadership have to approve every credit card purchase, holding up productivity?

Can you calculate your total ROI from marketing efforts?

For this Rock, we’re talking beyond having your chart of accounts set up in QuickBooks. We’re talking about forecasting your marketing spend for the next year.

We see a lot of money wasted on unnecessary subscriptions and time wasted on staff waiting for multiple approvals for a $20 credit card purchase.

A budget keeps marketing efforts transparent and keeps the team accountable and empowered to make quick decisions.

Feel free to cut, paste, adjust, and use for your next Quarterly Rocks:

Rock: Build your marketing budget

V – Vision: How does your budget impact how fast you can reach your vision? Tying your budget to your vision progress keeps it realistic.

S – Specific: Agree on the scope for your marketing budget. How detailed does it need to be? We always recommend starting with larger account categories.

M – Measurable: When complete, you should see exactly how much you have spent year-to-date on all marketing activities compared to what you had budgeted.

A – Attainable: Before choosing this Rock, make sure you have access to your chart of accounts via your finance office or bookkeeping software.

R – Realistic: Start simple by including all expenses from the past 12 months. Don’t try to get too sophisticated in your forecasting. Capture what you have spent in the past and make sure it’s as inclusive as possible including items such as your website hosting and consider including salaries from staff and contractors.

T – Timely: This Rock may take the full 90 days as it involves multiple departments.