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5 Marketing Budget Mistakes to Avoid

One of the most shared infographics we did was speaking to SaaS Marketing Budgets and exactly what percent of total revenue some companies were spending to maintain and acquire market share. Setting your marketing budget to an overall percentage of revenue, it provides your marketing team to incrementally increase demand as your sales team requires it. Flat budgets produce flat results… unless you find savings somewhere in the mix.

This infographic from MDG Advertising, 5 Big Marketing Budget Mistakes to Avoid, illustrates five areas where errors in judgment lead to inefficient spending as well as how to prioritize your time, energy, and budget when implementing marketing strategies.

5 Big Marketing Budget Mistakes to Avoid [Infographic]

The Marketing Budget Mistakes:

  1. Beginning with Bad Data  – Companies believe that 32% of their data is inaccurate, on average. This unreliable data, which ranges from imprecise analytics dashboards to major gaps in customer databases, connect directly to bad budget choices.
  2. Failing to Coordinate with Sales – 50% of salespeople are not satisfied with their firm’s marketing efforts. Every marketing budget should be developed in conjunction with other departments, especially sales. Moreover, each spend should be directly connected to an expected business outcome.
  3. Underinvesting in Proven Workhorses – 52% of marketers say email is one of the most effective channels they use but marketers often push budget to other strategies despite email’s effectiveness. It’s important to continue to increase investment in what’s already working.
  4. Underestimating the Speed of Change – In 2017, digital is projected to account for 38% of total U.S. ad spend, and a number of fresh technologies are emerging that can sustain the rapid rise that digital has provided in the coming years.
  5. Evaluating Too Little, Too Infrequently – 70% of companies don’t test marketing campaigns with consumers regularly. Marketers need to rapidly test and iterate between marketing mediums, channels, and strategies using an agile marketing strategy.
Marketing Budget Mistakes

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Douglas Karr

Douglas Karr is a fractional Chief Marketing Officer specializing in SaaS and AI companies, where he helps scale marketing operations, drive demand generation, and implement AI-powered strategies. He is the founder and publisher of Martech Zone, a leading publication in marketing technology, and a trusted advisor to startups and enterprises alike. With a track record spanning more than $5 billion in MarTech acquisitions and investments, Douglas has led go-to-market strategy, brand positioning, and digital transformation initiatives for companies ranging from early-stage startups to global tech leaders like Dell, GoDaddy, Salesforce, Oracle, and Adobe. A published author of Corporate Blogging for Dummies and contributor to The Better Business Book, Douglas is also a recognized speaker, curriculum developer, and Forbes contributor. A U.S. Navy veteran, he combines strategic leadership with hands-on execution to help organizations achieve measurable growth.

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