What is a Budget Board?
Budget board in Marketing Plus lets you plan and define a marketing budget for all your activities and track the expenses. It includes paid ads, printing brochures, flyers, software subscriptions, and so on.
The budget can be defined annually, monthly, or for every quarter, depending on your preference. Various dashboards are available to help you monitor the expenses, identify the type of marketing activities where you spent the most, and ensure that you stay within the allocated budget.
The importance of a marketing budget
Businesses can't spend on various marketing activities without a solid plan in place. To start with, you need to have a goal in mind. Ask yourself, what are you trying to achieve? It could be to increase sales, drive awareness and adoption, or reach a wider audience. To achieve that goal, it's important to come up with a plan and allocate a suitable marketing budget. This can be done by analyzing past performance, the amount spent on various marketing activities, the channels that proved effective, the ROI generated, and so on. These important metrics can help you identify and invest more on the channels where you have the better chance of reaching a wider audience.
Who can access the Budget Board?
- Users with the Brand Admin role in Marketing Plus will be able to enable, access, create, and edit a budget from the Budget Board.
- Users associated to custom role with access to Budget Board can view the Budget Board.
Enabling budget board in Marketing Plus
Budget board has to be enabled from Settings to start using it in Marketing Plus. If you have multiple brands, budget board has to be enabled individually by following the steps.
To enable budget board
- Go to Settings > Brands and select a brand.
- Click Enable budget management toggle switch in the Basic Information tab to enable budget board for the brand.
- Click Access budget board to navigate to Budget Board.
Alternatively, you can enable it from the budget board tab. To do so,
- Go to Brand Studio and click the Budget Board tab.
- Click Enable Now.