Are CFOs from Mars, and CMOs from Venus? Part III - Developing Marketing Budget and Metrics
Let’s now shift to sizing the marketing budget and developing the metrics to gauge ROI. The first step is to determine as an executive team, CFO and CMO included, what the company should be spending on marketing relative to top line growth. Often, there is a reasonable sense, given industry and peer comparisons of competitive spending ratios. These can be adjusted based on events such as a major product announcement.
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