Welcome to episode 64 of the Marketing Freaks podcast – this one is all about the money! We are of course talking about budgets, how to best approach planning your spend and how to be disciplined with how you distribute your investment in paid media.
A big thank you to Sophie who joined the episode for the conversation and for all her input on the topic!
A large part of our conversation was around the importance of being clear and intentional with how you plan your spend. We also discuss the danger of having ‘unlimited’ budgets; even when triggered by performance metrics you still need to have a firm view on what you are planning to spend.
Beyond talking about budgets and planning your spend, we discuss the importance of continuing testing, and making sure that you have a portion of your budget allocated to new activity. One of the biggest risks for anyone running paid media is remaining static with your approach, so having a specific amount of budget set aside to test new tactics will ensure you are always moving forwards.
Really hope you enjoy this episode and please do let us know by leaving us a review!
What this episode covers:
- The importance of being intentional with your spend
- How to plan your budget allocation
- Setting aside testing budgets
- Sophie’s tip of the week!