Many businesses don't know where to start when it comes to tracking their marketing budget and expenses. All your marketing should be accountable to your business financials. Here's how to pull your marketing budget and marketing key performance indicators out of your business financial information.

Do you know how much your business spends on marketing each year? Do you know what the return on investment is for your marketing campaigns? If not, don't worry - most businesses don't have a clear answer to these questions. To track your marketing budget and key performance indicators (KPI's), you need to pull them out of your business financial information. This can be a daunting task, but it is essential if you want to make sure that your marketing is effective and profitable. In this blog post, we will show you how to do just that!

The first step is to identify all the marketing expenses in your business financial information. This includes everything from advertising and marketing campaigns to salaries for marketing staff. Once you have a list of all the marketing expenses, you need to calculate the total amount spent on marketing each year.

The next step is to calculate your marketing return on investment (ROI). To do this, you need to divide your total marketing budget by the number of new customers or sales that were generated as a result of your marketing efforts. For example, if you spend $100 on marketing and it results in five new customers, then your ROI would be 500%.

Once you have calculated your marketing ROI, you need to compare it to your business goals. If your marketing ROI is lower than your goal, then you need to rethink your marketing strategy. On the other hand, if your marketing ROI is higher than your goal, then you are on the right track!

The final step is to create a marketing plan that includes measurable goals and objectives. This will help you track your progress and ensure that your marketing budget is being spent in the most effective way possible. By following these steps, you can be sure that your marketing efforts are accountable to your business financials - and that they are making a positive impact on your bottom line.

Marketing should ALWAYS be accountable to business financials. From your business financial information, you can track marketing budget and KPI's. This will help you ensure marketing is effective and profitable. Create a marketing plan with measurable goals to track progress. By following these steps, marketing will be accountable and making a positive impact.

Check out our financial review packages where we can offer a single assessment of your financial situation and marketing budget & KPI's, or offer your business a more structured, ongoing assessment to help make your marketing efforts more effective!