Targeted Budgeting Tool

Microsoft's Targeted Budgeting Tool

A targeted budgeting tool is part of marketing strategy plan, and can help you get a better idea of how you should plan to market to your current and potential new customers. The targeted budgeting tool is for the upcoming year and allows you to project sales growths and revenue increases or decreases, and then if a particular strategy is not working or product not selling, you can change your strategy or pursue a different product or service to sell. This tool is similar to a lot of other marketing budget planning tools, but there are a few tips to keep in mind while using it.

How to Use the Targeted Budgeting Tool

This is an Excel template that can be used with versions 2003 or later, and it’s free to download and easy to customize. While the targeted budgeting tool can be tweaked to fit your particular company’s needs, it should contain most of the following information inside it.

  • The budget should focus on both existing customers that you’re targeting, as well as new customers.
  • While this template has the fields already pre-listed for marketing investments for customers and brands, you may want to break down those fields into more specific subcategories for which the investments will be used.
  • You can then configure Excel to add in the index numbers for your returns on marketing investments in those fields.
  • You can configure this budgeting tool to show projections for the upcoming fiscal year, or over a shorter term.

Tips for Using the Targeted Budgeting Tool

  • This projected budget should be made after careful research has been done for each marketing strategy so that a more accurate projection can be made for revenue growth or decline.
  • You will want to take a close look into how your marketing strategies have worked over the long-term period as opposed to just the short-term.
  • You should work closely with the company auditing or accounting departments to make sure they are on the same page with potential fund increases or decreases, and to make sure that there are no major discrepancies within your budgeting plan.

Download: Targeted Budgeting Tool

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