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Budgeting for Marketers: Essentials

Study Method
In-class, Online
Locations
Online, London
Institution
Institute of Data & Marketing
Start Date
Enquire to find out

Course overview

Get a greater understanding of the numbers that underpin your marketing. This introduction will help you to create the right financial business case and measure outcomes. Use this knowledge to forecast results and build successful marketing campaigns.

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Campus locations

What you'll learn

  • Gain a greater understanding of direct and digital marketing metrics
  • Gauge the success and failure of your marketing activity
  • Understand the principles and the terminology
  • How to understand and apply results to maximize campaign performance
  • Budget and build the financial business case for campaigns

Study method

  • In-class
  • Online
  • Blended

Locations

  • England
    • London
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Duration study load

1 day (7 CPD hours)

Testimonials

  • Laura Johnston, Global
    Budgeting for Marketers: Essentials
    "Tim was super engaging in a potentially dry topic with lots of practical and interesting examples - I am excited to put what I learned into practice."
  • Budgeting for Marketers: Essentials Review
    Budgeting for Marketers: Essentials
    "A very enjoyable & informative session. Thank you Tim. Lots to go away and think about."

Delivery

Home Learning

All learning products and services are currently being delivered digitally using the following engaging formats:

  • Virtual classroom: Tutor-led, live, online classroom environments
  • Online: Self-study, via an always-on, always open portal, providing an engaging multimedia learning experience

Who's it for?

Finance for Marketers is for all who need an introduction to the key financial principles that underpin direct and digital marketing – implementers, strategists and those who have any engagement in this activity within their organisation.

You will gain insights into the basic metrics involved with planning and evaluating marketing activity, and learn how to build predictive models that support evidential business cases.

Subjects

Core Units
Principles of budgeting for direct and digital marketing
  • How to evaluate the cost-effectiveness of your direct and digital marketing activity
  • Evaluate the performance of on and offline marketing channels
  • Understand and calculate your Allowable Marketing Cost (AMC)
  • Modelling customer Lifetime Value (LTV) by source and customer type
  • Understand how recurring revenue models work and affect AMC
The building blocks of direct and digital marketing metrics
  • Maths for marketers; percentages, mean, median, mode etc.
  • How to calculate your Cost per Mille (CPM), Cost per Response (CPR), and Cost per Action (CPA)
  • Calculate your Cost per Sale (CPS) and conversion rates
  • Understand and calculate a break-even point
  • Evaluate Market Share
Accounting definitions made easy
  • Introduction to accounting principals and terminology, including cash flow, yield, contribution, fixed and variable costs, Earnings Before Interest and Tax (EBIT), and Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)
  • Understand key business finance concepts including risk, opportunity cost, Net Present Value (NPV)
  • The importance of budgets and forecasts
  • How to calculate your Return on Investment (ROI)

(Participants will be provided with a full glossary of terms to take away)

Performance measurement systems for direct and digital marketing
  • Metrics frameworks for assessing the effectiveness of direct and digital marketing
  • Identifying Key Performance Indicators (KPIs)
  • How to Build a Balanced Scorecard (financial and non-financial metrics)
  • Structured improvement through A/B and multivariate testing
  • How to build a test matrix and calculate minimum sample cell sizes and margin of error
Budgeting for digital marketing
  • How to build budgets and forecasts
  • Typical costs and response measures
  • How to monitor and control budgets
  • Variance analysis and managing costs
  • How annual and departmental budgets are built from campaign budgets
  • Budgeting for different growth scenarios
  • Marketing maths and working with budget holders – Top tips to get your business case approved
Want more information about the subjects for this course?
Get the course guide

Payment options

Course fees  – £450 (Non-Member) £400 (Member)

  • No government funding available for this course
Find out more about the payment options for this course
Get the course guide

About Institute of Data & Marketing

For 30 years, it's been our mission to provide best-in-class training, qualifications, events, resources and membership services to meet the real-world needs of today's digital, direct and data marketers.

Committed to helping every marketer be the best they can be, the Institute of Data & Marketing exists to support, encourage and improve marketing performance from your first steps on the career ladder, right to the very top.

Every Institute of Data & Marketing programme is designed and delivered by practising marketers, who know what it takes to succeed at the job and are dedicated to helping you succeed in yours. The Institute of Data & Marketing advocates lifelong learning. We maintain an up-to-date training and qualifications portfolio designed to meet the needs of marketing practitioners throughout their careers—at every stage, from college student to senior marketing manager.

The Institute of Data & Marketing has a worldwide reputation for the quality and practical nature of its training and qualifications. Our services – for individual marketers and businesses – are in demand worldwide as more and more businesses seek to apply personal, customer-centric, one-to-one marketing.