If you’re here looking for ways to create a budget for your printed marketing collateral then you’ve come to the right place. It is important to plan for print collateral as part of a marketing strategy, but many marketers and designers are unsure how to accurately estimate the amount in their marketing budget.
If you fall into this category, don’t worry! In this article, we will break down the steps needed to create a budget for printed marketing collateral.
Marketing Budget Preparation in General
A marketing budget is more than a series of numbers that you hope end up showing a profit. It is also an easy way to set realistic expectations and a fiscal strategy for approaching and executing product decisions, working with vendor partners and overall marketing. A marketing budget for printed marketing collateral can be approached in two different ways. The first method is when you are handed a specific number to use as your budget. The second method is when you have the freedom and flexibility to come up with the actual print collateral budget numbers.
Let’s take an in-depth look at both budget options:
When a Marketing Budget Gets Handed Down
This budget option is sometimes considered to be the easier choice since you don’t need to establish the marketing budget from scratch. Instead, the budget is handed to you and your task is to stay on budget. However, you still need to decide on the total amount you will allocate to your printed marketing collateral.
When You Must Develop the Budget
This budget option is the one that often confounds many marketers. This budget process can best be started by getting a dollar range from your leadership that details what they consider to be an acceptable amount to spend on marketing. If you do not have any idea about your budgetary expectations, you might spend more than the business can comfortably afford.
In addition, you will need to devise a budget strategy:
- Identify your marketing goal(s)
- Decide on the online and print marketing methods you will use to reach that goal
- Estimate how much money will be necessary to market on each channel
- Compile all of the information to create your budget
Creating a Budget for Printed Marketing Collateral
Printed materials are a powerful advertising and branding tool, keep in mind, however, that print marketing is one part of your overall marketing strategy so it will need its own section of the budget. While the necessary steps to arrive at this budget are similar to the creation of the overall budget, you can get more in-depth with your costs since you are focusing on a specific marketing method.
- Identify what you want to print along with the number of printed pieces you need to create
- Get an estimated quote for the printing cost
- Estimate the total shipping cost for the printed marketing collateral
If at all possible, calculate your desired ROI so you will be in an ideal position to get your budget approved by your leadership.
Want to make sure you include all of the necessary items to create your printed marketing collateral budget? We can help.
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