Budgeting & Forecasting

One of the most stressful elements of marketing is how much you need to spend in order to get a return. Are you simply trying to emulate or outspend your competitors? Are you trying to spend as little as possible? Are you too overwhelmed to even think about what to allot to marketing? It pays to think about your long-term strategy surrounding your marketing budget, as this underlies every aspect of the business and can ultimately hinder or generate success.

Contrary to popular belief, you do not have to spend a ton on marketing in order to be successful, you just have to spend money wisely. And that requires knowing your goals, business strategy and ultimately your numbers. As a business owner, not knowing your numbers is the equivalent of leaving your success to chance. Understanding which products/services are the most profitable, tracking your close rates, tallying response rates for marketing campaigns and similar tactics can help you understand what you need to spend in order to be successful, and TS Consulting can help walk you through the process start to finish.

When reviewing budgeting and forecasting with clients, the first step is to evaluate the present data and then establish what data should be tracked in the future. Perhaps tracking website visits isn’t important to your business but tracking phone calls is. TS Consulting can help you identify these elements. From there, we work with the client to understand the goals of the organization, from which we then create a recommended budget to accomplish those goals.

A major aspect of budgeting is understanding the right price for your products or services. As part of the forecasting and budgeting process, TS Consulting can work with you to identify the ideal profit margin and subsequently the right pricing for your business. Adjusting pricing around profit margins and planning a strategy surrounding marketing spend and forecasting can catapult your business to a new level of success. Ready to see where the numbers could take you? Contact TS Consulting today for a free consultation.