Budgeting for Success PDF Print E-mail

The clearer the marketing team is about what they will be doing with the budget, the better their chances for success. A well-respected Marketing Manager for Lockheed Martin explained that he could tell when the budget request was for a loser because it was never for enough money to do the job that the competition would do.
"When folks are unwilling to commit themselves to the effort necessary to win, there isn't much point in committing enough money to come in second."
Determining the budget for the marketing isn't all that complex. As a general rule, professional services spend one percent of the project amount to market and win the project. This rule was developed by firms bidding on multi-million dollar projects, but it applies equally to projects of smaller size.

If the marketing budget (including the cost of the proposal) is not this much, you should ask why not. And if it is over this amount, you should also be asking why.


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