The traditional approach to budgeting is broken. Worse. Budgeting builds dysfunction into business and into your marketing department. There is a better way.
This week, we meet Dr Steve Morlidge, thinker, speaker, author of The Little Book of Beyond Budgeting and chair of the European Beyond Budgeting Round table.
Traditional marketing budgeting limits a marketer’s ability to adapt to rapid market changes. This inflexibility, combined with a focus on short-term targets, can lead to inefficient spending—where budgets are used up to secure future funds rather than drive meaningful growth.
The conventional process also discourages innovation by penalising risk-taking, essential for breaking new ground in marketing strategies.
-Discover Flexible Budgeting Approaches: Learn how to move beyond the traditional, restrictive budgeting models to embrace more dynamic and adaptive financial planning strategies that align with fast-changing market conditions.
-Enhance Innovation and Risk-Taking: Gain insights into how shifting away from a rigid budgetary focus can encourage innovation and risk-taking in marketing strategies, leading to greater creative freedom and potential breakthroughs in the market.
-Optimise Resource Allocation: Understand methods to avoid wasteful spending and optimise marketing budgets, ensuring that resources are used efficiently to maximize impact and ROI in your campaigns.
Steve has many answers... this episode might just hold the key to your future success?