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Forecasting marketing spend to secure the necessary funds to meet your performance targets takes a lot of effort; so the last thing you want is to mismanage it by overspending or underspending. Underspending can threaten program outcomes, and overspending can cause P&L issues and market momentum disruptions if campaigns need to be cancelled.
There are two ways business growth is impacted including: when you are unable to spend money you expected would be available and when dollars are simply wasted due to lack of visibility of what’s remaining in the budget.
McKinsey & Company predicts that when spend management is done well it can unlock as much as 20% of a marketing budget; which according to Forrester can result in 4% more revenue.
Your organization could gain:
$1,300,000
in revenue / year
Forrester estimates that wasted marketing spend results in 2X less ROMI, so it will take you more money to drive the same results. At just a 4% impact on growth, your company could gain $ in revenues per year. Does this feel too high for your business? Feel free to adjust the slider; however, even a 2% impact on revenue is equivalent to $
Find out why Juniper Networks has been able to remain within 1% of budget every quarter since deploying Allocadia, with a team of over 200 marketers worldwide.
How did we get those numbers?
Our data shows these typical numbers of person-days per year spent on marketing planning, budgeting & performance measurement when no solution such as Allocadia is in place. Examples of this time can include compiling data, reporting, reconciliation, formatting, accruals, communication with other departments, meetings, spreadsheet management & troubleshooting, etc.
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Allocadia customers typically experience an efficiency boost of 40% to 50% for their planning, investing, and results management processes compared with an error-prone spreadsheet-based approach. This enables teams to focus more on marketing and less on administrative tasks.
Hear how Palo Alto Networks reduced the time their marketing team spends managing their budgets by 66% with Allocadia, and saved over $170K in wasted time costs.
Note: We won’t pretend you will cut any significant costs. This analysis illustrates what your marketing organization can save at a minimum from greater efficiency from using Allocadia for your global planning and budgeting, and what your team can now do with that time.
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Without a solution like Allocadia, below is a breakdown using Forrester estimates on the average percentage of time per year spent on budgeting by key roles in marketing. The estimated time includes data collection, reporting, reconciliation, formatting, accruals, communication with other departments, and data verification.
Total number of days per year:
Annual cost of their time:
Note: You can override these numbers based on your organization’s own experience. Annual cost of your team’s time includes paying employee benefits.
Based on what our customers have shared, your marketing finance teams will also save about 30% of their time closing the month end.
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Based on research from Rakuten Marketing and McKinsey & Company, between 20 to 26% of marketing spend is wasted per year on unproductive strategies and ineffective channels, and even more within specific areas. Allocadia gives you full budget visibility which improves accuracy and ensures marketing teams can quickly reallocate spend, cut the least-effective programs and do more of what's working.
Read how Box drove higher profitability by doubling their pipeline-to-spend ratio with a holistic view of the impact of all their marketing activities across various channels.
Beyond these savings and efficiency gains, you will also receive: