How Data-Driven Decision Making Improves Budget Decisions and Results
How do you determine the right amount to spend on marketing and how to allocate it across different program options? If you’re finding it difficult to determine a marketing budget you feel confident in, you’re in good company.
At Nielsen, we conducted research among B2C marketers to uncover how those responsible for their company’s large marketing budgets make decisions, and what practices lead to better outcomes. Faced with steep competition, B2C marketers need to spend every penny wisely. Yet, the research found that less than half of respondents (40%) feel very confident in their team’s ability to determine the most effective way to allocate their marketing spend.
This comprehensive report reveals how marketers are planning their budgets today and how they can do better. Learn more about the forecasting models, methodologies and tools B2C marketers are using to plan their budgets, the practices used by marketers who are more confident in their marketing budget decisions, and get recommendations for how you can improve your budget planning.