Establishing Budgets And Finding Funds Flashcards
Budget
Costs for implementing marketing plan, including additional research and monitoring and eval plan
Costs for implementing marketing plan, including additional research and monitoring and eval plan
Budget
Any anticipated incremental revenues, cost saving, or partner contributions
Budget
Budget
Any anticipated incremental revenues, cost saving, or partner contributions
DETERMINING BUDGETS:
Affordable method
Competitive-parity method
Objective-and-Task Method
Based on what the organization has available in the yearly budget or on what has been spent in prior years
Affordable budget
Based on what others have spent for similar efforts
Competitive-parity method
Based on:
- Reviewing specific objectives and quantifiable goals
- Identifying the tasks that must be performed to achieve these objectives
- Estimating the costs associated with performing these tasks
Objective-and-Tasks method
COSTS
Product related costs Price related costs Place related costs Promotion related costs Evaluation related costs
Justifying the budget through:
Return of investment (to be judged based on outcomes related to financial inputs)
to be judged based on outcomes related to financial inputs
Return of investment
Sources of additional funding:
- Government grants
- Nonprofit foundations
- Advertising and media partners
- Coalitions
- Corporations
How to deal with inadequate funding:
- Develop campaign phases (spread campaign out over a longer period of time)
- Strategically reduce costs (eliminate tactics with questionable potential impact, choose less expensive options, make tasks in-house)
- Adjusting goals (make promises more honest and realistic)
Is outside funding necessary?
Startup and expansion
- Startup (start small and test using own resources, key: establish track record)
- Expansion (if marketing is good, external fund resources will com in, key: leverage)
Fund sourcing:
- Identify benefits and barriers to fostering the desired behavioral change through research
- Describe strategies and tools to be used
- Pilot or target the strategy to a small portion of a community to test the effectiveness of the strategy.
Phase 1: developing a strategy for social marketing campaign
