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Other common approaches
Include (based from the CMO survey):
- Building the budget from scratch every year based on new needs and objectives - 28%
- Setting the budget as a percentage of projected revenue - 21%
- Resetting the budget every month/quarter depending on what's needed to meet the objectives - 10%
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Creating a Yearly Budget
This is the most common approach that senior marketers take for setting their marketing budget that is based on the previous year's expenses.
A survey reported that 41% of their respondents base their yearly budget the previous year's expenses and then adjusted during the year if needed.
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