Think of this as putting yourself in the shoes of the company exec pitching their budget - what saving or benefit will they need to demonstrate to win the approval of the CFO? Importantly, which exec will be the one to best position your product to get the green light on budget?
The top tip here is to work out where the money will come from in your target clients - which line item in which budget is going to give you the revenue you need, and who is in charge of signing it off - you'll sometimes be surprised, because it's not always the person you think it is.
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We need to look at the kind of idea we plan to propose and figure out who would have the power to implement the same. Study the power dynamics of your company using the RACI matrix:
We would advise small businesses to have a budget equivalent to a senior-level marketer’s salary, e.g., $120,000. This is why it is often cost effective to hire an agency—a small business gets a whole team of experienced staff for the price of one employee.
As a last resort, if the small b...
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