Marketing spend represents the amount of money a marketing department spends on activities such as content marketing, paid advertising, SEO, social media, trade shows, and more. Spend is typically outlined in a company’s marketing budget.
Optimizing spend entails bringing more leads into the marketing funnel for the lowest cost.
Why is it important to know your marketing spend?
A company that manages its spend on marketing activities can make better strategic financial decisions. By having an idea of how much money is allocated to the different areas of a business’s marketing campaign, a company can tell if too much money is being spent on one area, and if it needs to spend more in another.
One of the best ways to plan allocate spend is in a marketing budget.
You can analyze and optimize your marketing spend with our Executive Reporting Tools.
In a Sentence
After running a Facebook ad campaign, Maven looks at his marketing spend for the month to see if he has enough budget for another campaign.