Budgeting either for personal or for commercial purposes is indeed overwhelming, and budgeting for a nonprofit organization’s marketing tactics and plans is even more challenging. But that challenge is important to overcome on time to help your organization achieve its goals and initiatives all of you are working hard for. When your marketing initiatives are executed properly, they can help you make objective decisions to ensure future success. If you’re tasked to create a marketing budget, then you’re in the right place. This article will guide you on how to prepare a marketing budget for your nonprofit organization.
3+ Nonprofit Marketing Budget Samples
1. Nonprofit Marketing Budget Sample
2. Editable Non-Profit Marketing Budget
3. Non-profit Content Marketing Budget
4. Standard Non-profit Marketing Budget
Why Is A Non-Profit Marketing Budget Important?
Having a budget for marketing activities help you plan what marketing initiatives you can do to promote your organization and to prepare the right resources to execute it. You can also set marketing goals realistically when you have a budget which will also make it easier for you to report on your marketing return of investment report that you do at the end of the year. When you establish a budget for your marketing, it’s best to prepare it 2-3 months ahead before your new fiscal year. This gives you and the organization enough time to pull together different components needed for your marketing strategies. It will also give you enough time to get approval from the board so you can get started working on your marketing strategies before the new year begins.
How to Create a Nonprofit Marketing Budget
1. Set Your Strategy
To start, you’ll need to have an idea of the objectives your organization has set for the year. Your marketing strategies should be flexible enough to offer support in a variety of ways to different initiatives of your organization.
2. Determine Your Marketing Goals
Review your organization’s marketing goals. What goals are you focusing on? Some typical marketing goals in nonprofits include quotas, boosting leads, increasing donations and support, or driving more website traffic. Make sure your marketing goals are clear and measurable and should also support your organization’s overall goals.
3. Pick Your Tactics
Identifying what marketing tactics you’ll use and knowing the costs associated with them will help you create realistic estimates for your budget. Ensure that you include both traditional and digital marketing efforts in your tactics. Examples of traditional marketing efforts are print advertising, radio commercials, billboard messaging, to name a few. Examples of digital efforts are social media advertising, web display advertising, internet marketing, just to name a few. If you need to cover events as part of your marketing effort, include this as part of your tactics as well.
Once you’ve decided on your tactics, it’s time to strategize on how to allocate your budget. Just to be on the safe side and ensure you don’t run out of budget, you can also set up a miscellaneous fund so you can plan for unexpected costs such as last-second requests. Having miscellaneous funds can also help cover other costs such as photography, videography, or advertising for TV.
4. Communicate With Your Team
The marketing process for a nonprofit is nowhere near a one-man job. You need a team to help you implement and execute your plans, plan events for your nonprofit, and keep an eye on your budget to make sure you don’t deplete it with your demands. So it is important to let your team know everything about your marketing goals and how you’ve come up with your tactics by basing them on your goals. Communicate with them often to let them understand your marketing goals well so they can do a great job with the marketing activities.
FAQs
What is the average budget of a nonprofit for marketing?
The average budget for non-profits for their marketing activities is around 5 to 15% of their operating budget.
What is marketing for nonprofit organizations?
Nonprofit marketing refers to the tactics and strategies these organizations use to raise donations and spread their message.
Who is the target market for nonprofit organizations?
Nonprofits usually target their beneficiaries or recipients of the organization’s services, potential volunteers, and prospective donors.
Don’t forget that while you’re communicating with your staff regarding your marketing budget, include what resources or methods are needed for the tactics to be executed successfully. Addressing expectations from different people in your staff makes the planning for the budget and marketing seems a little less thing to worry about. To help you get started making the budget for your nonprofit’s marketing plans and strategies, download our free sample templates above to use as your guide!
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