Sounds Like a Plan: Yes, it’s that’s time of year. Let the 2011 programming and budgeting begin!

By Teresa Henderson, Executive Vice President, GM Dallas & Co-Manager Austin

Wikipedia gallantly defines planning as “… the organizational process of creating and maintaining a plan; and the psychological process of thinking about the activities required to create a desired goal on some scale.”

Most companies approach the planning and budgeting season with a less philosophical point of view and a more pragmatic frame of mind: what does our budget look like, what do we want to accomplish and how do we align dollars and goals to achieve success? And the managers inside those companies often grapple with a smaller question that looms large: where do we start?

Wikipedia also states that “(planning) is a fundamental property of intelligent behavior,” so this year why not activate the process in a smart way by analyzing the results of current programs versus the budget allotted to them? Which ones paid off in the form of leads, sales or increased brand awareness? Are there sacred cows in your marketing pasture such as legacy trade shows, sales meetings or other events that could free up budgets?

Can you identify smarter, more economical ways to maintain the nuts-and-bolts supporting programs that have to remain? Recently, we advised a client that her company could save – and redeploy – thousands of dollars each month by revising the use of wire service categories for press release distribution.

Are you in line with your online thinking? According to the 2010 Marketing Trends Survey, 47 percent of industrial marketers reported spending at least one-third of their marketing budget online in 2010. Three of the top four sources for leads for industrial companies were online channels, including the company website, email marketing and search engine optimization. Consider increasing your online programming if you want to connect with your audience in 2011.

Again from Wikipedia: “An important, albeit often ignored aspect of planning, (sic) is the relationship it holds with forecasting. Forecasting can be described as predicting what the future will look like, whereas planning predicts what the future should look like.” As you enter the planning and budgeting process for the upcoming year, keep in mind the milestones that are forecast for 2011. These could include product launches or product updates, new partnerships or mergers, expansion into new markets or entrée into new customer segments. Be sure to factor the support – logistic as well as budgetary – necessary to deliver success.

At the end of the day, smart planning and budgeting comes down to evaluating past initiatives, focusing on new objectives and choosing the right programs to achieve your goals. The process can be straightforward and less taxing if you stay organized, intelligently evaluate and plan against what’s forecast for the future.

So get to it, get it behind you and get ready to blow out the coming year!