In 200 words or more, explain how budgeting can be used at your employer
or a previous position you've held.
As the Marketing and Sales Coordinator for my last company, I had to plan,
coordinate, and manage all of the sales and marketing campaigns for the
year as well as decide which trade shows and conferences to attend.
doing all of this, I had a specific budget to work with which was decided
upon by management at the beginning of the company’s fiscal year.
Regarding trade shows and conferences, I had to budget for costs
including rental space for the shows, travel for employees, hotels, car
rentals, meals, shipping for trade show merchandise, costs for employees
attending classes at conferences, carpeting for the booth area, electrical,
business card scanning machine rental, mailings for invitations for
attendees to visit our booth, the list goes on.
All of this costs money and a
lot of it.
Regarding the sales and marketing campaigns, budgeting included
costs for artwork for the mailers, the cost for the mailing, and specific costs
depending on the campaign itself.
I would research the shows and conferences where wanted to show and
have employees attend up to two years in advance but management would
always throw extra shows at me with little to no notice.
campaigns, as much as I knew in advance what to budget for,
management would always throw some extra campaigns at me that would
severely mess with my budget.
Being that the marketing department spends money but generally does not
make money, if the company was doing less-than-projected in another
area, marketing would be the area where the budget would be cut making it
that much harder to fit all that management wanted into a tighter budget.
To keep management happy and to keep my budget from being cut many
times, I had to prove that the trade shows and conferences we were
attending were beneficial to the company.
I did this by keeping track of
who was attending our booth using the business card tracking device I
rented at each show.
I then crossed this with the orders for three months,
six months, and one year after each show with the orders that were
received to show a correlation to someone visiting our booth and ordering
from us shortly after.
I also kept track of all of the costs mentioned above