Budgets and Buckets
Every advertising campaign starts with a high level media budget. Those budgets are typically broken down into multiple pieces according to the strategy and goals of the advertising campaign. This breakdown might be according to a channel mix, a market strategy, a media investment strategy, a vendor strategy, a set of business initiatives, allocations for each media planner, or another segmentation strategy.
Buckets provide a way for you to clearly specify how a campaign budget should be broken out (totally custom to you), how much money is budgeted for each, manage approvals, and keep track of how much has been planned as you go. No more overspending. No more tracking somewhere else.
How you Bucket is completely up to you. You will setup Buckets within each campaign based on how you want to break out your budgets. Here are a few examples:
- Segment by Channel - Digital, Broadcast, Social, Video
- Segment by Market - Boston, California, France, Western Europe
- Segment by Timeframe - January, 1st Quarter
- Segment by Tactic or Objective - Conquesting, Up-sell, Engagement, Awareness
- Segment by Purchase Order - Setup a bucket for each PO
- Segment by Combinations - Boston 1st Quarter Digital Conquesting, February Video, Social Awareness
It's up to you!