Booyah! Budget in Husky is completely renewed. It is the result of a lot of thinking and conversations with our customers. On the one hand, budgeting marketing projects is now easier and more understandable, and on the other hand, the power users get extra capabilities to plan and follow up their marketing budget.
A bird's eye view of what's new:
Simply too much for just one blog post. Below we have clarified the most important novelties. Or dive into our Help Centre if you want to know more about certain topics.
The new Budget module is immediately available to everyone. You don't have to do anything to activate it. If you have questions or suggestions, don't hesitate to contact your Support manager.
Budgeting should never be just a financial report of what you have spent, because then you only look back. You should also dare to look ahead and list what you expect to spend. The difference between the two offers the necessary room for manoeuvre for the marketer.
You can budget in different ways:
You set a limit per plan and per project group. You do that at Budget. For example, your planning limit can be 10% of the company's turnover. You assign 25% of your planning limit to the Events project group.
Then you enter project budgets. Here you will gradually discover how much budget is still available in relation to the project group limit or the planning limit. Then you can refine each project with costs.
You start with the costs within a project and discover what you need to make a project succeed. This is how you arrive at totals for project groups and the complete plan. You can then set limits around that. For startups and smaller companies this is often the desired approach. They try to spend as little budget as possible and therefore start from what is absolutely necessary.
Important in our budget module is the distinction between estimated costs and effective expenditure, the invoices. If you organise an event, catering will be a cost, for example. You estimate that cost, according to your experience as a marketer or on the basis of a quotation by your supplier. If you do that for all the costs, you will get to know the project budget or you will know if the planned project budget is sufficient and where you may have to make adjustments.
You have not spent a single cent on determining your costs. That changes when you start to receive invoices. You add these to the correct cost, so you can check whether your expenses are in line with what you expected. This way you get the marketing budget under control.
You should always compare expected costs and invoices with the project budget.
In Husky we make it possible for you to both budget and keep track of invoices. Moreover, you can grow in it. You can start with a certain part and gradually use it more intensively. The more you apply, the better you are managing your budget. How do we do that?
If you assign budgets to moments in your communication calendar, these costs will automatically be made in the Budget of your project. The costs are the totals per channel. For example, within a project you have the 'Facebook ads' channel and you place all your sponsored posts on it, each with their own advertising budget. In your Budget, the cost 'Facebook ads' will appear automatically with the total of all those moments.
Moreover, the cost will also include the tags that are determined at the level of the communication channel. If that channel 'Facebook ads' had the tag 'social ads', this also applies to the linked costs. If you do this in multiple projects, you can see a total of all social ads and in which projects this type of cost appears.
When filtering tags, we always use the waterfall system. First we check if a project has a certain tag. If so, all costs in that project are included. If not, we look for specific costs with that tag and only those costs are added up. If a cost has the same tag as the project, it is of course also included, just like all other costs within that project.
It is easy to display figures in tables. It becomes a bit more difficult to deal meaningfully with those figures. How do we meet this challenge?
If you want to make your own graphs or calculations, you can export all the data to an Excel file and indulge yourself completely.
Do you want to know why Husky can be an asset to your budget?
Read more about marketing budget here or book an online demo.