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Why sharing your budget is not a taboo

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As a potential client partner, you usually approach your chosen marketing agency with a project you want to launch, grow, develop or simply sell on the market. You don’t mind sharing the objectives and ideas your business plan has, yet you decide to withhold one very important piece of the puzzle: the budget. You might be tempted not to communicate your budget right from the start just to see what we have to offer in terms of marketing services – digital, concept or design. However, this decision is, more often than not, a bad idea. Why?

Deciding to work with a marketing agency means entering a business partnership. This means we both have our responsibilities and we both work for the same objective: the success of your company. Communicating, sharing resources and investing time are vital for building a strong business partnership. Sharing the amount of money you have set aside for the project shows that you’re prepared to take your business to the next level and you’re committed to develop a strong partnership with the agency in order to do so.

Not sharing the financial aspects of a plan usually turns out to be a waste of time, both for you and for us. Imagine that we present you a great proposal in terms of design and creative concept but you know that you budget pays only for a quarter of that. Or the opposite, you receive a proposal that is way under your budget and not at all what you hoped for. That means redoing the entire work, which takes time and effort and of course, money.

Why go through all that when you can just simply communicate an approximate budget up front?

Sharing the budget:

doesn’t mean you have to know the exact amount, to the last cent, but you should be able to give the agency a rough estimate. Or, simply put, how far can we go? A budget interval gives the agency the possibility to plan implementation for the following months in order to reach the best results in the most efficient way. It also sets a limit on how many marketing and communication channels should we approach or how complex can our campaigns be.

We all want to implement great marketing campaigns with a big impact but, more often than not, great marketing is also about achieving the best results using the budget and time frame available.

…  doesn’t mean the agency will charge you more. The agency already has estimated price quotations for the services they offer, depending on the type of project, level of complexity and estimated collaboration time. Charging you more means giving you more – which brings us to the next argument:

offers you more possibilities and a better end result. Sharing a budget up front means we’ll start working on the best proposal we can, with all the information we have at hand. For your project, this simply means:

creativity + efficient planning of resources = SUCCESS.

 

Do you have a project (and budget) you’d like to share?

We’re all for it! Give us some details below: