NEWS & INSIGHT

29 jun 2020

How to define its own marketing budget and have a benchmark? The answer of VA Consulting - Arbitrio - Advertising Production Advisory

READ MORE: Engage Magazine - The Production Advisory & Cost Control company leaded by Alessandro Arbitrio supports in a precise manner the companies in their initial definition of the costs to get started a communication project.

In the definition of an advertising or communication project, it is crucial for the marketing to have a benchmark of reference.

In fact, the initial definition of the project costs is one of the pivotal points that are impossible to disregard in order to have a global vision and an optimization of the total expenses. Just to mention a few examples, we can think about starting a competition among agencies, shooting a commercial, a radio spot or a digital campaign, an e-commerce system, a website, a social campaign or a post-production adaptation, or even developing creative material meant for sales points or an event.

This step takes place throughout the communication within the marketer, who needs a campaign for its own brand, and the Finance/Purchase Department of the company that has to allocate the budget for its development.

How to make sure that the Communication and Marketing Department manages to illustrate to all the members the project itself and especially the correct cost report?

The answer is: using specific skills and a benchmarking tool, such as the System-SICS, a single system of analysis and management of marketing and benchmarking projects.

What is System-SICS

System-SICS is a system specifically designed to provide the customer with the possibility to access a database of about 140.000 quotations belonging to 12.000 marketing campaigns already carried out in all industry sectors.

Last October, System-SICS has been enriched by Influencer benchmarking and Ratecard Calculator forms (read here). Now this system is part of the benchmark activities of VA Consulting and is intended to support the marketing department at the time when it is necessary to understand how much money the company will spend for every section of the project, giving the Finance and Procurement units the correct figures, in order not to throw up unpleasant surprises.

Furthermore, looking deeply into this point, VA Consulting monitors each step of the campaign making, in order to ensure that the funds previously allocated are properly used and for the appropriate day-by-day supervision, which is also useful in the event that some changes and cost variations happen in the making.

Every benchmark provided by VA Consulting using the System-SICS is calibrated on the dimensions and on the real customer requirements, who can also benefit from the VA Consulting experience in its application and reading.

«The application of this tool to its own projects paves the way for a work-in-progress with which it is possible to develop a historical profile of the customer company, on which we can adjust the efficiency for the future investments in the advertising and communication fields. » Alessandro Arbitrio, CEO @ VA Consulting – Advertising Production Advisory & Cost Control, explains.