The marketing function of a large manufacturing company had traditionally failed to optimize its budget and was viewed by the CFO as a cost center. As such, the CFO was looking to cut the budget from the marketing function. Leveraging Gartner research and expert analysts, our client was able to apply an agile budgeting approach that resulted in C-level approval for a 12% increase in its budget and an additional headcount within the team.
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Mission-critical priority
The marketing VP had six weeks to present a proposal on how marketing adds value to the organization or face significant cuts.
How Gartner helped
Using the Gartner annual State of Marketing Budgets, agile budgeting approach and recommendations from expert analysts, our client created a budget proposal and ultimately secured a budget increase from the board and the CFO. After securing a budget, our client leveraged Gartner Hype Cycle and Magic Quadrant to shortlist vendors for its technology investments. Additionally, the VP worked with Gartner experts to structure the data and analytics team and identify key roles, skill sets and technology.
Business impact
With Gartner for Marketers, the client was able to successfully:
- Develop a more strategic approach to budget strategy, which helped communicate that Marketing is a value-adding, growth-accelerating part of the business
- Increase the board’s confidence in the team and the strategy
- Secure a 12% budget increase and approval to hire for two new roles
- Save time by making smart technology investments
- Build out a highly functioning data analytics and marketing insights team to support its new strategic marketing plans
Industry:
Manufacturing
Revenue:
$2 billion
Employees:
6,000+
Contact:
Marketing VP
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