Communication Plan Budget, Marketing Plan Example
Words: 541Marketing Plan
Communication Plans required a great deal of research on the current market, and the techniques for effectively reaching the market. A combination of marketing, and advertising, as well as word-of-mouth generation is what many communication plans rely on. The budget is useful in outlining were resources will be allocated. The budget allows for mobility in knowing the limits to the strategies that the communication’s plan wants to do. The budget is broken down into four categories. Guerilla Marketing, Public Relations, Social Media, and Advertising. The percentage are equally split, and are used in categorizing the list of objectives and goals that the communication plan outlines:
- Guerrilla Marketing is 34% of the budget, the low cost strategy for marketers and advertisers. The objective is to create the realistic disaster ad in subways. According to the source, subway ad placement, and hiring one of the top ten advertising companies, Mullen Advertising Company will costs around $2 million.
- Public Relations is essential in communications plans and are 38% of the budget. The objective is to hire Wyclef Jean that usually charges upwards of $100,000 an event, with additional costs for his personal needs, body guards, transportation, hotel, and travel. All the in direct and indirect expenses including, transportation, security, equipment, food, etc. Venue and insurance, not to mention prizes that include raffle prizes, and silent auction prizes. Not to mention the cost of producing press releases to wire services, and it includes email marketing will generally net over $2.7 million.
- Social Media Strategies are 12% of the budget. It is expensive, to create website searches it usually cost upwards of $60,000, a successful Facebook, Twitter, and Instagram strategy will cost nearly $200,000, and that is projected at a medium price. PSA’s on YouTube will generally run to $2,500, including script, actors, equipment, time, and other indirect expenses. With a success viral video $50,000 per video.
- Advertising is the last category and is 16% of the budget. The last expense is Video Marketing with PSAs. Video marketing will costs to be included with SEO on Google. Including the indirect and direct expenses, which will be included on Facebook, Twitter, and the rest of the internet.
These expenses all add up to $7.3 million for the communications plan, with consultant fee, and cushion for risks and indirect expenses of $1,000,000.
Edgington, Nell. “Calculating the Cost of Fundraising.” Social Velocity. (2009). Retrieved from http://www.socialvelocity.net/2009/10/calculating-the-cost-of-fundraising/
Foxx, Jimm. “What does a corporate web video cost? 25 Factors (with prices) that affect corporate video production costs.” One Market Media. (2010). Retrieved from http://onemarketmedia.com/blog/2010/03/what-does-a-web-video-cost-25-factors-with-prices-that-affect-video-production-costs/
“Freelance graphic design hourly rates. What should I charge?” Freelance Graphic Designer. (n.d). Retrieved from http://freelancegraphicdesigner.info/freelance-graphic-design-hourly-rates.php
“How Much Does Social Media Costs?” The Content Factory. (2011). Retrieved from http://www.contentfac.com/how-much-does-social-media-marketing-cost/
PR. Web. (2013). Retrieved from http://service.prweb.com/pricing/
“SEO Pricing.” SEO MOZ (2012). Retrieved from http://www.seomoz.org/blog/seo-pricing-costs-of-services
“Subway Advertising.” Blue Line Media. (2013). Retrieved from http://www.bluelinemedia.com/subway-advertising
“Website design cost, social media networking, enewsletter price.” 720 Media. (n.d). Retrieved from http://www.720media.com/taa-dixon-website-design-social-media-marketing-email-cost/
“Wyclef Jean Booking Agency Profile.” CTI. (2013). Retrieved from http://www.celebritytalent.net/sampletalent/1806/wyclef-jean/
“Video Marketing.” SpotMixer. (2013). Retrieved from http://www.spotmixer.com/create_video/public_home
Time is precious
don’t waste it!