Establishing Budgets And Finding Funds Flashcards
Budget
Costs for implementing marketing plan, including additional research and monitoring and eval plan
Costs for implementing marketing plan, including additional research and monitoring and eval plan
Budget
Any anticipated incremental revenues, cost saving, or partner contributions
Budget
Budget
Any anticipated incremental revenues, cost saving, or partner contributions
DETERMINING BUDGETS:
Affordable method
Competitive-parity method
Objective-and-Task Method
Based on what the organization has available in the yearly budget or on what has been spent in prior years
Affordable budget
Based on what others have spent for similar efforts
Competitive-parity method
Based on:
- Reviewing specific objectives and quantifiable goals
- Identifying the tasks that must be performed to achieve these objectives
- Estimating the costs associated with performing these tasks
Objective-and-Tasks method
COSTS
Product related costs Price related costs Place related costs Promotion related costs Evaluation related costs
Justifying the budget through:
Return of investment (to be judged based on outcomes related to financial inputs)
to be judged based on outcomes related to financial inputs
Return of investment
Sources of additional funding:
- Government grants
- Nonprofit foundations
- Advertising and media partners
- Coalitions
- Corporations
How to deal with inadequate funding:
- Develop campaign phases (spread campaign out over a longer period of time)
- Strategically reduce costs (eliminate tactics with questionable potential impact, choose less expensive options, make tasks in-house)
- Adjusting goals (make promises more honest and realistic)
Is outside funding necessary?
Startup and expansion
- Startup (start small and test using own resources, key: establish track record)
- Expansion (if marketing is good, external fund resources will com in, key: leverage)
Fund sourcing:
- Identify benefits and barriers to fostering the desired behavioral change through research
- Describe strategies and tools to be used
- Pilot or target the strategy to a small portion of a community to test the effectiveness of the strategy.
Phase 1: developing a strategy for social marketing campaign
Phase 1: developing a strategy for social marketing campaign
- Identify benefits and barriers to fostering the desired behavioral change through research
- Describe strategies and tools to be used
- Pilot or target the strategy to a small portion of a community to test the effectiveness of the strategy.
Fund sourcing:
-Roll out the campaign to a targeted group within a community based on the strategy developed in phase 1
Phase 2: testing, survey, results
-complete a post evaluation survey to help assess whether behavior changes took place and detail any evidence that there was a positive change in resource use
Phase 2: testing, survey, results
Phase 2: testing, survey, results
- Roll out the campaign to a targeted group within a community based on the strategy developed in phase 1
- complete a post evaluation survey to help assess whether behavior changes took place and detail any evidence that there was a positive change in resource use
Financing for expansion:
- Identify own __________ and own __________
- Research on outside _______________ and _________________
- Match own financing needs with ______________
- Development focus; resource needs
- Development focus; resource availability
- Outside financing opp.
Public resources
- infrastructure (community spaces, venues)
- information (research and statistics)
- advocacy and campaigns
- equipment
- capacity building/tech assistance
- network/manpower
Donor resources
NGO/International donors
- grant money
- equipment
- capacity building/tech assistance
- network/manpower
Corporate resources
Corporations:
- CSR programs (ex. Jollibee’s maagang pasko)
- X Deals; product endorsement/placement
- Equipment
- Capacity building/tech assistance
- Network/manpower
Keys to attracting finance:
Public/Government
Public benefit, in line with local/national development agenda
Keys to attracting finance:
NGO/International Donors
Strong development focus, track record
Keys to attracting finance:
Corporations
Marketability, In line with brand/image
Keys to attracting finance:
Encompassing
Networking/linkaging, mutual benefit/contribute to institutional targets, offer couterparts.emphasize own stake, avoid transactions; establish partnerships, choose partners carefully;think longterm
