How to Manage Financial Risk in Your

Marketing Plans?

Marketing plans are integral to any business, especially if it is a

of B-to-C or Business to consumer model. This typically would

be products that involve consumers as the final end users

therefore, they need

to be informed by

the product. The

entire process then

follows is the

marketing which is in

the form of

advertisements, social media promotions, on ground activities,

sampling etc. Sachin Karpe will guide on managing financial

risks in marketing plans.

Any kind of marketing plan needs a budget to take it ahead. The

most challenging part is the lack of measurement of Return on

Investments (in this case the marketing spend). Not all media of

marketing has a mechanism to measure the outcome. The only

way remains the increase/decrease or leads for a particular

product. This may be seen as a financial risk by many in a

business. But, as a businessman, one needs to understand that

it is not important to monetize everything in business. There

are ancillary activities like marketing, admin and HR, to name a

few, that help keeping the business afloat. The best way to,

however, avoid any financial risk in a business is to not allocate

more than a specific percent of annual profit for marketing. It

must be understood that whatever is spent, does eventually

come back in terms of brand recall and visibility which later

converts into buying, explains Sachin Karpe.

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