4. Building Flexibility into the Budget

The digital landscape and consumer behaviour are both rapidly evolving. Therefore, successful marketing budgets should include built-in flexibility to respond to emerging trends and changing market conditions. Businesses targeting NEOs must be prepared to capitalise on new opportunities as they arise, whether it’s an emerging social cause, a new content platform, or a shift in audience preferences. This flexibility might involve allocating a portion of the budget to an “opportunity fund” that can be quickly directed towards promising new initiatives.