Release date: September 8, 2020
At the beginning of a fiscal year (or client contract), it is typical to plan your total budget based on historical structure, upcoming activities, or marketing objectives.
For example, a retail store group might divide its total annual budget based on its typical campaigns (e.g. spring sale, summer sale, back-to-school, black Friday, etc).
Or an agency might divide its contract budget by different initiatives based on its client goals. (e.g. awareness, conversion, etc.)
No matter how you structure your initial budget for your media buys, changes will happen as you run your campaigns, and you'll probably transfer your budget in campaigns that are giving you the best performance.
Chances are, you'll need to report these high-level changes in spending strategy to your client or stakeholder at different stages of your campaigns.
With the current version, you'd have to capture these high level changes in the campaign notes manually, or by parsing the audit logs and extracting the important changes.
With the new version, each media plan and campaign have a history to record important events over the course of its life span that you can easily communicate with your client or stakeholder.
Let's see how it works...
Transfer campaign budget
For this example, let's consider a retail store group that initially defines its budget for the 2020 fiscal year with the following campaigns and budget:
In the middle of the "Spring Sale" campaign, the marketing department notices a lot of momentum with their advertisement strategy which is bringing a lot of traffic in their stores converting in record-breaking sales.
They decide to transfer funds from the "Corporate" campaign to continue fuelling the momentum.
The marketing manager goes in the Media plans module, opens the "FY 2020 / Corporate" campaign and clicks the "Transfer budget" button:
This will display the "Transfer budget" form where you select the amount to transfer to the destination campaign with an optional explanation:
Click the "Transfer" button and the amount is transferred:
Each media plan and campaign have a history that contains events.
There are 2 types of events: custom events and system events.
- Custom events are manually entered by the user to record a change.
- System events are automatically generated by specific actions in the system such as the "Transfer budget" action.
Each event has 3 information: The date that it occurred, a description of the event, and an optional explanation.
You can view the history of a campaign in the new "History" tab:
As an example, the "Transfer budget" action generated 2 system events...
... in the "Corporate" campaign (Source campaign):
... and in the "Spring Sale" campaign (Destination campaign):
Mouse-over the event to see the actions to modify/delete.
Note that you cannot delete a system event.
To update the event, click on the "Edit" button.
This will display the "Update history event" form.
Note that you cannot change the description of a system event.
Custom history event
You can add custom events to capture changes that occurred outside of MPHQ that affect your campaign and that you want to keep track of.
You can add a custom event from the "History" tab:
This will display the "Create history event" form. Note that the "description" is free form and mandatory for custom events.
You can also add custom events from the campaign forms:
The custom event is added to the history:
Finally, you can export the history of a campaign to Excel.
Go to the "History" tab and click the "Export to Excel" button:
This generates a professional Excel document that you can send to your client or stakeholder:
That's it ! We hope you'll enjoy the transfer campaign budget with history feature.
Give it a try and let us know what you think !
As always, don't hesitate to send us your great feedback or other idea for new features !