Online Course Support | The Business of Social

Which of the following steps are involved in developing your budget? Choose all that apply.


You need to create performance funnels and establish KPIs. Because your plan hasn’t happened yet and you don’t have historical data to create every KPI, we will develop some “what if” scenarios to forecast possible performance. Technology costs are found in several areas — the cost to build a landing page, the cost of the data warehouse to store the information, and the cost of the web login system. Another technology expense is the cost of the entire community website. Another component to a budget is staffing. For your marketing staff, generally include 1 full time and one or more part-time staff. If you are a start-up, you will likely be one of these staff positions. For the IT staff, you will generally have 1 full time and perhaps some part-time staff. As in all business decisions, you can outsource or build this staff in-house. The final cost component is the marketing costs. You will determine which marketing channels you will use and then develop the costs for a 1 year marketing program.

Develop your staffing costs.

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