What is planned spend in SAP CEC-MKT-MSM - Marketing Spend Management?

SAP Term: planned spend

• Component: CEC-MKT-MSM

• Component Name: Marketing Spend Management

• Description: Estimated spend that is assigned to a campaign.

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• Key Concepts: 
  Planned spend is a term used in SAP CEC-MKT-MSM Marketing Spend Management to refer to the budgeted amount of money that a company has allocated for a particular marketing campaign. It is the amount of money that the company expects to spend on the campaign, and it is used as a benchmark for measuring the success of the campaign. 
  
  How to use it: 
  Planned spend is used to set expectations for a marketing campaign. It is important to set realistic goals for the campaign, and planned spend can help ensure that these goals are achievable. The planned spend should be based on research and analysis of the target market, as well as an understanding of the costs associated with running the campaign. 
  
  Tips & Tricks: 
  When setting planned spend, it is important to factor in any potential changes in market conditions or customer preferences that could affect the success of the campaign. Additionally, it is important to track actual spending against planned spending in order to ensure that the budget is being used efficiently and effectively. 
  
  Related Information: 
  Planned spend is closely related to actual spend, which is the amount of money that was actually spent on a marketing campaign. It is important to compare actual spend with planned spend in order to measure the success of a campaign and identify areas where improvements can be made. Additionally, planned spend can be used as a benchmark for future campaigns, allowing companies to set realistic goals and budgets for future campaigns.