Aerial advertising is a sector that is gaining immense popularity due to the impact it creates in the minds of the audience. The allure of seeing the message in the sky has a unique charm and novelty factor that ground advertisements lack. However, launching an aerial advertising campaign requires strategic financial planning and budgeting. This budget creation process is more complex than it seems, as it involves a multiplicity of factors to ensure optimal use of resources and maximization of return on investment.

To initiate the budgeting process, the first crucial aspect is to determine the financial resources available for the campaign. This self-assessment will clarify the boundaries within which the campaign should operate. It is essential to remember that the campaign's financial boundaries should include not just the aerial advertising costs, but also costs for creative development, production, and post-campaign analysis.

The second key step in the budget planning process is to understand the cost structures of aerial advertising agencies. Typically, these companies charge based on factors such as flight hours, banner size, type of aircraft, and geographical location. Therefore, a clear understanding of these factors will assist in the customization of the campaign based on the budget.

Flight hours constitute the major chunk of the budget. The more the flight hours, the more impressions the campaign can potentially create. However, this calls for a balancing act. Allocating more flight hours will naturally increase the campaign cost, but it could also yield better results in terms of reach and recall.

Another significant cost factor is the banner size. Larger banners are more visible and hence can potentially create a stronger impact. However, larger banners require larger aircraft, increasing the cost. Therefore, a tradeoff exists between the impact and the cost.

The type of aircraft is another determinant of the cost. Airships, helicopters, and airplanes are the commonly used types. Airships are the most expensive due to their large size and slow speed, followed by helicopters and airplanes. Here again, selection would need to be based on the tradeoff between cost and impact.

The geographical location of the campaign also has a bearing on the cost. Campaigns in metropolitan cities are likely to cost more compared to smaller cities or suburban areas, due to higher operational costs. However, the reach in metropolitan areas will be higher, warranting the increased cost.

Once the cost factors are understood, the next step is to allocate the budget across these factors. Game theory can be employed to optimize the budget allocation. It is a branch of mathematics that studies decision-making in conflict situations. In the context of budget allocation, conflict arises due to the tradeoffs between cost factors. By simulating various scenarios, game theory can provide insights into the optimal budget allocation strategy.

However, the budget allocation should not be done in isolation. It should be linked to the marketing objectives. The budget allocation should be such that it maximizes the probability of achieving the marketing objectives. This requires a deep understanding of the relationship between budget allocation and marketing outcomes. Econometric models can be used to quantify this relationship and guide the budget allocation process.

Lastly, it is necessary to track the performance of the campaign and compare it with the objectives. This will provide insights into the effectiveness of the budget allocation and inform future budgeting decisions.

In conclusion, creating a budget for an aerial advertising campaign is a complex process that involves understanding the cost structure of aerial advertising companies, allocating the budget using mathematical models, and aligning the budget with the marketing objectives. A robust budgeting process can enhance the effectiveness of the campaign and ensure optimal use of resources.