- Category: Business Marketing
Use it, or lose it! That’s the basic doctrine when you are left with unspent marketing budgets at the end of the year. As a marketer, it would not be feasible for you to keep it unspent, as you may see shrinkage in the marketing budget allotted to you in the years to come, which is not a good sign. However, if you have already made up your mind to spend the leftover budget, you must do it productively so that it contributes to the overall growth of your organization.
Here are some of the areas where you can spend your year-end budgets and establish the right foundation to kick start your new year.
1. Invest In a Marketing Automation Platform
If you are left with high amount of funds, probably you should consider investing into a marketing automation platform that will help your marketing and sales teams focus on more important issues. Many times, it becomes difficult for your sales and marketing cadre to keep up with the flow of leads across different marketing channels. Though a marketing automation tool will not completely mechanize your job, it will help you nurture your leads by giving them precise marketing information across all platforms based on their browsing behavior.
2. Investing in a Social Media Automation Platform
Social Media certainly remains one of the best marketing channels where productive investments will not disappoint you. Investing in a social media automation tool will reduce repetitive tasks and enable scheduling of promotions for most demanded content, helping your marketing teams to focus on exploring new and innovative ways of promotion.
But, before going for such tools, you must define your audience as per their needs and priorities. Get assured with the social media platforms your audience uses most and then invest in the relevant tools.
3. SEO Audit
You can get an SEO audit done from a third party agency as they would be able to analyze and understand the loopholes in your SEO strategy as an outsider. Spending your year-end budget on getting an SEO audit done will help you identify the technical issues, broken links and duplicate tags that can be rectified to attract higher and qualitative traffic to your website.
4. Buy a Marketing Database
If your business operates in the B2B segment, the best you can do is buying a marketing database that will power your sales and marketing teams as you start off your new year. You can buy an email, direct mail, telephone database or a combination of these depending on your target market and campaign requirements.
Running an email campaign is both a science and an art. Soliciting business emails can bring wonders to the lead generation process of your business only if you do it right.
5. Conduct Surveys and Research
Surveys and research not only helps in measuring customer satisfaction but also enables improving customer retention.
If you run a B2B business, conducting consumer surveys and studies gives you more credibility and helps you understand the nuances of the market or industry you operate in. It may look like a futile activity to many, but it significantly adds up value to your decision making process and helps in brand building. There is always high demand for industry statistics among the internet users, business owners, investors and students, and if you can provide some useful stats, you surely have an opportunity to attract greater traffic to your website.
6. Run Social Media Paid Campaigns
According to HubSpot, Facebook users see only 2% of organic pages they follow on their feed.
This data gives a clear hint that organic engagement is almost near to end escalating the relevance of paid social media campaigns more than ever. So, what can be better that investing in some paid campaigns on social media for utilizing the year-end unspent budget?
One of the sure shot ways to attract significant amount of traffic to your website is to run paid advertisements in different popular social media sites such as Facebook, LinkedIn, Twitter, YouTube and more. Social media has the highest potential in today’s times, and any investment made to utilize it can bring you great returns.
7. Create Audio-Visual Content
Depending on the products or services that you offer, investing into audio-visual content can be one of the nicest ideas to spend your year-end budgets. You may create a corporate video, or videos to support your marketing campaigns or tutorial videos to guide your customers with relevant information concerning your products, solutions or services.
As per the data pulled by Cisco, “By 2020, 80% of all internet traffic will be driven by online videos”.
One among the major reasons to invest in Audio-Visual content is that the trends governing the marketing empire of 2018 will be video marketing, artificial intelligence, and native advertisement. And not to surprise, video marketing is predicted to play a major role.
8. Conduct Events, Conferences or Get-Together
Conducting business events, get-together, and conferences can prove to be immensely helpful when it comes to brand establishment. Such events give your brand an opportunity to network with business people and to let them know about more about your brand.
If you have still not capitalized your year-end budgets, conducting such events can be really helpful for you.
9. Invest into Training and Development
The best investment one can make is in acquiring knowledge. There are different types of skill enhancement courses that will help your sales and marketing teams brush up their skills and contribute to the best of their abilities. For instance, you may provide soft skills training to your sales team or provide advanced SEO and Google Analytics training to your SEO teams.
If reaching out for a weeklong conference or training event is not feasible for you, you can also go for online courses that are available anytime and anywhere. There are many companies providing online training courses including Coursera, LinkedIn, HubSpot Academy, and many more.
10. Win sales with the Holiday Season
End of the year brings the holiday season – the season of marketing. Undeniably holiday-marketing works most for the B2C industry but the B2B marketers, too, can leverage it if they play with the right moves.
Thus, let this holiday season bring more sales with your B2B marketing campaigns. Incorporate promotional marketing campaigns complementing your services or products. Instead of deals, focus more on interactive content – audio and visual content. You can also send personalized emails or hand-written cards with a genuine ‘thank you’ note to your loyal or long-termed clients. Investing in these ideas can be the best way to utilize your allocated year-end marketing budget.
The above mentioned areas where you can spend your year-end budgets are just a few and you can surely explore numerous other ways to put your budgets to best use. However, the aim should not only be to spend the budgets, but to spend them wisely. Meticulously spending your year-end budgets will reflect positively on the growth of your business in the year to come.