3 Tips For Your Marketing Budget

There are two reasons that many businesses find this time of year crazy.  

The first, and most obvious, is the holiday shopping rush that is truly in full swing.  Whether you are a retail business or not, you know this time of year can really add excitement and stress to the atmosphere.  

The second reason your business might be busy right now is that budgeting is being done as well.  Many businesses and organizations are knee deep in getting the 2014 budget together.  It can be a stressful and overwhelming project...and you want to get it right.  So we want to give you some tips on making sure your marketing budget is in line with the market place.  

1)  Social Media:  Yes...you should be playing in the Social Media field.  As we move into 2014, you really need to realize that whether you like it or not, having a real and thought out social media presence is crucial.  This does NOT just mean posting a few pictures to Facebook and calling it a day.  You need to have a thought out strategy and budget for it.  

2)  Reconsider Budget Numbers:  Just because you have allocated certain numbers to certain media doesn't mean you should "copy and paste" those this year.  The world is changing extremely fast and you need to consider that when you allocate funds for the coming year.  Don't throw money into an abandoned media just because you always have.  Look at moving those dollars where they can be most effectively used.

3)  Don't Sleep On Promo:  That's right.  The interesting thing about measuring marketing ROI is that one of the oldest advertising media is still one of the most effective.  Don't take our word for it.  Studies show that advertiser recall (and isn't that one of the real goals here?) of those that receive a promotional product is 89%!  Nearly 9 in 10 people who receive a promotional product remember that advertiser.  Say that out loud.  Now ask yourself what your recall is on other forms of advertising. 

Creating that marketing budget is a huge process.  It's about forecasting the future...and that is always tough.  But with a little forethought, you can get ready to make 2014 the best year yet!