How You Can Spend Your End-of-Year Budget Effectively
It’s hard to believe we’re already nearing the end of 2022. If you have remaining funds you need to spend this year—you’re not alone. When it comes to year-end budget spending, many don’t know where to start, which often results in investing in the wrong thing(s). However, there are ways to spend your remaining funds effectively to help grow your business.
There’s still plenty of time to work on last-minute initiatives to close the year, and you can also plan ahead and start next year’s business goals now. With so many options to effectively invest in your business, here are some ways you can make the most of your remaining budget.
Stock Up on Print Essentials
Print is a necessity, and you can start investing your remaining funds and stocking up now. Make sure you have plenty of branded stationary and business cards for your team, so you’re ready for the new year. Boost your marketing efforts for the remainder of the year and the start of next year with print collateral to give your customers and prospects something tangible they can take with them. Want to plan ahead for special outreach opportunities? Consider print items that might be used for initiatives like onboarding or special gift bundle promotions. You can also take advantage of a direct mail campaign to get in touch with prospects at the start of next year when they have new budgets to spend.
(Re)Brand Your Space & Fleet
A branded space is an opportunity to tell others what you want them to understand about you. It allows your customers and employees to interact with your brand. Whether you need new signage or want to refresh what you already have, your end-of-year budget can help you create a memorable customer experience. Effective outdoor signage will encourage your customers and prospects to walk in the door, while effective indoor signage will keep them coming back. Don’t forget about your fleet. With your vehicle(s) off the road during the cold-weather months, it’s the perfect time to consider vinyl decals or a vehicle wrap.
Spend on Promo & Apparel Trends
With the brisk autumn air swooping in, it’s clear that cold weather is upon us. Use your remaining spend for seasonal customer gifts and weather-appropriate attire to outfit your team. Plan ahead for next year’s events by stocking up on trendy swag items or consider items you need for promotional initiatives, such as recruitment bundles, retreat kits, or employee appreciation. As we continue to face challenges from the supply chain, ordering your items early will help you avoid delivery delays and stock shortages.
Update Your Marketing Strategy
With a new year comes a new (or updated) marketing strategy. Invest your end-of-year funds in working with a marketing agency team to help focus your marketing efforts for next year to drive results and maximize your ROI. They can work with you to boost your presence in the digital space using search engine optimization (SEO), pay-per-click (PPC), social media platforms, web content such as blogs, and email marketing opportunities. It’s also the perfect time to work on a new website or refresh a current one. Optimize your website to help you drive conversions. Also, consider new tools and updating functionality to help your site rank higher and be more beneficial to customers and prospects.
It can be challenging to know how to best invest your year-end funds. However, Strategic Factory has a full team of experts that can help you strategize and spend your remaining funds effectively to drive results and grow your business. We offer all of the above services and can customize them to help you meet your goals for next year. Learn more about how we can help you take advantage of your remaining budget by viewing our Booklet of Services. Whether you’re looking to finalize end-of-year initiatives or want to be prepared for the start of the new year, contact our experts for the support you need.