The Green Sheet Online Edition

November 26, 2023 • Issue 23:11:02

Inspiration

Use all of your 2023 marketing dollars

In November, with U.S. regional tradeshows completed for the year, most of us spend time focusing on what we're thankful for before gearing up for the busy holiday season. Some years, we have much to celebrate in our businesses; other years are more challenging. Some acquirers are tightening their belts after a lackluster year; others are banking the proceeds from better than anticipated sales, passing out bonuses to staff and looking to spend unused marketing dollars before January 1 rolls around.

What would you do if you had extra marketing dollars to spend right now? There is no single correct answer, of course. But here are some possible ways to make good use of extra marketing dollars before year's end:

• Prepay for advertising: Purchase advertising space or media placements now to lock in 2023 rates for next year's campaigns and secure prime placements for your messaging.
• Social media advertising: Use the leftover budget to run targeted social media advertising campaigns on Facebook, Instagram, LinkedIn or other platforms where your customers hang out. This can help you reach a specific segment to generate new business leads and connect with potential partners.
• Invest in SEO and PPC: In tandem with your advertising campaigns, allocate funds to improve the quality and effectiveness of your search engine optimization (SEO) or pay-per-click (PPC) advertising. This will likely enhance your online visibility and have a long-term positive impact on your brand.
• Upgrade marketing tools and software: Consider investing in marketing tools or software that can improve your team's efficiency and effectiveness. This might include upgrading your marketing automation platform, analytics tools or CRM system. There are, after all, CRMs designed specifically for acquirers.
• Invest in training and development: Consider providing training and professional development opportunities for your marketing team. This can help them stay up-to-date with the latest industry trends and improve their skills.
• Explore new sponsorships and partnerships: Research opportunities in the coming year for sponsorships or partnerships with relevant events, conferences or influencers in payments or in the vertical industries you target. Such collaborations can help you reach a wider audience and enhance your brand's reputation.
• Invest in content creation: Consider creating high-quality content such as blog posts, videos, infographics or ebooks that can be used for your content marketing efforts next year. Starting the new year with spot-on content at the ready can help you immediately attract and engage your target audience.
• Year-end review and planning: Use some of the budget to conduct a comprehensive review of your current marketing strategies and performance. You probably already conduct this type of review, but a little extra resource allocated to do a more thorough analysis can help you identify key areas for improvement and develop a stellar marketing plan for 2024.
• Give it away: Consider making charitable donations or sponsoring community events as a way to give back to the community and enhance your brand's reputation.

Some of these activities can be done on a small budget and in just one day's time. And the efforts could pay dividends for years to come.

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