How Effective Is Your Marketing Budget?
Tuesday 4th January 2022
Here at Reading Leaflet Delivery, we know that getting the best value for money is essential when you decide on your marketing budget. Yet it's a bit of a chicken and egg situation. After all, you can set a budget, but your ideas may be way off fitting within it. Alternatively, you budget to meet the intent and quickly find that the funding required spirals.
The solution is to plan and prepare appropriately to make the most of money and ideas. With that in mind, we look at how effective your marketing budget should be.
Making an annual plan and budget allocation will give you peace of mind throughout the year; it's safer than short term solutions. A yearly program that optimises any size marketing budget should consider at the outset various items below to build a strategy that avoids rushed and potentially costly mistakes.
Consider and cost new designs
No longer is it acceptable to churn out the same old advertising in the same way. Yearly marketing budgets should include time and money considering new designs, marketing channels and concepts. Each year, budget for maximising new advertising channels and new designs that develop marketing opportunities built on lessons learned and new opportunities.
Use multiple marketing channels
Customers and potential customers identify and access the services through various channels, so it is essential to consider this when budgeting. If you haven't before, now is the time to use multiple marketing channels. Social media is vital; it is your here-and-now voice that many generations use, and it can draw immediate attention to other media campaigns. Yet, there are many people for whom social media is a no go, or they don't think to look without a prod. This is why door drop marketing benefits are a huge plus when integrated into media campaigns. Even on a small budget, a leaflet dropped directly into the home of your target customers is a great way to be noticed.
We aren't just saying that the numbers stack up because it's what we do. 83% of door drops are opened, read, filed or passed onto an interested friend, which means you will be noticed, and they are one of the greater value for money advertising streams.
Improve content marketing ROI
Return on investment is something every marketing plan should seek to achieve, but it's not monetary return you'll get, at least not immediately. By increasing brand and customer awareness with each campaign, you are building for the future and may benefit from ROI beyond the immediate aftermath of the campaign. Your marketing budget should seek to look at success on a holistic basis as well as how each campaign contributes to revenue growth.
It's essential to have a strategy when using multiple marketing mediums. Your brand and approach must align and be easily recognisable across all platforms—budget for help to get it right if you need advice and support.
Plan for new opportunities
Finally, make sure to build in a contingency and allow for some flexibility within your annual marketing budget that will allow for follow-ups and small adjustments. You might happen upon a great opportunity to market your business that you weren't expecting. Passing these up due to budget might not always be the best choice.
Interested in learning more about how to flex your marketing muscles and take on all opportunities open to you? Get in touch today to see how our highly affordable and effective door drops design, printing and distribution services can enhance all your other marketing activities and why they should form a part of your marketing plan this new year.
Photo by Kelly Sikkema on Unsplash