The arrival of colder weather means it’s time to turn up the heat on finalizing your 2014 marketing budgets!
Whether you are writing a brand new marketing plan or tweaking an existing one, the first thing you need to do is examine what worked for your business in 2013.
So, where did the majority of your 2013 sales come from? Were some marketing tactics more successful for specialty products than others? Perhaps social media helped you in Q1, but it was a traditional materials like direct mail that was your ace-in-the-hole for Q3.
You also need to assess if there are any new markets or products that you’ll be break into during the New Year. If you plan to branch out in the coming months, then you’ll have take into consideration the costs for the time and resources it will take to launch new ad campaigns. This would be in addition to the costs to maintain the ones you already have in place.
Also, don’t forget to take into consideration any technology upgrades you anticipate for 2014. Everything from purchasing new smart phone apps, upgrading tablets, adding Cloud technology etc. could impact your overall operating budget for 2014.
Next week, we’ll get more in depth on how to budget your marketing dollars accordingly, and what trends the experts are seeing across the board in plans for 2014.
For this and more advice on creating a marketing budget, please visit our website at http://www.einsteinmg.com