FIVE WAYS YOUR BUDGET CAN GO FURTHER by Steve Brennan
Co-founder and CEO, Bespoke
In the last week three clients asked us questions about budgets for the year ahead. It’s great they can speak with us openly as they allocate funds to different marketing priorities.
It makes it easier for us to help them deliver on their targets for the year ahead. Yet we still see most clients set budgets internally and without any consultation.
And in many cases during the course of the year they realise they can’t quite achieve the goals they’d set as some budget has already been wasted in less- profitable areas.
To help you avoid these issues here are five ways your marketing budget can go further:
1. Invest in assets. Create marketing assets you can promote repeatedly. Videos, free downloads, websites, interactive tools and brand guidelines are all examples of one-off investments that generate returns year after year.
2. Apply the 80/20 rule. If you’re investing time and money to develop a marketing asset, allocate at least 4x that amount to promote it - really sweat the asset before you spend on creating another.
3. Conversion optimisation. If you’ve invested in a website, don’t settle for the leads your version 1 generates. Hire someone to go deep on the data and make changes that get it delivering more every month.
4. Buy the cheapest traffic. Most businesses just repeat tactics that have always worked, even when new tactics are cheaper. For example, even if Google Ads have always worked, drop them and switch to Facebook Ads if those leads are cheaper.
5. Challenge your agency. Ask them a simple question: “If this were your budget how would you allocate it to get the maximum possible return?”
COMPANIES WITH SWAG ARE THE
MOST MEMORABLE by Paul Gilbraith
Owner, Gilbraith Merchandising
Swag, freebies and promotional merchandise comes in many forms: pens, water bottles, USB sticks, clothing, giant flamingoes. The options are endless.
We’re all aware of it and, so the research shows, we’re all influenced by it.
The first ever promotional T-shirt hyped The Wizard of Oz. Heard of the film? Of course! Not entirely because of the giveaways, but it all helps.
It’s effective: A recent study found that more than 70 per cent of people can recall the name of a company that gave them a freebie within the last year. Only half could name the company from a particular advert that same week.
Freebies get results: 85 per cent of people do business with a company after receiving their promotional merchandise.
Strategy is key, getting the right products in the hands of the right people.
Promotional merchandise is
ideal for any situation where you have a fleeting chance to make a lasting impression. Trade shows, for example, where your short encounter may be over but your free gift remains on their desk, wall, head, garden...
It can also be used as an inexpensive way to recognise existing customers (drop a freebie in with their latest order), employees or other friends of your business. They get a bonus something-for-nothing, in return you get free advertising.
Next, the item itself. I recommend something useful. These are the items kept the longest and have the biggest impact.
That’s why our neck buffs make such a great gift: they’re especially useful during the pandemic and cold weather, and with our reader offer they’re available at an excellent price.
Get in touch to find out more about our offer, or to discuss how we can help you make a memorable and lasting impression.
LANCASHIREBUSINESSVIEW.CO.UK
PROMOTIONAL MERCHANDISE
www.gilbraithmerchandising.com
READER OFFER
LBV
29
MARKETING
CUSTOM BRANDED MULTI FUNCTION NECK BUFF
WORK - SPORTS - OUTDOORS
CUSTOM DESIGNED with your logo / FULL COLOUR PRINT / FREE design / Free visual / FREE delivery
the perfect promotional give away QTY 100 250 500 1000
PRICE 3.95 3.75 3.55 3.35 protect your staff and customers
£3.35 PRICE FROM +VAT EACH
0800 44 80591 email us
info@gilbraithmerchandising.com or visit
www.gilbraithmerchandising.com
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