While I'll be the first to recommend you keep a close on eye on your business finances, this isn't a post about watching the marketing pennies. Of course, you should be setting objectives for your marketing activities and monitoring results to make sure you've got a return on your investment but...
...the best way to get the most from your marketing budget is not about keeping an eye on the spreadsheets, it's about keeping your eye on the ball and making sure that you don't miss any opportunity to squeeze everylast drop of value out of the money you spend.
Exhibiting at an event? Think about:
- Inviting your customers and prospects to attend so they can see you in action;
- Letting people know you'll be there on your web site/blog/Twitter/newsletter/etc.;
- Contacting people you know will be attending (can you get a delegate list in advance) and inviting them to visit your stand;
- Making an offer to delegates through the event organiser;
- Making a memorable impact on the day;
- Having a fool-proof system to collect and categorise contact details gained at the event;
- Definitely following up those leads as soon as possible;
- Blogging about your experience.
If you're taking out advertising, you could/should:
- Make a specific offer with a clear call to action and cut-off date;
- Include a code so that you can track enquiries to that specific advert;
- Ensure your contact details are obvious;
- See if the publication will include some editorial as a bonus for you;
- Perhaps run a competition alongside - something that involves them going to your web site to find out more information would be very canny.
What would you do to squeeze further value out of that competition?
Squeezing out that extra value rarely means incurring extra cost. It sometimes means find a little extra time. What it does mean is being a great opportunity spotter and putting in the creative thought to find every last way to maximise the opportunity - and, of course, your budget.
For more advice on making the most of a marketing budget, take a look at our white paper, "Marketing in tighter times".
