Tag: marketing budget

Creating a marketing budget for the upcoming financial year involves strategic planning, foresight, and a clear understanding of both past performance and future goals.

This blog will provide a comprehensive guide to marketers and business leaders on how to effectively allocate resources to maximise impact in the 2024/’25 financial year.

Marketing is critical for any enterprise, and an effective marketing strategy requires a well-balanced budget. When allocating funds for marketing, companies face a challenging decision between traditional and digital marketing.

 

Marketing ensures greater success for your business goals and has always been an important aspect for companies wishing to excel in their industry. Small businesses generally have less staff, fewer resources, and a smaller budget which means reducing costs in areas where possible is essential.

There is no doubt more pressure on reducing budget due to the constant loom of COVID-19 over our heads. However, there are many ways to successfully market your small business that helps you outperform giants giving much more effective ROI. Here we have provided you with a quick marketing cheat sheet to running a cost-effect marketing strategy to get your business flourishing.

Lead generation through sharing content on social media has grown in importance over the past few years. Many marketers have caught onto this concept and have used it to the fullest potential by sharing news, blogs, customer service information, and tips...with a twist. The thought up images and carefully curated canva posts that marketers are making are becoming more and more like a subtle sales pitch. In the past, seeing any promotional components in posts would turn off potential leads, however, because of this shift and slow, easy transition, it is a new norm.

When evaluating the marketing budget of our company, it became apparent that printing was a significant cost. As such, when it came to printing our custom published marketing magazine, it was time to do things a little differently. 

At first, my design department sourced quotes. They ranged from $18,000 up to $33,000 for exactly the same product. I was fine with paying $18,000 but not so fine to find my normal printers quotation significantly higher at $33,000. It literally had me stopping in my tracks and evaluating what I was doing and whether it was worth it.

Then, as if someone was looking down on me, a company was referred to Marketing Eye to do some of their marketing. It was an online print automation company that specialises in reducing the cost of printing so that marketing departments can reinvest the savings back into their marketing campaigns. I personally worked on this account because I was interested in seeing what they did differently. In the end, I became as passionate about their business, as they became of ours. On top of that, they saved us 45% of our printing costs.

Today, I thought I would give the founder of this business, Mark Alioto a call to talk about what they do differently at ECM.