The year is coming to a close and you’re already looking to make 2019 your most effective, efficient, and successful year ever. And much of that success will be driven by marketing. But with marketing, as with most things, it can all come down to proper planning and allocating the right resources. We’ve come up with three factors we think can make a difference in how you approach your 2019 marketing budget.
- Shifting Goals: The go-to for creating next year’s marketing budgets has been to look at what you spent last year. Reliance on historical data may seem reliable, but historical budgets can lead to stagnant results. Instead, shape your marketing budget around your 2019 business goals. Maybe you’re looking to grow revenue. Perhaps you’re shifting focus to a new target demographic. Whatever your goals, it’s best to shape your marketing budget around what it will take to achieve those goals.
- Allocating for Innovation: When planning your 2019 budget, it’s important to keep an ear to the ground regarding industry trends, as well as new developments or innovations. For example, have you allocated a portion of your budget to acquire more 1st party data to fuel your marketing engine? If not, it’s time to start.
- Partnerships: Technology is crucial in today’s marketing world. However, nothing can replace solid partnerships with people who understand your goals and are passionate about bringing them to life with you. Your organization is constantly using new and better technology to reach potential markets – do you have the right staff and outside partners to support this area of growth for your organization?
As you look towards 2019, keep these factors in mind and put them into action as you work with your staff, vendors, and other strategic partners. If you’d like to hear more about these topics in-depth, there’s a Red Clay Interactive Subject Matter Expert (SME) ready to give you an answer that’s tailored to your business.
Whether it’s creating full brand strategies for product launches, laser-focused SEO and micro-targeted social programming to support campaigns and activations, or implementing the latest MarTech products to drive deeper relationships with customers and prospects, we’re happy to talk about how to make your 2019 marketing budget successfully work for you the way it has for our clients in 2018.