Budgeting for Promotional Products All Year Long
Budgeting for year-round brand impressions.
It’s the fourth quarter. You’re down, which means you’ve got to do something. Can you dig deep enough to come up with a win? No, this isn’t a sports post. It’s about an issue faced by countless procurement professionals and office managers everywhere – budgeting.
Your budget affects every aspect of your organization, not least of which is your marketing and promotional products efforts. Here’s a look at a few strategies you can take to ensure your organization can keep on reaping the rewards of brand impressions all year long.
Make a plan.
This should be obvious – you can’t accurately allocate resources without knowing what you have on the calendar. Do you have tradeshows on the docket? What about other large customer-facing events? What about your workforce? Do you have to outfit your staff? Do your best to identify where you’re going to spend money this year, then make a plan to pay for everything.
Account for the unexpected.
No matter how well you planned, there’s always something unexpected that can happen when budgeting. Maybe you get an opportunity to pitch a new client and want to help sweeten the deal with branded golf bags. Perhaps a sponsorship opportunity that’s too good to pass up presents itself and you find yourself in need of several dozen rally towels for a local sports team. Make sure you’ve left enough wiggle room in your budget to pay for whatever unexpected opportunities may arise.
Don’t forget about existing relationships.
Whether it’s recognizing top performers within your organization, saying thank you to a loyal customer, or items for team-building activities, promotional products are a great way to maintain existing relationships. Make sure you have saved enough room in your budget to pay for these things too.
Budgeting is never easy, but one area where it’s never a good idea to cut is marketing. By using a bit of foresight and planning, you can ensure you have the money to afford all of your efforts, including promotional products that will create tons of impressions all year long.