29Dec2015

Don’t drop the ball when the ball drops

All marketers are ramping up plans for a successful 2016 business year.  Many businesses have locked their budget spending decisions for 2016 with exception of a few variable expenses.  It is wise to think ahead, build strategies, set goals & create marketing budgets, but it can be a lot to predict for a whole year to come.  What we know to be true is that the market is always changing.  New technology, customer behaviors, competition and many other variables can play into what is needed in the marketing plans for next year.  That’s why setting your marketing plans in advance can be tricky.

 

Be sure to include social media in your marketing budget

Whether you have a fully strategized annual marketing plan with budget details for all types of media or if you are throwing lumps of marketing budget at initiatives as they arise, you need to carve out some extra budget for social media projects this year.  Keep in mind that sometimes, even the most winning campaigns will benefit from social media ad support.  If you are planning contests or campaigns on your social media channels, you may run into incremental costs with app support or visual presentation.  Setting this budget aside in advance can avoid unnecessary financial stress for you organization.

Add larger campaigns to your content calendar

Adding your ‘hero campaigns’ to a content calendar and building supporting marketing plans will keep your social media pages exciting.  You may notice a trickle effect from one campaign to another.  If your customers are following you for information regarding one campaign, chances are they will notice you when you launch future campaigns.

Build in breathing room for reactionary campaigns

Having a neatly planned marketing budget is wonderful for most fixed marketing plans. However, if you know that your organization has a few big annual promotions or campaigns that tend to have last minute changes, you may need to set miscellaneous small budgets aside within each marketing budget.  Additionally you will want to make as many preparations now as possible.  If there are creative needs or projects that you plan to outsource, aim to communicate assignments to your teams 3-6 months in advance.  By doing so, you may avoid rush fees and can lock in marketing and placement prices.  Having many of the larger plans set up in advance, will allow for the reactionary projects (last minute email blasts, Facebook Ad support and banner placements) to take top priority.  Similarly, make sure you have reserved the budget necessary to execute the last minute details of your marketing plans.   You don’t want to fall short here, as layering ad support can largely amplify results.

Allocate budget for a dedicated employee or outsourced assistance

After you have spent the time & resources preparing your annual marketing plans it can be challenging to follow through.  There are bound to be little hiccups along the way, but they shouldn’t stop you from reaching for your goals.  To stay on track you may need to dedicate the responsibilities to an existing employee, a newly hired employee or seek assistance from a partnering social media marketing organization.  First decide how much social media management is worth to your company, and weigh that number against what you are willing to pay.  This will help you decide to hire a dedicated employee or outsource for social media assistance.  (see a la carte social media assistance pricing here)

With the New Year ahead, it is crucial to have a clear vision of where your company plans to go, but understand that market changes could shift your plans at any moment.  Be prepared with a well-planned budget that includes reactionary spend for your marketing and social media needs.

Schedule a social media consultation with MPI Social to take the next step in your marketing plans for 2016.  Read more social media tips at MPI-Social.com/whats-new/ and subscribe to our blog to stay updated on social media tips.

  • 29 Dec, 2015
  • Katrina Parr
  • 0 Comments
  • budget planning, business new year, business plans, marketing, marketing plans, outreach, Social Media,

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