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Phase 3

Phase 3 is an integrated marketing services company which provides solutions across the print and marketing spectrum. We were founded in Atlanta, GA in 2001 and have served corporate and enterprise clients across the country for over 20 years.

Use it or lose it: What you should do if you have unspent marketing budget

By Phase 3
November 10, 2022

 

It's a miracle! The year is coming to an end, and you realize you have money left in your marketing budget. You have no idea how it happened but now is not the time to worry about that. If your company is like most companies, that extra money will not roll over to next year’s budget. Worse yet, it could mean the powers-that-be lower your budget for next year. We can’t let that happen. Now is the time to spend! But don't just spend the budget for the sake of spending it. Being thoughtful and strategic in spending an unplanned marketing budget is essential. Think of it as an investment instead of a spending spree.

 

Why? Because a CMO survey reports that 42% are planning to decrease their marketing spending next year due to inflation. That means you may have less budget next year. So if you've still got money on the table this year, use it to lessen the blow next year.

Here are some ideas to consider:

 

Content Strategy and Campaign Planning

If you haven't planned your marketing campaigns for the year, invest in experts to help you do it now. The more you plan, the more successful you'll be. That includes developing your content strategy based on your company goals, creating a content calendar reflecting your strategy, and then brainstorming marketing campaigns to support it. Review the results of this year's campaigns and tweak your tactics as needed. A strong marketing strategy is the best mix of tactics for your business, including online marketing, direct mail, email marketing, ad campaigns, public relations, traditional marketing, events, and more. If you need help with your planning, our experts can help you develop measurable objectives and determine the best strategies to achieve them.

 

Crisis Communication Plans 

The time to create a crisis communication plan is not during a crisis. That scramble to have a viable and strategic response can cause irreparable damage to your brand if mishandled. The potential for a crisis increases every day. It could be a hurricane, tornado, fire, workplace accident, customer injury, or other events. Use your extra marketing budget to work with an expert public relations team to plan for and respond to various publicity crises proactively. Our PR team can help you evaluate potential threats and build actionable plans to mitigate them should any of them occur. Stop putting out fires and start preventing them. Read our blog on How to Mitigate a PR Disaster for more information on our PR crisis communication process.

 

Refresh Brand Messaging 

Year-end is a great time to review your brand messaging and decide if it needs an update. No brand is set in stone. To stay competitive, your brand should respond to the times. Is it time to make your brand image more current or respond to new market realities? Has your message gotten a little outdated or stale? Have you changed your product mix or added a new customer persona? All of these details are reasons to refresh your brand messaging.

 

Our brand team understands how your brand positioning connects your business to your customer. We can help you create new messaging that grabs attention, deepens loyalty, and creates engagement. We can then assist you in leveraging your brand message to create marketing and advertising campaigns that are consistent, memorable, and profitable this year and for years to come. Still debating? Read this recent blog by our Senior Vice President of Creative Kendra Lively on the importance of a brand refresh.

 

Update Sales Collateral  

Once you've updated your brand messaging, you probably need to refresh and order new sales and marketing collateral like sales kits, banners, window graphics, POS materials, internal signage, or brochures. While you are working with our brand team, we can also be your creative partner in developing custom, curated sales collateral that delivers your new brand message clearly.

 

Our printing capabilities include small- and large-format digital, fabric printing, and variable data printing. We print, finish, kit, and ship projects of any size or quantity in our Atlanta, GA, Dallas, TX, and Fairfield, NJ production facilities. So, start the new year with an updated brand message and visual identity in-store and in public.

 

Stock Up on Event Graphics, Signs, and Giveaways 

If events are a crucial sales strategy for your business, you are probably planning for 2023 events. As you update your brand messaging and sales collateral, don't forget to stock up on event equipment and supplies. This should include your booth graphics and signs, event takeaways, and promotional items. We can help you create the kind of booth attendees are drawn to and takeaways that will never be discarded. So, whether you want a custom banner or sign powerfully designed and produced to elevate your brand or a premium branded promotional item with a quick turnaround, we are here to make you look good.

 

We know how challenging the last couple of years has been for most businesses. As we look forward to 2023, we want to set you up for success. If you are sitting on an unspent 2022 marketing budget, don't let it go to waste. There are so many ways you can use it to ensure a profitable new year. Call us today to brainstorm how we can help you make it happen.