TLDR:
5 Minutes
- A marketing budget that includes print promotions is a critical part of creating an image and getting your business name out there. The more you put into a print marketing plan, the more you will get out of it.
- If you have data from the previous year, take a look at your year’s sales. Calculate the total amount of sales, then use that figure to help you determine how much to spend on promoting your business in the coming year.
- Create or review your marketing objectives, then research which activities will best help you reach those objectives. Talk to customers about how they heard about your business and check out competitors’ advertising methods to help you determine what type of activities match your objectives.
- Once you create a budget, you’ll want to make the most of the funds you set aside. Based on your budget, follow the three different types of budgets to guide you: basic marketing budget, medium marketing budget and a full marketing budget.
- Some examples of ways to include print products in your promotional plan include banners, custom signs, vehicle wraps, window graphics, wall murals and more.
As 2018 draws to a close, it’s time to look ahead to 2019 and begin creating your marketing budget. Making the coming year one of wonderful growth requires a strategy that includes adequate funds and using them efficiently. Here are some ways to create a marketing budget, and why it should include print promotions.
Why Create a Marketing Budget?
Word of mouth is a great advertising tool, but relying on it exclusively is not a sustainable long-term plan. A marketing budget that includes print promotions is a critical part of creating an image and getting your business name out there. The more you put into a print marketing plan, the more you will get out of it.
Use Sales Data to Create a Budget
One of the easiest ways to make a budget is by using sales data. If you have data from the previous year, take a look at your year’s sales. Calculate the total amount of sales, then use that figure to help you determine how much to spend on promoting your business in the coming year. You may want to use the same budget as last year, but increasing the budget is usually better if you’re looking to boost sales.
If you don’t have sales data available, you can try forecasting sales for the coming year and choosing a percentage of what you hope to make for marketing. Plan to use a minimum of 10 percent of projected sales on promoting your business.
Create an Objective-Based Budget
Determining your business objectives is an important part of budgeting. Create or review your marketing objectives, then research which activities will best help you reach those objectives. Talk to customers about how they heard about your products or services and check out competitors’ advertising methods to help you determine what type of activities match your objectives. Figure out the cost of the activities and use that information to create a budget.
Making the Most of Your Marketing Budget
Once you create a budget, you’ll want to make the most of the funds you set aside. Here are some general guidelines for different budgets:
- Basic marketing budget – Start with the three B’s: business cards, banners and brochures.
- Medium marketing budget – Increase the three B’s or add flyers and postcards to the mix.
- Full marketing budget – Add custom options and additional products to make your business stand out.
Include Print Promotions in Your Budget
Print promotions are an important part of a marketing plan; they are a great way to get your company’s brand in front of potential customers. At Pixus, we have valuable knowledge about which products tend to work well in your area and can help you choose. Some examples of ways to include print products in your promotional plan include banners, custom signs, vehicle wraps, window graphics, wall murals and more.
- Banners are easy to use and can promote your business or special events.
- Vehicle wraps turn company cars, trucks and vans into mobile advertising that promotes your business name out wherever you go.
- Window graphics display products, promotions and other business information to catch the eye of potential customers.
- Site signage ensures that potential customers can find and identify your business with ease.
These are just a few of the ways print promotions can be a valuable part of your overall marketing strategy. Develop a promotional budget for 2019 that includes print graphics to help your business grow. Need help figuring out what products best fit your promotion vision? Allow us to help you bring engaging visuals to your business and contact us here.
Read Time: 3.5 minutes
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