With one month left in 2023, most companies are determining how to spend the remainder of their marketing budget in a way that drives the most conversions with the weeks we have left.
This is a critical decision – not only for how you wrap up 2023 but also for how you set yourself up for success in 2024.
In this article, we’re sharing some of our suggestions for the best ways to spend your 2023 marketing budget to get the best results possible. Plus – you’ll be able to write these investments off as a part of your taxes next year which is music to any business owner’s ears.
Ready to get started? Let’s dive in!
7 Ways To Spend Your Marketing Budget In 2023
As 2023 draws to a close, strategically allocating your remaining marketing budget is crucial not only for ensuring a strong end to the year but also for maximizing tax benefits. Here's a detailed breakdown of seven effective ways to make the most of your marketing budget:
1 - Update Your Website Content
Optimize SEO: Conduct a thorough SEO audit and implement improvements. This includes optimizing meta tags, improving page load speed, and ensuring your website is mobile-friendly. An SEO-optimized website not only enhances user experience but also improves search engine rankings.
Rework Messaging: Analyze and refine your brand messaging to ensure it aligns with current trends and resonates with your target audience. Tailor your content to reflect any recent changes in your business or industry.
2 - Revamp Your Branding
Stay Ahead of Trends: Assess your brand identity and make necessary updates to stay ahead of design trends. In 2023, large fonts and bold colors are in vogue.
Refresh Your Brand Identity: Consider refreshing your logo, color palette, and overall visual identity to maintain a modern and appealing brand image.
3 - Get Ahead Of Your 2024 Marketing Calendar
Strategic Planning: Start planning your 2024 marketing initiatives, including content calendars and email campaigns. Identify key events, promotions, and product launches to ensure a well-organized and cohesive marketing strategy for the upcoming year.
Content Creation: Begin creating content for the first quarter of 2024. This proactive approach allows you to maintain consistency in your marketing efforts and ensures that you are well-prepared for any unexpected challenges. You might spend your budget on graphic design services, updated product photos, new headshots, or template packs for your social media content creation.
4 - Streamline Your Software & Tools
Evaluate Current Software: Review your existing software tools and identify any that are not delivering value or meeting your business needs. Trade budget tools that are not working well for your business anymore and replace them with tools that might be pricier, but ultimately work better. Pro tip: this can include upgrading from the free version of certain tools, so you unlock better features (*ahem* and don’t have to keep stitching together 5-minute looms to give your team feedback – IYKYK).
Take Advantage of Holiday Sales: Many software providers offer discounts and promotions during the holiday season. Use this opportunity to upgrade your existing tools or invest in new solutions at a more cost-effective price.
Uplevel Your WFH Set-Up: Whether you get a new office chair, restock your pens (where do they all go?), or buy giant sticky notes to map out your goals – refreshing your office setup is a great option for spending some budget as 2023 comes to a close.
5 - Boost Social Media Posts
Strategic Boosting: While paid ads may be challenging towards the end of the year, consider strategically boosting select social media posts. Focus on content that has performed well organically and aligns with your overall marketing goals.
Targeted Audiences: Utilize social media platforms' targeting features to reach specific demographics, ensuring your boosted posts reach the most relevant audience. This cost-effective approach can generate increased visibility and engagement.
6 - Pay It Forward
Donate To A Cause You Care About: If there is a cause you care about, you can allocate a percentage of your budget to make a charitable donation.
Buy From Your Business Besties: Support other entrepreneurs in your network by purchasing from them. This could look like supporting a local small business or gifting your friend’s offer/services to someone who needs it!
7 - Invest In Yourself And Your Development
Event Tickets: Plan ahead and buy tickets for a 2024 event you’d like to attend. This is a great opportunity to network and expand your circles in a fun environment.
Online Courses, Communities & Coaching: Allocate a percentage of your budget to joining a community, buying an online course, or enrolling in coaching. As business owners, it’s easy to think of yourself last – but this is important for your overall development and success in 2024.
Wrap Up Your Marketing With Lawson House
By strategically implementing these steps, you can ensure that your marketing budget is optimally utilized, setting the stage for a successful transition into 2024. Not only will these efforts enhance your brand's online presence, but they will also contribute to long-term business growth and success.
We’re accepting a handful of clients to wrap up the 2023 calendar year. If you’d like to work with us to implement these marketing strategies – simply schedule a call. We’d love to work with you!
