CFO’s Perspective: The ROI of Increased B2B Advertising Budget In December
Functioning as an outsourced CFO for many businesses, I don’t weigh in all that often on marketing or advertising strategy. There is one significant exception, and that is particularly when an advertising or marketing method has a formulaic outcome…Put in X dollars into this advertising machine and out pops Y dollars in sales. Many companies are producing more opportunities for formulaic advertising that result in lead-generation through pay-per-click, banner advertisements, interactive and engaging social media, and the like.
So why would I recommend increasing your company’s spend in December? Especially if your business provides business-to-business services, consider these three reasons for extra holiday-time spend:
One of Christmas Season’s Greatest Gifts = More Time
With the hustle and bustle of preparing for Christmas, surely there isn’t time to spare. But, stop and think about it. Once the presents are opened and dinner is finished, what do people do? The kids turn to their toys, teenagers to their games, and adults often turn to solving some of the problems that they haven’t had time to visit.
Many business owners experience a slow-down in both closing and managing their accounts during the holiday season, so they turn their attention to reviewing ways to improve their business. They’ll be searching online for solution like yours, and you may just be able to catch their eye if you’ve upped your advertising spend.
New Year’s Resolutions Aren’t Just Personal
No matter how many years we fail at setting and keeping goals, the idea of starting anew is just too hard to pass up. Most of the business owners that I know not only set personal goals but are also taking the time to set new goals for their business as well—and often time those new goals include hiring new help, utilizing new services, and/or taking their company to the next level with services that you may provide.
By advertising stronger in December you increase your chances that these owners have seen your advertisements and have you in mind when they come around to setting their goals and acting on them.
Getting in the door early in the new year is a must in some organizations—especially if your service carries with it a hefty price tag. Budgets are fatter than ever and department heads are eager to find good opportunities to improve their organizations.
The exact methods you use to advertise will be unique to your business and your industry. What I recommend is finding the formula for advertising that works for you and spend a little extra time and money in December putting it to good use. If you need any help breaking down your marketing campaigns and the ROI associated with them, we’d be happy to help.