You have a firm grasp of the value of digital marketing for moving companies. You know it works, and you can bet that your rivals are boosting their marketing budgets as we speak. After all, that would only be natural, seeing that as many as 60% of businesses have allocated more funds towards their marketing strategies in 2022. Now, as we are nearing the end of this year and are soon to enter a new one, you might be wondering how to boost your marketing budget. If not immediately, then in 2023. And if that is even a reality, how do you present the case to someone above you if you don’t happen to be one of the decision-makers?
We aren’t going to lie; you are in a tough spot. Nevertheless, it might be possible to get the much-needed budget increase. Allow us to show you precisely how!
The best ways to boost your marketing budget
We understand how uncomfortable it may be to ask for extra money. Especially if your marketing efforts this year were less fruitful than you had intended. But that shouldn’t stop you from trying. After all, who knows? The people with a say in your budget may be surprisingly generous if you make a reasonable request supported by data.
#1 Focus on what was done right
The significance of the results shouldn’t be neglected. You should seek extra funding in the areas where you have seen the most success this year and use that to propel you to greater heights. If your return on investment is high enough, you might be handed more cash.
Nevertheless, even if your project wasn’t as profitable as you initially hoped, don’t be afraid to disclose the data, discuss what you learned, and outline how you’ll adapt your approach. Believe it or not, many people appreciate honesty and well-made plans, meaning a budget increase could still be on the table.
#2 Develop a strategy
You cannot expect your moving company marketing efforts, or any marketing efforts, for that matter, to prove successful if you don’t have a clear picture of how you will proceed. You cannot expect additional funds without a solid strategy. Unfortunately, research shows that just about 40% of marketers have a written plan for measuring the performance of their endeavors. To convince your superiors to increase your marketing budget so you may, for example, target a different demographic, you should outline a well-thought-out plan that includes specific objective and quantifiable metrics. You may also want to ask yourself the following questions (and prepare answers to them), as others might ask you the same:
- What kind of marketing approach would justify a boost in finances?
- What research (if any) has been done to support the said approach?
- In what ways (both qualitative and quantitative) do you anticipate investing additional money will pay off?
Also, let’s not forget that it is essential to describe how you intend to make optimal use of available resources.
#3 Present unique ideas
One of the sure ways to boost your marketing budget is to bring fresh ideas to the table. However, if you’re constantly immersed in your brand, it might not be easy to objectively step back and evaluate your approach. Because of this, you could fail to produce fantastic, new ideas that could significantly impact marketing, SEO for movers, and others. And the execution of such ideas costing more money would be the least of your problems.
But even if the inspiration is lacking and you’ve got nothing new to present, that doesn’t mean this is the end of the line for you. If you happen to be collaborating with another agency, you might as well pick their brains for novelties. Get them to share basic estimates, ideas, and strategies that you will further disclose to your superiors. Then, you may all get the budget to turn them into reality!
#4 Turn to other departments
Making the most of limited resources often requires “sharing” with others. That being said, getting additional funding for marketing may depend on your pitching an initiative or program that helps out another division. For instance, responsive web design and SEO are closely related and require the joint work of both the marketing and development departments. By combining their resources, mutual satisfaction is a guarantee.
#5 Analyze the competition
There’s more to digital marketing than just going along with the current trends. You shouldn’t feel obligated to follow suit just because your competitors are doing it. On the other hand, you may utilize this to your advantage. If they are already engaging in a strategy, you’ve been considering, especially if they are finding great success with it!
Looking at direct rivals and demonstrating how they are leaving your business in the dust may be the deciding factor in persuading leadership to grant you additional cash. Furthermore, this might be the time to do a new competitive analysis if you haven’t done one.
If ways to boost your marketing budget don’t work, make the most of the existing funds
Despite the above ways to boost your marketing budget working in most cases, the chance of not getting the increase still exists. If you get ”no” for an answer, you’ll have to learn to work with what you have. Recognize what works and doesn’t, and adapt your strategies. And in case you feel helpless, getting a third opinion is always a good idea. Be that someone within your company or a complete outsider.