7 Ways to Spend Your End of Year Budget
How to Make the Most Out of Your Marketing Budget
At the end of the year, some small businesses are looking for a way to minimize tax liability after profits ended up being more than they planned for. Some companies give out bonuses, others let it roll over, while some choose to use this extra profit to make some smart marketing decisions and investments. Here’s a few ways you can consider making the most of your extra profit.
1. Conduct an SEO Audit
Do you know how your website is currently performing in terms of Search Engines? An SEO Audit and Onsite optimization is a great way to check out your current rankings and give your site a little boost that’ll be showing returns as you enter the new year.
At efelle, we offer an SEO Audit that gives your team thousands of keywords and opportunities, while also implementing the optimization on your own site. We make recommendations on further opportunities that you can move forward with, or just take into account.
2. Book Conferences for the Following Year
If you know your team will be attending a conference the following year, take the time to see if there are early bird specials you could be taking advantage of. Getting conferences booked early can save money and save you work in the new year.
3. Get New Headshots
When was the last time you had team photos taken? Updating headshots and your team photos is a great way to update your site, marketing collateral, and get some great content for your social media. Book a photo shoot so you can start the new year with fresh photos!
4. Create Video for Testimonials & Culture
Videos are becoming more and more popular in the digital space - whether it’s helpful videos, testimonials, or culture videos, content in video form is growing. Consider creating video for your business based on your goals - if it’s to recruit and/or increase your brand image, try out a culture video. If your goal is to bring in new leads, consider a testimonial
5. Pre-Pay for Tools
If your team uses a set of specific tools every year to help you manage, see if there is a discount to pay ahead of time - whether it’s website hosting, a project management tool like Basecamp, or even a Quickbooks subscription. See if you’re able to prepay for any of these with your extra profit and minimize your monthly payments for the upcoming year.
6. Purchase New (or used) Equipment
Are there pieces of your business that need or could use an upgrade? Whether it’s old computers, printers, or even larger construction equipment, consider the state of some of your equipment and see if something new could be beneficial in your office.
7. A Website Redesign
We had to mention it… when was the last time your site was updated? The average website lasts 2-5 years, depending on the design and technology it was built on. Think about whether your current website is garnering the traffic, conversions, and representing your brand they way you hoped.
Bonus: Contribute to charity
At this time of year, consider contributing to charity. Not only can it help you with a tax deduction, it can also engage your team in a meaningful activity and help you fulfill the goal of being socially responsible.
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