As the deadline nears for the fiscal year submission period for budgeting public relations and marketing efforts, business executives are likely focused on two questions: What areas do I need to focus on and how will I know if my efforts are successful?
As your public relations experience has taught you, reaching potential clients requires outreach: digital, event-driven, consistent presence. Getting noticed and staying top of mind are components of every business or organization.
With maximizing visibility in mind, here are five public relations and marketing investment areas to plan for as you review your budget allocations:
1. Videography
In today's digital age, video is a powerful tool for storytelling and branding. Consider budgeting for professional videography services to create high quality content for a variety of purposes, including social media marketing, website features and event promotion.
2. Travel expenses for events
If your organization attends trade shows, conferences or other industry events, be sure to budget for travel expenses for your employees. Be aware of post-pandemic travel increases for airfare, hotel accommodations and meals.
3. Promotional items
Promotional items, such as pens, t-shirts, and coffee mugs, are an ideal way to get your company's name and logo in front of potential customers. When budgeting for promotional items, consider the cost of the items but also be aware of setup fees, shipping and handling and other costs.
4. Social media marketing
Social media is a powerful tool for reaching a large audience with your marketing messages. Consider budgeting for social media marketing services to help you create and manage your social media accounts, as well as to run paid advertising campaigns.
5. Content marketing
Content marketing is a long-term strategy for attracting and engaging customers with valuable content, such as blog posts and infographics. When budgeting for content marketing, consider the cost of creating and distributing content, as well as the cost of promoting your content through social media or continually promoting it through strategic emails with fresh graphics.
Setting benchmarks: The key to successful budgeting
Work with your marketing team to develop a budget that meets your specific needs and goals.
Here are some additional tips for creating a successful public relations and marketing budget:
Set clear goals: What do you want to achieve with your public relations and marketing efforts? Do you want to increase brand awareness, generate leads, or drive sales?
Target your audience: Who are you trying to reach with your public relations and marketing efforts? What are their interests and needs?
Measure your results: How will you measure the success of your public relations and marketing efforts? Does a specific number indicate success? If not, be clear on what metrics indicate progress.
Be flexible: The public relations and marketing landscape is constantly changing, so be prepared to adjust your budget as needed.