{"id":78463,"date":"2016-10-20T11:00:00","date_gmt":"2016-10-20T10:00:00","guid":{"rendered":"http:\/\/www.smartinsights.com\/?p=78463"},"modified":"2016-10-20T08:11:13","modified_gmt":"2016-10-20T07:11:13","slug":"adapt-marketing-budget-seasonal-variations","status":"publish","type":"post","link":"https:\/\/www.smartinsights.com\/managing-digital-marketing\/planning-budgeting\/adapt-marketing-budget-seasonal-variations\/","title":{"rendered":"How to adapt your marketing budget to seasonal variations"},"content":{"rendered":"

Bending The Budget: Adapting Your Marketing Budget To The Season<\/h2>\n

As marketing professionals, we\u2019re beholden to the seasons \u2013 some times of year are simply better for sales than others. For this reason alone, it doesn\u2019t make sense to evenly distribute your marketing budget across the year, but there are other relevant reasons you should be budgeting seasonally as well. When we pay attention to our target audience and the needs our products fulfill, we can make smarter decisions about marketing budget allocations.<\/p>\n

Identifying Your Strategies<\/h3>\n

One thing you\u2019ll need to take into consideration when breaking down your digital marketing budget each season will be the question of format. There are many different ways to build your digital presence, but they come with varied expenses.<\/p>\n

Search ads \u2013 the ads that appear on search engines<\/a> when someone enters relevant terms \u2013 often take up about the same portion of the average digital marketing budget as digital display ads. If you find these are an especially high conversion source for your business, however, you may want to increase your spending in this sector. The same can be said of any part of your marketing strategy.<\/p>\n

Peak Season Preferences<\/h3>\n

Most companies spend the bulk of their marketing budgets during peak sales periods for a few reasons. First, purchasing rates are up during this time and people are looking to buy, so even if you\u2019re spending profligately to attract the most customers during this period, you company is still likely to post a substantial profit. There\u2019s no reason to hold back spending when you know that revenues will more than cover
\n<\/a>it.<\/p>\n

You might even consider launching your new ads early<\/a> to beat your competitors. This is why you\u2019ll hear people say that the holiday season starts earlier every year. Retailers push the season forward to get ahead of other companies trying to claim the same share of the market.<\/p>\n

The other reason your company should spend more during peak sales seasons is because advertising space typically costs more during these times. Consider Super Bowl commercials as an example \u2013 it costs many times as much to show a commercial during this few hours span than during any other timeslot. The viewership and attention your ad will get from this positioning, however, makes it a sensible investment.<\/p>\n

Remember, not all businesses benefit from the same peak seasons. While most retail outlets will see a lag during spring and summer when there are fewer commercial holidays, some \u2013 a florist, for example \u2013 might see early peaks at Valentine\u2019s Day<\/a> and Mother\u2019s Day. Others will experience a boost with the school year or as the fiscal quarters shift. Tune in to when sales are best for your business for the most effective budget distribution.<\/p>\n

Off-Season Strategies<\/h3>\n

During periods of lower sales levels, you have a few options in terms of your digital marketing budget. One great thing you can do during this time is spend more of your budget developing new marketing strategies, rather than trying to sell during a saturated or off-peak market. In order to do this effectively, however, you\u2019ll need to have a good, long-term record about prior marketing strategies.<\/p>\n

Start by looking at what your typical website and advertising stats look like during this sales period across the last few years. How much web traffic<\/a> do you normally see during the third quarter, for example? Look at your third quarter over a few years and use that to judge any new strategies you might develop. If you can produce an increase in sales during a time when they normally lag, you may have a powerhouse marketing strategy on your hands for peak season.<\/p>\n

Consider the Professionals<\/h3>\n

If you think that you\u2019re missing out on some real sales during the slow season \u2013 that there\u2019s a market, but it just isn\u2019t on people\u2019s minds \u2013 then you may want to allocate some of your off-peak marketing budget for hiring professional consulting services<\/a>. SEO specialists can really help draw attention to your company when you fall out of the spotlight.<\/p>\n

When you\u2019re in the process of developing new promotions for peak-season, hiring professionals can also take some of the pressure off you, as well. You can also take this time to prepare for the sales season by updating your website<\/a> and handling other in-house logistics while the pros wrangle your off-season social media presence.<\/p>\n

Boost Your Analytics<\/h3>\n

In some cases, it may be clear from past years and from competitors\u2019 performances that you\u2019re in a low sales season with few prospects in sight. That\u2019s okay! During these seasons \u2013 summer and shortly post-holidays, for many businesses \u2013 spend time working on your marketing analytics. Today, some companies have data specialists who spend all year doing this work, but if you develop a strong system within your marketing department during the off-months, you may not need these specialists.<\/p>\n

Google Analytics offers valuable data about your content performance, but their stats aren\u2019t the only ones that matter. Instead, you need to find ways to harness data<\/a> about all of your marketing ventures, including the reach of individual social media posts \u2013 something sites like Facebook and Instagram are making easier than ever to measure.<\/p>\n

You\u2019ll also want to make sure you\u2019re keeping a close eye on your site rankings. Your site ranking shouldn\u2019t be falling relative to your competitors during the off-season, even if you aren\u2019t making sales. If you find this is the case, it means they\u2019ve found a market segment that you aren\u2019t reaching or have developed a great new strategy \u2013 keep an eye on what the competition is doing, even when it seems like there\u2019s not much to be done.<\/p>\n

The Last Word on Seasonal Budgets<\/h3>\n

Your company\u2019s digital marketing budget isn\u2019t a monolith, and learning to employ it flexibly is one of the most important things you can do. That includes for costs that aren\u2019t direct marketing expenses, such as research, outside consultations, or site redesigns. If you see some extra money in the budget for an off-peak month, consider how you can use it strategically rather than directly. Budgeting is a long view type of undertaking, so think about where you\u2019re headed, not just where you are.<\/p>\n

\"\" Thanks to Larry Alton for\u00a0sharing his advice and opinions in this post. Larry is an independent business consultant specializing in social media trends, business, and entrepreneurship. Follow him on Twitter<\/a> and LinkedIn.<\/a><\/div>\n

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