Digital marketing managers of both big and small companies feel there is always a shortage of funds. However, there are times when marketers are left with unspent cash. So, what do you do with it now? If you don’t act fast and do not spend wisely it can be just wasted money.
At some point, we all face this situation and with low marketing budgets and unspent money in hand every penny is precious and marketing managers must find strategic ways to spend this remaining marketing budget. So, how can you spend the remaining marketing budget wisely?
Given below are some of the choices to put your surplus money to good use and boost your marketing campaigns to achieve your 2022 marketing goals.
#1 Enhance Your Already Successful Marketing Campaign
One of the most profitable ways to make use of the surplus budget is to use it on a campaign that is already live. You can collaborate with your media team or agency to understand what’s working best. You can have a few variations of your ad creative that are outperforming or you have a certain ad network that is successful. These are opportunities you can look for where you can effectively use some extra budget which will certainly go a long way.
#2 Create an Interactive Campaign and Video
Marketers need to execute interactive campaigns to showcase your company’s creativity and make it memorable for prospects. If you have not tried this before, then you should now. By investing surplus budget for an interactive campaign can be a great way to converse with your audience.
One great benefit of interactive campaigns is they are search-friendly and also mobile-friendly encouraging a longer time on-page. If you have any videos, media, and forms you can insert them on interactive pages. You can consider using interactive content for engagement around new trends, go-to-market strategies, etc.
Online video consumption has increased as viewers wanted to see more videos from brands and businesses. Video is affordable and targeted and for tech companies, getting a prospect to watch your demo video can increase your close rate. If you have not identified this great opportunity yet, with the extra budget now is the time.
#3 Convert Your Audio and Video Content into Blog Posts
Repurposing is one of the most efficient and cost-effective ways to transform the existing audio and video content into text-based content. Blog posts are the easiest to execute as they are on an owned channel.
You can just select from your best-performing webinar, podcast content, or virtual event, then record it and give it to a trusted freelancer or editorial vendor. You will get back long-form, text-based repurposed content which will surely give your website an SEO boost.
#4 Boost Your Most Engaging Organic Social Posts
Marketers need to gather more information about their top-performing posts. Which recent post showed the highest engagement and drove conversions or which post had the highest organic following. By giving a boost to your most engaging organic social posts you are likely to gain more followers and fans. Hence, social media is the perfect place to put your remaining budget to work.
#5 Experiment with Ads In A New Channel
If you haven’t yet experimented with ads in a new channel or social platform. Now is the time as you can use up the extra budget. You can see how your brand performs in a new space. So, start with an ad that is already doing well on another social media platform like the Instagram story ad and give it a jump into TikTok.
#6 Invest in Latest Technology
You can invest in the latest technology that makes your digital marketing strategy easier to execute and expedite your department’s task. So, make sure you do proper research on the right tools that help create high-quality video easier, or photo editing software. Investing in the latest technology can be a game-changer in productivity.
#7 Optimize Your Current Content and SEO Strategy
Investing in the content you already have is a great way to head into the new year as it was reported that monthly blog views and blog leads came from their old posts. We can also see that there are new tactics for SEO and if you haven’t yet got one for yourself then now is the time. Or if you already have one, it’s time to get it updated with your surplus budget.
The surplus budget for digital marketing managers today means the opportunity to make your next year successful in marketing. You go through different phases like at times there’s just not enough budget and other times it is extra. Nevertheless, you need to carefully weigh the pros and cons to determine which choice is best for your department’s specific needs. Having some extra dough to play with can make a lasting strategic difference toward reaching your digital marketing goals.
Amy John is a marketing executive with over 12 years of experience in the execution of marketing and lead generation strategies.