The end of the year is quickly approaching which means its time to spend your remaining budget. Whether you are in accounting, HR, research development, sales or marketing not using your entire budget could lead to a lower budget the following year. So as you scramble to decide how you should spend your remaining budget, we’ve created this handy guide on effective ways to use your end-of-the-year budget.
Thank your team
Use a portion of your remaining budget to show some gratitude to your staff. Showing a little gratitude can go a long way, it can increase performance, increase job satisfaction, and is good for business. There are many ways you can say thank you to your employees. You can gift your employees with company apparel or logo merchandise. Set aside money for bonuses or gift cards. Even something as simple as a thank you card can go a long way. Whatever your plan may be just remember to set aside some money from your budget to gift your team. How do you plan on saying thank you for this year?
Reward your valued clients
The holiday season is a time for giving, so why not dig into that budget to gift some of your most valued. Promotional products are not only a great way to get your brand recognized; they also make great gifts for the holiday season. The great thing about promotional products is that you can find products that are more affordable or high-end products. When you are looking at the end of the year budget plan accordingly to find the perfect gift for that perfect customer. What promotional product will you be giving your customers?
Invest in marketing
The end of the year may be winding down but your marketing plan should still be rolling. If you’ve may have hit all your plans are goals by this time and have money left over this is the perfect time to experiment a little. Depending on how much is left in the budget you may be able to refresh your brand with a new logo or design. Spend a little more social media ads or testing a new campaign. The good news is the end of the year is the best time to try something new with marketing. According to an AdRoll study, holiday ad campaigns get a 7% increase in ad impressions, a 12% drop in cost-per-click, as well as a 20% decrease in cost per impressions—as compared to other months. What new marketing ideas will you try?
Improve the office
We can all agree that our workspace could use a little revamping. Why not use your remaining budget to fix the place up. New chairs, refilling office supplies, upgrading the computers; depending on how much you have you can make a big difference. It’s time for a new year why not make it a new office as well. What is the first thing you would upgrade to your office?
These are just a few ideas we have on what to do with that leftover budget money. Whatever you end up using the money for just be sure to spend it because once you lose it you can’t go back.
What are other ideas you would spend your end-of-the-year budget?