Sales and Marketing Budget: Use it or Lose it?
9 Ways to Use Your End-of-Year Sales and Marketing Budget
We all have budgets to follow. But if your budget is based on the calendar year and isn’t maxed out yet, it could hurt you for next year! You see, not using all the sales and marketing budget could cause leadership to believe you didn’t need all of it, and subsequently get less budget approved next year.
So you’ve got just two weeks left in the year…Using your end-of-year budget to help your sales team grow in 2019 may be one of the best ways to position your team for success in the new year.
The Vengreso founders have come together to share ways to use your budgets now, and maximize revenue impact for next year.
Viveka von Rosen says:
Investing in Premium Solutions. While some companies resist the “pay to play” model when it comes to software solutions, if you find yourself at year end with some budget left over, that might be the perfect time to invest in software that could help to increase your sales team’s productivity and revenue in 2019. One premium solution I can’t live without (now!) is LinkedIn Sales Navigator. I was previously hesitant to invest until end-of-year budget crunch time. Navigator is great for B2B sales teams. Sales leadership can see how their reps are engaging with prospects and more. I can easily track my ROI and know that this investment produces major rewards.
Invest in Sales Incentives. There is nothing like rewarding your best sales reps with end-of-year rewards or setting up sales quota incentives for 2019! Trips or iPads are always a big win. Buy it now, give it to them in the new year.
LinkedIn Advertising. LinkedIn ads have gotten a bit of a bum rap – but if you do them right, they can produce some pretty nice results. Why not use some of your end-of-year budget and invest in some LinkedIn ads, perhaps targeting a new audience with a year-end sale of your products or services.Sales and Marketing #Budget: Use it or Lose it? @LinkedInExpert shares how to use up this year's budget to benefit your #2019 numbers. #DigitalSales #DigitalMarketingClick To Tweet
Kurt Shaver Says:
Sponsor a podcast series that reaches your prospects. Podcast content has a long shelf life. It can provide value in a very specific area and attract a targeted audience. If you’re selling to sales and marketing leaders, consider Vengreso’s podcasts, “Social Business Engine” (marketing leaders) or “Selling with Social” (sales leaders).
Book a photographer for your 2019 National Sales Meeting to take professional headshots for your staff. It’s important to ensure that your team is representing your company well. And, if you still have money in that budget and you’re looking for more impact than just looking good, consider a company-wide LinkedIn Profile Makeover for Teams program. This investment will dramatically help your sales team stand out, add value to their prospects and attract more opportunities leading to more booked calls.
Sales and Marketing #Budget: Use it or Lose it? @KurtShaver says investing in #podcast sponsorship can get you in front of your targeted buyers in #2019. #DigitalSelling #ContentMarketingClick To Tweet
Mario Martinez Jr. says:
Order your sales leaders a book. Help your team grow and develop in 2019 by providing relevant books that offer insights they can apply to their role. Buy them a book that will help them grow as a producer and leaders.
Check out: 33 of the Best Sales Books – 2019 Edition
Here is a great one that won’t impact your budget one penny – encourage your sales reps and leaders to subscribe to a free 12-month digital subscription to Selling Power Magazine to help them grow as sales leaders.#Sales and Marketing #Budget: Use it or Lose it? @M_3Jr shares that the right books can be great gifts to help your team grow personally and professionally. #DigitalSales #SalesLeadershipClick To Tweet
Bernie Borges says:
Invest in defining the content your sales team needs. If you’ve never gone through the exercise of setting up a content for sales enablement strategy, it’s definitely worthwhile. Your sales team needs content to engage the modern buyer. Defining or updating buyer personas is an opportunity to revisit the basic understanding of what makes your buyer tick in terms of pain points, interests and needs in relation to your offerings. Once you’ve defined the content your sales team needs, you’ll be ready to produce and distribute it. Your sales team will love this content because it makes it easier for them to start more sales conversations.
Invest in the social amplification of your employees. Each year the Edelman Trust Barometer report reveals that employees are the most trusted source of information. Give employees what they want – a chance to be empowered to share your content, engage in social media and show their authentic support for your brand. Don’t miss out on making employee social media advocacy a key element to your digital sales and marketing strategy for the new year.Sales and #Marketing #Budget: Use it or Lose it? @BernieBorges shares how investing NOW in an employee social engagement plan can help you in 2019. #DigitalSales #SocialSellingClick To Tweet
BOTTOM LINE: Whatever you do, don’t let that budget go to waste. There are so many ways you can utilize it now that will produce ROI in 2019.