Nobody likes to waste money, especially marketing dollars. Increasing ROI, optimizing campaigns, and showing results to higher-ups will forever be top of mind for marketers. In this blog, we will dissect how to strategically spread your marketing dollars out based on your business’s most profitable times of the year.
Many businesses will experience the dreaded “slow season”. Whether that is an outdoor restaurant in the cold season or a costume shop in the middle of summer. It is rare to have a business that is exponentially profitable 365 days out of the year. The interesting thing is that in most cases these slow seasons show a pattern that repeats year after year. With that being said, as a marketer, it is your job to find these patterns and use them in your strategies. Go back through yearly reports and look for times of the year when business is slow and times when business is booming. The more yearly data available the more accurately you can spot patterns based on times of the year.
If you are a new business or don’t have yearly data available (start collecting it NOW), don’t worry. You can look at patterns related to your business’s industry. The data will not be as accurate for your specific business but will give a good indication of the overall market.
Strategies for Slow Season
While it is common to reduce marketing spending during the slow season, do not look at this as a time to relax. Slow season is a great time to test new marketing strategies. Look into your web traffic and advertising stats for this period, does a specific year stand out? Take strategies that performed well and begin experimenting with different combinations to find that perfect marketing mix. If you are a marketer that can increase sales in the slow season, you will become a hero for the business. Not only that, if the strategy works well in the slow season, imagine how it could perform during peak season.
Strategies for Peak Season
To put it simply, peak season is typically going to be your time to really push the bulk of your marketing budget. Ideally, you want to hit your audience in multiple places while they are in the buying mindset. Additionally, advertising space is typically going to be more expensive during an industry’s peak season, specifically the holidays.
Think of ways you can get a step ahead of your competition. Use new advertising platforms, launch your ad campaign early, run a strategy you tested in the slow season, etc. The peak season is not just your most profitable time of year, but your competition’s also. In order to see big gains from the year before, being on top of your competition will play a big part.
The best way to utilize your marketing budget is to adjust it according to the times. Set it and forget it will almost never be the best option when it comes to marketing. Take a look at your historical data and find patterns that you can utilize when coming up with your seasonal marketing plans.
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