Put That Budget Surplus to Use!
Dec 14, 2016
The end of the year is coming – and so is the possibility of losing out on making the most of any budget surplus. Don’t let it happen to you!
If you have some leftover in your budget, don’t go buying “stuff” simply for the sake of buying it - never a good policy. Instead put those dollars to work for your department and your annual goals.
Here’s a few ways you can take those dollars and turn them into something beneficial.
This should be one of the first places your budget surplus goes to. (Of course only after you’ve evaluated the promo items you’re restocking to make sure they serve a purpose of fulfilling a particular goal!)
One of the best reasons to restock at the end of the year is the ability to take advantage of 2016 pricing one last time. With the new year often comes price increases, so if you can purchase an item before the increase you stand to save a couple dollars for 2017.
2. Plan for next year
Have a big trade show on the calendar for next year or plan on hosting an event? Take those extra dollars and invest in a product that’s guaranteed to get some attention.
If you’re a company which usually doesn’t go for the higher-ticket items, having these unused budget dollars gives you the opportunity to test what happens when you have fewer but higher quality giveaways. Rather than giving one to every attendee who comes to your event, raffle off ten amazing must-have giveaways. You can generate some buzz about your event and ideally bump up next year’s attendance along with extending the reach of this event.
3. Pay it forward
Want to pay it forward to those who mean the most to your organization? Employee recognition and client appreciation are two areas where a little goes a long way. Small tokens of appreciation for your most-valued people can improve morale within the office and strengthen relationships with key accounts.
The first week of January is National Thank Your Customers Week from the 2nd-6th. Anytime is a good time to say thank you, but go a step further and create a full-fledged campaign to create some good will and get some exposure.
There’s lots of ways to use up those extra budget dollars – don’t let your surplus go to waste!
Not sure what products are the right fit for your organization and goals? Get in touch and let's talk!