We hope you had a great holiday feast.
Chances are, you will be enjoying leftovers as well. Remember, don't eat too much at a single sitting.
Of course there are also some rules about another kind of leftover you may have right now. These are the leftover marketing dollars you have that you lose if you don't spend them by year-end. Here are some rules about how to best use these "leftovers."
1. Don't do anything until you know you have authority to spend those dollars, even if you have budget. Organizational profitability requirements may prevent you from spending those dollars.
2. Don't spend just for the sake of spending. Figure out strategically how your money can be best spent. If you can't think of anything, don't spend the money.
3. Here are just a few things you can do:
a. Get all your online efforts for next year in line. Finalize your Website. Optimize it. Get your social media programs going. Get any videos done.
b. Instead of mailing your direct mail campaign just after Jan. 1, mail it just before Jan. 1 to expense the postage. But don't mail it too soon - you'll want it to hit after the first of the year.
c. Have any miscellaneous writing projects initiated in December.
d. Begin the process of initiating a market research project in December, and see how much of it you can pay for up front.
e. Prepay planned 2011 advertising expenditures. You might even be able to get a discount.
f. Talk to other providers about paying them in December with 2010 money, even if your schedule doesn't permit them to start working on a project until after the first of the year.
4. If you are a B2B company, try using this strategy with your clients. Have them commit to spend IT money, buy office supplies, whatever. It works.
What other ideas do you have? Leave them here.
