As the seasons change, it’s time to start thinking about your 2024 marketing budget. Developing an organized and strategic budget is one of the most important steps to growing your business. Without proper planning, it can be difficult to later find the money for partnerships, media campaigns, and advertisements. Here at Housing First Minnesota, we know the perfect formula to create your next year’s marketing budget.
Review your goals
The best place to begin is by looking at company goals for the year. Your marketing budget should help you achieve those outcomes, whether that means setting up new partnerships to increase sales, or advertising in new publications to reach a more diverse audience. Go through each goal individually and ask yourself: What is the best marketing strategy to reach this goal?
Look at past trends
Dive deep into your own data and find the marketing strategies that worked — and the ones that didn’t.
Budget first for the strategies that performed well in the previous year. If you’re interested in maintaining effective partnerships or securing another ad with a reputable publication, outline those priorities in your first budget draft. Since you know how much these items typically cost, it will be easier to strategize. You could even increase funding in these areas to further invest in these relationships. If there were campaigns that missed the mark in the previous years, consider reallocating funds or redesigning that strategy for the following year.
Mix it up
Don’t be afraid to do something different! Remember that the market, consumer preferences, and dominant media formats are always changing, so it’s good to mix old marketing ideas with new ones. Always leave room within your budget for innovating to see where new ideas can take you.
Housing First Minnesota partnerships
If your company is looking for new partnerships, Housing First Minnesota has many different advertising and sponsorship opportunities available for all budgets and strategic goals. Our publications reach a variety of audiences, from builders, remodelers, and other professionals to homeowners all over Minnesota.
One opportunity to consider as you develop your marketing budget is to sponsor one of Housing First Minnesota’s many events. If you’d like to reach a massive audience across the Twin Cities, sponsoring the Parade of Homes or Artisan Home Tour may be the way to go. Housing First Minnesota prioritizes advertisements and social media campaigns for these events, so in partnering with one, you gain the same publicity and exposure connected to the event.
If you are interested in reaching an audience of professionals, consider partnering with a member event. Housing First Minnesota is an association with nearly 1,000 members — builders, remodelers, subcontractors, suppliers, and more. At events like the Building Industry Gala (BIG) Night and the Builders and Remodelers Show (BRS), hundreds of professionals will be exposed to your brand.
Adapt every year
Though it can be tempting to keep the same marketing budget year after year, you will find your marketing performance often improves with reenergized campaigns. Search for new ideas, revamp what you’ve done in the past, and be bold! Housing First Minnesota is here to help you ensure your marketing budget is the best it can be.
Check out our 2024 advertising & sponsorship booklet for all available partnership options, including print and digital advertising options and event sponsorships.
