Tax Day – Spend Your Refund Effectively
Every year during tax refund season, it can be tempting to put the extra money aside for savings or to reinvest a portion of the money back into something supplementary like making the office space more appealing. But with so much data reflecting how active consumers are during the period after they receive their refunds, more brands are beginning to reinvest their own money into marketing campaigns or system upgrades. There are many directions to go with in regards to taking advantage of this short window of time, so here are a few suggestions to consider for your upcoming refund.
Opportunities For Upgrade
If the business has been moving along swimmingly, it can be very easy to ignore some of the components of operation that require reformation. For smaller companies, worrying about CRM may not be the main concern as of yet, but for larger companies, CRM is too important to ignore. Unfortunately, many businesses fail to upgrade their CRM software after a few years because they’ve grown comfortable with the interface structure or fail to realize when better applications are released. But make no mistake, each year new CRM software enter development and testing with more functionalities and integrations to grant companies more insights about their customer experience. The tax refund period is a wonderful opportunity to invest in a new CRM program if it’s time for a change. We’re a digital marketing agency elevating West Palm Beach brands by helping them determine if a CRM transition is the necessary course of spending.
On the other hand, if spending your tax refund money on a digital upgrade isn’t on the list of tasks, reinvesting the dollars into a promotional campaign is the next best idea. After all, you aren’t the only one receiving your refund, and during the period around Valentine’s Day into May, advertisements see a massive spike in clicks when the refund hits. It has been recorded that 24% of households use their tax refund money specifically on a larger household addition or a family vacation. Therefore, depending on the industry your brand is involved in, reinvesting extra funds into promotion during this time can have an enormous impact on sales. 84% of taxpayers each year receive a refund check, so be sure to capitalize off of their extra income accordingly.
Strategize Your Spending
Reallocating funds toward the most pressing marketing goals can be a struggle if there are many different initiatives to consider. Naturally, every brand has a list of milestones they hope to reach each year, and with the help of a digital marketing agency near West Palm Beach like Smashed Media, we can figure out the best course of spending. Being cost efficient in the online marketing world is all about staying on top of relevant knowledge as far as new programs, developer deals, and innovative marketing strategies. We’re the primary digital marketing agency serving brands in West Palm Beach and nationwide because we consistently scour the interweb for the most cutting edge marketing techniques. After understanding the company vision, we can work within your budget to strategically upgrade or update the parts of your marketing system that need attention most.