We all know that marketing is one of the fields that experience constant expansion and change. This is why it requires consistent learning, development and analysis of the returns on investments in marketing activities and optimizing them in the light of data. Marketing plans are very important in terms of operating expenses. I would like to share some strategic tips on this subject with you.

REVIEW YOUR BUSINESS PLANS…

In order to make a healthy budget, it is important that the marketing strategy is in line with the company's vision, and that your marketing goals are clear. While making the marketing budget, you need to have a good command of the sales data and thus have good communication with the sales teams. One of the mistakes made while making a budget is the marketing plans and budgets that are made quickly (in some cases due to time pressure) over last year's budget templates. However, marketing strategies change every year due to many reasons such as human resources, market conditions, technology, and changes in market trends. Separate budgets should be prepared for these goals by reviewing the business goals.

MORE PROFITABLE TO SATISFY CURRENT CUSTOMERS

One of the issues that should not be overlooked while making a plan is the cost of new customers. Research says it always costs more to focus on the new customer. It says that while it costs 5 times more to find new customers instead of existing customers, a 5 percent increase in customer satisfaction rates can increase profitability by 25 to 95 percent. These data remind us of customer satisfaction, experience and the necessity of contacting the customer.  

As many of you know, Google shares a next year’s trends document compiled by its team working in marketing roles in different countries every year. As you will see there, McKinsey research indicates that 45% of finance managers reject plans or do not provide full funding because they do not see a clear return on recommendations in their marketing plans. For this reason, it becomes even more important that there is only one measurement officer in the company and this person gives the necessary support for all marketing activities. While making a general expenses budget, the increasing costs of suppliers and the difficulty in reaching qualified human resources after the pandemic will affect the annual budget plans

NEW ADVERTISING MODELS WILL COME INTO OUR LIVES

Today, brands that can establish sincere bonds with their customers, stand in the position of opinion leaders with the content and image they create, and are sensitive to social issues and take action come to the fore. It is important to use more than one channel and a communication language suitable for the nature of each channel. To list a few suggestions with this approach;

* Reconsider who you are talking to and who you are targeting. Making your plans in line with new identities, psychologies and expectations will save you time, money and power. 

* The in-app shopping experience will increase, and along with that, new advertising models that change and develop every year will come into our lives. The use of personal data will become a bigger part of our lives as one of the most important reasons for “trust in the brand”. 

* Post-pandemic life has shifted to online, websites have become even more critical communication platforms. It would be good to measure the effectiveness of the sites, especially if it is e-commerce, and make any necessary improvements quickly. Let me make a note here that the global e-sales volume increased by 30% just last year.

* Influencer projects that can directly affect sales will continue as a rising trend. Sincere micro-influencers will shine instead of the influencers we expect a high reach with big budgets. 

* If we look at the expectations of the new generation, and also overall consumers after the pandemic, there has been an increased tendency towards environmentally friendly brands which care about sustainability. It would be right for companies to create their budgets in a way that will speed up the work in this area and focus on creating value and respecting the environment. 

* Communication with current and prospective customers is also changing shell. We have started to experience a period in which the consumer's right to speak in communication comes to the fore more and customized offers/suggestions are expected. For this reason, it will be important to focus on and invest in more research, customer dialogue, the need to open up more space for customers to share their opinions and comments, and to focus on interaction rather than communication.

* It is important to keep budgets flexible and modular in times of currency fluctuations and inflation. It may also be a good idea to classify the expenses as mandatory and optional, which can be reduced in contractionary conditions, and to leave a reserve fund against exchange rate shocks. 

* The maturities are getting shorter. One may suggest fixing the exchange rate in medium-term contracts or stipulating lower/upper limits.

Also, while planning today, we should not forget to prepare for tomorrow. Technology continues to offer new opportunities, particularly for us in the marketing world. It is now a must to follow the latest technologies such as NFT, Metaverse and artificial intelligence and prepare for what we can do in the future.