During these final weeks of the year, many businesses view this period as an opportunity for budget optimization. They strategically utilize remaining resources, particularly in areas with available funds. Investing in tangible products can be an effective strategy to enhance your marketing efforts for the coming year.
Let’s explore some thoughtful ways to allocate these funds wisely.
Trade Shows in the New Year
As we turn the page to the new year, many businesses eagerly start planning for upcoming events and conferences. If you’ve already marked these events on your calendar for next year, it’s the perfect time to begin the ideation process and ensure they’re a resounding success.
Consider refreshing your sales team’s wardrobe by offering various apparel options. This approach allows for personal choice and creates a cohesive yet unique team look without appearing too uniform.
Uniforms and New Hire Kits
If you anticipate adding staff in January, proactively increasing your uniform inventory now can ease your workload during the holiday season. Many organizations provide a standard New Hire Kit to all new employees, so having extra kits ready ensures you can promptly welcome newcomers to the team.
This is also an opportune time to review and enhance these kits for the new year. If certain items in the past didn’t quite hit the mark, use the end-of-year budget to refresh and update these components, ensuring a more impactful and appreciated welcome package for new hires.
Winter Wear & Heavy Duty Gear
For many blue-collar companies, especially those in landscaping, HVAC, or other outdoor and physical work, staff may need to replenish their gear as they are tough on their clothing but still need to maintain a sharp appearance all year round.
In preparation for an exceptionally harsh winter, augmenting your apparel supply with items that provide additional warmth is a wise decision. Think about stocking up on toasty beanies, versatile 3-in-1 jackets, essential layering pieces, and branded pocket warmers from Zippo to ensure your team is well-equipped to handle the colder months.
Evergreen Items for the Entire Team
Every business has its favorite go-to products that they consistently keep in stock, such as pens, notebooks, sticky pads, thumb drives, charging banks, water bottles, coffee tumblers, and mousepads. With prices potentially increasing, it’s prudent to stock up on these items now.
Many businesses find great value in distributing items like bags, which gain significant exposure when used for travel or gym visits, and ball caps, another enduring favorite. Securing these items now gets you ahead of future needs and ensures you’re prepared for customer appreciation opportunities.
Health & Wellness Items
January is an ideal time to promote healthy habits, and if this is part of your upcoming initiatives, it’s wise to prepare now. Consider stocking up on T-shirts, fitness trackers, desktop greenery kits to combat the winter blues, and personal restoration items like candles, lotions, and eye masks. These items promote health and well-being and encourage outdoor exploration and connection with nature.
Lighten your task list for 2024 by placing orders now, utilizing this year’s budget. Freight costs typically rise in January, so shipments made before then can benefit from lower shipping rates. Additionally, placing these orders now means one more write-off for 2023, leading to potential tax savings. It’s a win-win situation.
Need further suggestions on how you can maximize your budget before the year’s end? Contact the Righteous team for a free consultation.
Merry Christmas and a Happy New Year to you all!