How to Keep Festive Season Spend for Your Business Under Control

How to Keep Festive Season Spend for Your Business Under Control

No matter what business you operate, be it a digital marketing franchise or an online retail company, you are sure to be faced with increased expenditure during the festive season. Here are a few simple tips to help you keep your December spending under control. 

Draw Up a Budget and Communicate it to Your Employees

It’s not difficult for spending to get out of control at any time of the year. But, during the festive season, it’s particularly easy. Before you even let a single cent go, draw up a detailed budget for December. Itemise it in terms of what your business really needs and what it can afford to splash out on. Once you have it set up, do not waver from it. Also, remember to communicate the budget to your employees. You could also break up the budget in departments, and make sure that each department knows what they can spend. 

Introduce Spending Controls – If You Haven’t Already

Keep a close watch on each and every cent, and keep your receipts. Your finance department may generally check receipts once a week. Over this season, rather let them check it once a day or every two days. Add up the spending and check it against the budget constantly. If you allow certain staff members to make purchases with company credit cards, place limits on the cards so that spending is automatically stopped when the limit is reached. 

Keep Credit Cards for Emergencies

Speaking of credit cards, remember that they really should only be used in emergencies. You may feel tempted to increase spending over this month and you may want to make use of your credit card in order to make that possible. Resist this urge. You need to keep your credit cards with a good positive balance in case of emergencies.

Make Your Festive Spending Worth It

Finally, aside from just following good common sense, go one step further and make your festive spending count by taking the opportunity to use it as a marketing tool. Now is the time to use gifting and entertainment spending as a tool for drawing new clients and cementing relationships with current ones. This way, your festive spending becomes an investment in next year’s business.

Outsourcing work like copywriting, SEO and digital marketing can help free up resources and ensure you deliver on time. Contact Unibit Solutions for more information about our digital marketing services today.

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