Maximizing Marketing Efforts at the End of the Financial Year: Tips for Small Businesses

As the end of the financial year (EOFY) approaches, small businesses in Australia have a unique opportunity to boost revenue and optimise tax deductions. With the current cost of living, consumers are looking for ways to save, making it an ideal time to offer value-driven promotions. Small businesses can implement some effective marketing strategies to bring in more business and claim marketing expenses before July 1st.

1. Launch a Year-End Sale or Promotion

Capitalise on the urgency of EOFY by launching sales or special promotions. Offer discounts, bundles, or limited-time offers to drive immediate sales and attract new customers. Highlight cost-saving opportunities like bulk buying or bundled deals to appeal to budget-conscious consumers.

Example: A local grocery store could offer a “Stock Up for Less” promotion, providing discounts on bulk purchases of pantry staples. Highlighting how buying in bulk can save money in the long run will attract cost-conscious shoppers.

Tip: Promote these deals through email marketing, social media, and your website to maximize reach.

2. Invest in Digital Advertising

Boost your online presence through digital advertising. Allocate part of your marketing budget to Google Ads, Facebook Ads, or Instagram Ads, targeting specific demographics to reach your ideal customers.

Example: A home goods store could run Facebook Ads targeting local families, showcasing a “Winter Essentials Bundle” with a special EOFY discount. Given the winter season, promoting items like heaters, blankets, and winter clothing can be very appealing.

Tip: Track ad performance closely and adjust your strategy based on what’s working to maximise your investment.

3. Enhance Your Content Marketing

Quality content drives traffic and establishes authority. Invest in:

? Blog Posts: Write articles addressing common customer pain points or showcasing expertise.

? Videos: Create engaging video content for social media or your website.

? Infographics: Share visually appealing infographics with valuable information.

Example: A financial advisor could publish a blog post titled “Top Tax Deductions to Maximize Before July 1st,” providing actionable tips for small businesses.

Tip: Repurpose content across platforms to maximize reach and impact.

4. Boost Your Email Marketing Campaigns

Email marketing remains highly effective. Use this time to:

? Send Personalised Offers: Tailor messages to different audience segments to increase engagement.

? Highlight Promotions: Inform subscribers about year-end sales and special offers.

? Share Valuable Content: Provide tips, industry insights, or case studies to help your audience make informed decisions.

Example: A fitness studio could email discounted annual memberships if purchased before EOFY.

Tip: Use compelling subject lines and clear calls to action to improve email open and conversion rates.

5. Refresh Your Branding and Marketing Materials

Investing in a branding refresh can make your business stand out. Consider:

? Updating Your Logo: A modern logo can enhance brand appeal.

? Redesigning Your Website: Ensure your site is user-friendly, mobile-optimized, and visually appealing.

? Creating New Marketing Collateral: Develop brochures, business cards, and other materials reflecting your updated brand identity.

Example: A real estate agency could update its branding and launch a new website, featuring a user-friendly property search function and fresh marketing materials.

Tip: Work with a professional designer to ensure high-quality results.

6. Host a Customer Appreciation Event

Show customers their value by hosting a customer appreciation event. Depending on your business type and audience, this could be virtual, a webinar, or an in-person gathering.

Example: A local café could host an EOFY thank-you event, offering loyal customers free coffee and discounts on future purchases.

Tip: Use the event to gather feedback, share updates, and introduce new products or services.

7. Optimize for Local SEO

Improve local SEO to attract more local customers. Ensure your business is listed accurately on Google My Business, Yelp, and other local directories. Encourage satisfied customers to leave positive reviews.

Example: A dental clinic could update its Google My Business profile and encourage patients to leave reviews, boosting its local search ranking.

Tip: Use location-specific keywords in your website content and meta descriptions to improve local search rankings.

Claiming Marketing Expenses

Remember to keep detailed records of all marketing expenses. Advertising costs, promotional materials, and even digital marketing spending can often be claimed as tax deductions. Consult with your accountant to ensure you’re maximising your deductions and complying with tax regulations

Example: A small business owner can claim expenses related to their EOFY digital marketing campaign, such as Google Ads spending, design fees for new marketing materials, and costs for an email marketing service.

By implementing these marketing strategies, small businesses can drive more sales and improve their bottom line as the financial year comes to a close. Not only will these efforts bring in more business, but they will also provide valuable opportunities to claim marketing expenses, setting the stage for a successful new financial year.