A Guide for Small to Mid-sized Recruitment Agencies in Australia
With just over two weeks left until the end of the financial year in Australia, it’s time for recruitment agencies to buckle down and tackle their marketing tasks to set themselves up for success in the upcoming financial year.
Here are six essential items to check off your marketing to-do list before the new financial year begins.
- Review Last Year’s Performance Against Forecast
Take a deep dive into last year’s sales performance and expenditures, comparing them against the budget forecasts. Analyse the factors that influenced those results to gain valuable insights for developing a S.M.A.R.T. (specific, measurable, achievable, relevant, and time-bound) forward-thinking strategy.
- Consider Your Marketing Headcount
Evaluate whether your current marketing resources, whether in-house or outsourced, align with your growth plans and targets. Do you have sufficient, adequately skilled and experienced staff in place to execute your marketing plan effectively? Has your business grown to a point where you need a dedicated marketing resource and/or a higher level of strategic planning and execution?
- Analyse the Market
The past few years have brought significant external factors that have shaped various industry sectors, presenting both opportunities and threats. From natural disasters to a global pandemic, supply chain disruptions, and fluctuating interest rates, the world and the behaviour of consumers have transformed. In many cases, the industry sectors that recruitment agencies support have also been impacted. To ensure informed business planning and forecasting, it is crucial to have a thorough understanding of these changes and adapt your marketing strategy accordingly.
- Get Your Marketing Budget Signed Off
Take proactive steps to plan and ensure you have a well-considered marketing budget that aligns with your sales goals and overall business objectives. Carefully map out your marketing plan so that the initiatives you will need to deliver your business goals are financially supported. Doing so will allow you to hit the ground running, gain stakeholder support, and avoid disappointments or roadblocks from the finance department. No one likes to hear “We didn’t allow for it in this year’s budget”, least of all those responsible for hitting those sales targets!
- Find Out What Tax Concessions You Can Claim
Uncover potential tax concessions you may be eligible for, ranging from new website development and software investments to social media advertising. It’s always advisable to consult a qualified accountant to ascertain the specific deductions applicable to your business. Being informed will allow you to maximise your marketing planning.
- Convert Google Universal Analytics to GA4
Stay ahead of the game with data analytics and marketing insights for your organisation. With Google’s Universal Analytics set to sunset on July 1, it’s crucial to switch to GA4 promptly. This transition will ensure your business remains at the forefront of leveraging data analytics for optimal marketing outcomes.
By addressing these six important marketing tasks before EOFY, small to mid-sized recruitment agencies can set themselves up for success in the upcoming fiscal year and beyond.
If you are a small business or startup needing assistance with any of the above, we can help! Please reach out to Jeannette Borg at Your Virtual CMO via email: email@example.com.