While it has been a crazy and frustrating year for many businesses, there are still many businesses that have navigated through this year because they already had a plan in place. Having a marketing plan and budget established going into the new year puts you in a better position than your competition because while they are winging it and trying different things, you can spend your efforts carefully adjusting your goals and tactics. The development of marketing helps you keep your brand consistent, especially in uncertain times. Much like a ship navigating treacherous waters and storms, the ship can stay on course and reach its destination because it chartered (or planned) the trip in advance.
That’s a big advantage! So, if your business is a little slow right now, or you just want a better year, invest your time in developing a plan and budget for the next year using the following steps.
Step One- Review all elements of your efforts this year and look at what worked and what didn’t. Pull out all marketing material you used for social media, your website, and any printed material you may have used, and see if they all point to you as a company; or as a brand. Is it consistent or are the look and styles being sent out to customers somewhat confusing and inconsistent? If they are all consistent then ask yourself if the look and message will continue to work in 2023 or does it need freshening up.
Step Two- Look at your customer base. Did it grow, shrink, or did it remain stable? Where are your customers coming from? How are they finding you? What consistencies do they bring? Are your customers similar in the type of industry? Is your revenue too weighted to one type of customer or industry? If so, consider areas that you could diversify and make your offering more appealing to a broader base of potential customers.
Step Three- Look at the budget you allocated and how it was invested. Review all the analytics that are available to you on your social media as well as your website. In looking at your social, pay close attention to your engagements. Review those posts that achieved a high level of engagement and what they have in common. Was it a content-driven, video-driven, topic? Having this information will allow you to plan more effective content going into 2023. Reviewing your web traffic is also a crucial element in knowing what pages are of most interest to customers' search efforts, how long they are spending on your website, knowing how effective your social is in driving traffic to your website as well knowing what terms people are using in their search efforts and where they are located.
Step Four- Set your goals and objectives. Developing a plan without an outcome or destination is like getting in your car and just driving. Any direction taken will get you there (wherever that is). Whether you set your goals based on a percentage of revenue increase, a number of customers, or building up selected areas of your business; establishing goals and objectives that can be tracked will be key to tracking the success of your efforts.
Conducting these four simple steps will help you to go into planning and budgeting your marketing efforts as well as help you build on experience. Taking steps like this, year after year, will not only help you get better at growing your business but also protect you during uncharted times as we have seen in the last few years.
Have questions? Need more information or help planning your marketing for next year? Give us a call at 812-944-7728.