2016 is Upon Us....is Your Marketing Strategy Ready?
It's no secret that businesses are having to invest more time on evolving their marketing tactics each year to maintain, if not grow, their customer base. It is even harder for small businesses and individuals to experience successful growth without a well thought out marketing strategy. This article will guide you through the process of developing a marketing strategy, key items to consider, and helpful examples; all designed to get you started.
Why Have a Marketing Strategy?
It would be amazing if we could just sit back and have
business come to us, but in an overwhelming world of too many choices, a business
needs creative tactics to draw customers in. This is where a marketing strategy
comes in to play. Your marketing strategy not only helps define your business
goals, but more importantly, it defines methods you will use to achieve them.
So, if you have yet to sit down and seriously think about your strategy, let's
start now!
Where Do I Begin?
With the calendar year wrapping up, you should already have a draft marketing plan that you based your 2016 marketing budget off of. Now, it’s time to sit down and think about your detailed marketing strategy. Your first step should be to reflect on the past year and ask yourself some key questions:
Was my business as successful as I had hoped in 2015? Why or why not?
If your business runs on a calendar year, you should have a feel for what worked and what didn't as a whole this month. Looking at the big picture, to define your successes and areas for improvement, should be a first step. This creates the stepping stone for developing a marketing strategy.
Did my 2015 marketing strategy work as I had planned? If not, what could be done differently?
If you had a marketing strategy in place for 2015, that's great! Now is the time to delve into what worked and what didn't to improve your existing strategy. Remember, in a highly competitive world, you're fighting for what may only be a few seconds of attention from your customers - you have to make those moments count.
TIP: Be sure to make your marketing strategy flexible. If something is clearly not working, you wouldn't want to put your business at risk by following it through the rest of the year. Building in periodic reviews is beneficial (and recommended) as consumer trends can change in a matter of months. What may have worked great for Q1, may not work so well for Q2. Be prepared!
What are my business goals for 2016?
We know that the ultimate goal of any company is to not only maintain, but to also expand their customer base; it's how you generate profits in order to grow your business. Now that you have a clearer image of your business and marketing strategy success for 2015, it's time to analyze that information and define how you can expand your customer base for 2016. Here are some considerations:
In 2015,
1. Was I able to provide everything my customers asked for?
2. Were my customers satisfied with my products and/or services?
3. Did I have repeat customers?
4. Were there any trends that appeared / developed?
5. Were any leads referral based?
TIP: If you find the answers to the five questions above leaning mostly towards “no’s,” then it’s time to add a focus on customer experience to your 2016 goals. Trends are showing that the most successful businesses are thriving because of an authentic focus on customer experience.
These considerations should start you on the path to
defining your business goals for 2016, but should not be looked at as an
all-inclusive list. As you work through each of the three main questions/sub-sections above, you should
find that you revisit each several times before you are satisfied. This is intentional as these questions are
meant to help you analyze performance in order to define goals for 2016.
Looking Into the Future - Planning for What's to Come in 2016
Now that you've reflected on the past year and identified
your business needs and goals for 2016, it's time to consider the
future. What exactly do you have going on in 2016? Are you speaking at any
conferences? Are you anticipating a product launch? Do you have plans to begin a
new book? Any upcoming event, whether new or recurring, should be factored into
your marketing strategy (if it hasn't already from your review of 2015).
TIP: If you haven’t already begun to focus on the authentic customer experience, this should shoot to the top of your goals list for 2016. Creating an authentic customer experience is a blog topic of its' own, but to get you thinking along those lines, reflect on the following questions as they pertain to your business:
What is My Next Step?
At this point, you should have an all-inclusive, but rough outline of your marketing strategy for 2016. Mixed with your business goals, it may seem overwhelming, but take some time and separate out your 2016 business goals from the actual marketing components listed to achieve them. If you can do this, you'll find the list is far less intimidating. An example may look like this:
TIP: Using a table to organize your data or thoughts can be helpful, but is not meant to reflect the final format of a marketing strategy.
Have Your Plan? Revise it Again!
Your marketing strategy should undergo several revisions
before being finalized, so expect this and know that it’s normal. A well
thought out strategy will beat a rushed one a million times over saving the time
and expense of costly rework later. Investing the time to revise areas
that still seem muddy is never a wasted effort.
If you need to, break your strategy down into smaller components. This may happen organically if you have teams specializing in particular areas of responsibility. A sample breakdown may look like:
From there, you can further break down your strategy into project plans and start the process of getting buy-in, which is all the easier when you have an organized marketing strategy to rely on. Planning your year, aligning your planning to measurable metrics, and reaching those goals you’ve been striving for will be easier than ever.
You’re On Your Way!
You are now well on your way to creating a thorough
marketing strategy for 2016. It won’t magically happen overnight, but it will be well worth
the effort once complete. If you haven’t started yet, don’t worry, if you
can beat the January blues (when everyone
is bummed from coming back from holiday vacation), you can still have a great plan
implemented just as everyone gets back into the swing of things come February!
Happy planning!!
We want to hear from you…
Are you already working on your 2016 marketing strategy? If you are, that’s great! If you’re not, what has stopped you from starting on your strategy? Share your thoughts and recommendations; we want to hear from you!
Connect with us…
Crystal Davies is a strategic marketing consultant specializing in branding, marketing, strategy, and business solutions. Her passion is seeing how pieces of the marketing strategy puzzle come together to turn her clients dreams of business success into reality. Contact Crystal at crystal@daviesdesigns.net or visit her company website at www.daviesdesigns.net.
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