With a new year comes new attitudes, and the need to find out how your business will deal with inevitable changes to the economy and the industry you work in. In order to prepare for the uncertainties (and excitement) of the year ahead, you will need to adjust your marketing strategies. Here are five guidelines to help suitably adjust your marketing approach:
Analyse your current situation
Are you in debt, have sales increased or declined, are your products popular? Knowing where your business currently stands gives you a starting point and an idea of which areas need improvement.
Look at your social media
A social media presence is a great way to remind your followers that you are still in business and have all their favourite products. Also, look at what your followers have been talking about, and join the conversation. You will get great ideas on which areas of your marketing strategy to improve on, and how to more effectively engage with your online customers.
Set your goals for the year
This is fundamental, and helps you have something specific to work towards. Goals further enable you to measure success in respect of the business’ growth, profitability and other indicators.
Do your research
Analysts in your industry usually have a lot to say about what to expect from consumers in the coming year. This information can positively influence your marketing strategy for the upcoming year, if appropriately interpreted and applied.
Have a plan for quick marketing strategy changes
Small businesses have the advantage of being a lot more flexible when it comes to quickly adjusting to dynamics in the economy or changes in consumer trends. If you already have a plan in place with the process your business has to go through in order to quickly make necessary adjustments, you will have a strong competitive edge moving forward.
If you approach the new year as an opportunity to learn more about what your customers want and possible changes in trends, you will have a better chance of surviving and flourishing. A new marketing strategy for a new year, will get you well prepared to ensure your business model and specific marketing strategies align for optimum results as you forge forward.
Proudly brought to you by the National Small Business Chamber (NSBC).