Brains before budget in 2022
Your marketing is only as good as the strategy behind it. As tempting as it is to get into the tactics, building a solid plan with real data is key to making better marketing decisions. Especially with the environment at the moment, the way we do things has changed. Consumers have changed. Businesses have changed. How are you going to adapt to the "New Normal". The key is to build insights and a plan.
I was working through this process the other day with a client. They are in the travel industry, hit hard by the last 18 months of disruption. We went back to the numbers first and did a real audit of costs, a realistic forecast of 2022 sales and what we needed to execute to reach our targets. We reviewed the competition and did a deep dive into customer needs and expectations around travel. Small to medium businesses have an advantage as they are on the ground and know their customers. We also decided who to focus on and who to discard. We got hyper-focused.
This planning stage is so critical. It can save you a lot of heartache later. Understanding the goals of the business and when you can't sell, how can you still build value? Maybe it is building your list of prospects so when the travel industry does open up more, you are ready. Maybe it is pivoting into providing virtual holiday experiences. There are always valuable outcomes for your business if you plan rather than just hope. After all, hope is not a strategy.
Build Insight - to do this we need to be curious and learn. In the case of the travel company it might be about providing alternatives, cancellations, building other experiences online, sharing real stories of disappointment, taking some footage on the ground to share with others who can't travel. Being there and showing up for when travel is permitted again.
Key trends over the last 18 months
- Online shopping has exploded
- Telehealth is here to stay
- Online learning is here to stay
- Disruptions to distribution channels are likely to continue
- Focus on the environment is still a priority for consumers
- People care about small businesses more and more when they show up
- Mental health is likely to have more focus in this decade of uncertainty
- New opportunities exist for those businesses who focus closely on consumer and business needs in this new normal
So as we start 2022, have you built a marketing plan or are you just winging it? Don't waste any more time and money. Build a plan so you can do the most effective marketing in 2020. See our Marketing Resources on our Knowledge Hub.
|Tags:Marketing PlanMarketing Strategy|