As we finally say goodbye to January, I wanted to sign off the month with some quick-fix actions that will help you step up your marketing in 2023.
Step 1: What Are Your Goals For The Year?
You may have a revenue target in mind. Or you may want to grow your customer base by a specific percentage. You might be planning new product launches throughout the year, or perhaps it’s a mixture of all those goals.
Once you have identified what your goals are, break them into quarters and by month. This will give you a clear overview of what needs to be achieved by when.
You can then map out what marketing activities will support your goals. And remember, some activities can be a slow burn, so don’t expect fantastic results overnight – and plan accordingly!
Step 2: Know Your Target Buyer
I cannot stress how important this is. If you try to market to everyone, you’ll end up marketing to no one.
Take time to understand who your bulls-eye buyer is. Hubspot has an excellent tool for generating your specific target persona.
Once you know who they are, look at what problems they’re currently facing. Knowing this will help you articulate how you have the solution they’re looking for.
And remember, buyers change over time – as do their problems. Businesses evolve, markets fluctuate, and new influences emerge. So don’t assume just because you’ve had one specific customer type with one particular problem for many years that it’s still relevant.
Just think, this time last year, there was no war in Ukraine. Now, consider how much that has affected us over the past 11 months.
Step 3: What’s Your Budget?
Determining how much you should spend on marketing your business can take time and effort. But, as with the previous steps, taking the time to agree a specific euro figure will help to focus your decision-making when choosing which activities to do throughout the year.
The size of marketing budgets varies depending on industry and sector, and whether you’re B2B or B2C. Typically, those targeting consumers will need to spend more.
For an average-sized B2B SME, consider anywhere from 2% – 5% of total yearly revenue as a starting point.
Step 4: Don’t Repeat What Didn’t Work
It seems intuitive, right? And yet, how many businesses keep repeating the same activities year after year even though they are not delivering the desired results?
Before cutting out specific activities altogether, see if improvements could be made with a few tweaks here and there. If you’re sure nothing can be done, then it’s time to stop that activity and invest your valuable budget elsewhere.
Step 5: Measure
This is where the importance of knowing your goals comes in!
Success will look different to different businesses but having a specific target to aim towards will let you know on a quarterly basis if you’re on-track or if changes are needed.
This also means that you won’t hit year-end with the sudden realisation that your marketing isn’t working despite your investment.
Marketing is not a one-hit-wonder. And there’s no one-size-fits-all.
To be successful, marketing needs to be strategic, to follow a plan, and be measured.
I’ve prepared a handy infographic summarising these 5 tips. Download it and keep it by your desk.
Remember to check in on your activities regularly and you’ll undoubtedly be on-track to better marketing in 2023!