The beginning of a new year for many means a new start. January is the perfect time to reflect on your 2019 business performance and work out what can be done better, more fluidly and where you can get better value for stronger results in 2020.
The first step towards a successful 2020 is to set smart goals and put a firm marketing plan in place to help you achieve those far-reaching targets.
Goals give you something tangible to work towards
You might know what you want your business to become, and have an idea of the work that needs to be completed to have it perform the way you want it to… but having ideas is not the same as setting goals.
Setting up goals helps you task up the work and get the jobs done, and more importantly, can give you a full view of where your business currently stands alongside the dreams you have of success.
Be SMART in 2020
A SMART goal is your best chance of attacking the New Year head on, and for putting a truly achievable marketing plan into place. Goals need to be:
S = Specific
M = Measurable
A = Achievable
R = Relevant
T = Time bound
Make your goals SMART in your marketing plan – it will turn your ideas and forecasts into an actionable plan that can help you become a strong, target-hitting business.
Example: It’s not enough to say you want to grow your business by getting more clients and taking on more staff. Set your financial revenue target to be met this year, and work out details such as how many clients and staff you need to achieve this. Don’t forget to capture how you’ll monitor progress.
The fundamentals of a marketing plan
Setting a marketing plan at the beginning of each year provides a clear view of what you are working towards. You can use the previous year’s activity to help you create a new one.
A marketing plan needs to include:
- The current market position of your business compared to your competitors.
- The business objectives – priorities and direction for your business.
- A critical analysis of the strengths, weaknesses, opportunities, and threats for your business.
- SMART marketing goals and objectives.
- A marketing strategy. (Read creating a marketing strategy)
- A tactical plan – a working plan of how to hit the goals and achieve the objectives you’ve set – include a list of projects you need to get up and running.
- The finances and resources you require to hit your targets – make sure you have enough budget to begin projects and complete them. (Read some tips on budgeting)
- Measures of campaign success – including a way to benchmark your business success and performance at set times throughout the year, for example month-on-month, each quarter, or each year.
- Forecasted revenue and contingency plans, should something go wrong.
Set your goals now before the year runs away with you
Whether you usually set your goals in the beginning of a new year or at the end of the financial year – don’t let the months go by without giving some thought to the future of your business.
Finding the time can be hard, especially when you’ve got your business hat on and tunnel vision focused on ‘the doing’ rather than the plans you need to put in place. Here’s where investing in marketing consultancy can help.
Marketing Square can support you by outlining your marketing plan for the year and can help you keep track of your business performance, alongside implementing the strategies you want to push ahead with. Contact us to get your year off to a well-planned start.
