2020 came and went like thirty-two hurricanes hitting all at once. It destroyed almost everything in its path, but now, it is time to put on the gloves and rebuild in the New Year. And, it is time to start thinking about your 2021 marketing plan.
Business owners should be looking at the New Year as an opportunity to start anew. One element of your business that must be new every year is your marketing plan. Since your marketing plan supports your business goals, a marketing plan must align with the overall company strategic initiatives.
2021 is the time to show your customers the value you deliver, and your marketing plan should be the roadmap for that journey.
Here are five things to consider when you are creating your 2021 marketing plan:
Set Short Term Goals
They say that the best business owners can take a step back and see the bigger picture when working on something. While this is usually the right way to run a business, 2020 showed us that sometimes the bigger picture is a work in progress.
As Mike Tyson said, “everyone has a plan unto they are punched in the mouth.”
Setting overarching yearly goals is a great way to stay motivated, but yearly plans can quickly become unrealistic and obsolete when the world gets turned upside down. This year think about incorporating monthly or quarterly marketing goals into your marketing plan. Setting shorter-term goals will allow you to create realistic goals that are not impacted by the outside world. Staying flexible and adjusting to opportunities is essential.
Short term goals will help you better understand how your business is handling the recession, month by month. Thinking short-term will ease your marketing team’s stress while also providing you with more accurate insight into how your business performs in a challenging environment.
Amazon’s CEO Jeff Bezos believes every day is day one. Making your marketing plans over a shorter time range can help you bring a fresh mindset to work each day.
Here is a short-term example – if you work in a B2B environment, can you have 40 meaningful engagements with new prospects each month. That’s just two per day? Create a simple definition of what a meaningful engagement is, so everyone is clear. Break down that long-term annual goal of growing marketing qualified leads into something you can measure daily.
Maintain a Healthy Budget
A new marketing plan will come with a new budget. This year, marketing budgets may be lower than in prior years due to Covid or revenue challenges from 2020.
While your budget will be smaller due to the recession, your marketing team must have enough money to be effective. It would help if you focused on fewer projects to make sure you aren’t spreading your marketing efforts too thin.
If you find that your business does not have enough money to fund your marketing efforts effectively, it may be time to investigate a small business loan. The money you get from a loan will allow you to carry out your marketing efforts. It is your job to provide metrics to demonstrate how the loan will pay off in the long run.
Loans for specific sales and marketing expansion and investment can be like buying some fuel for your vehicle. Without the fuel – you can’t drive growth. Do not let your current financial circumstances prevent you from carrying out your business plans. There are countless resources available to help you make it through this downturn.
Bring in Extra Help
As a business owner, it can be challenging to accept that other people will often be better than you at handling specific tasks within your business. This idea is especially true if you are going through a digital transformation.
Marketing your business is a tall task, especially if you do not bring in professional help. If you had to furlough employees, or if the department seems to be lacking, it may be time to consider hiring fractional/part-time employees or W9 workers. You might not be able to hire that digital marketing director you need full-time for $125K per year. But maybe you can hire them for $5K per month for four months to kick start your efforts.
Most companies are furloughing or getting rid of extra employees to free up the cash-flow so that full-time hiring may seem like a silly idea. Still, the marketing department needs to have talented employees if you want it to be successful, especially if it involves generating new leads to fill the funnel.
Right now, there are more gifted professionals out of work than ever, so hit those job boards to attract some new talent and don’t forget to leverage LinkedIn’s massive network.
Duh —Go Digital
The shift towards a digitally connected world has been taking place for quite some time now. This past year, the pandemic accelerated that shift tenfold. Covid has accelerated online and digital transformation in almost every part of the economy. Often people tell me that my industry is still old school – no one uses digital tools. Seriously?
The problem with that thinking is that your industry has 20 and 30 somethings coming up the ranks, and they are all digital natives. You may have a static view of your marketplace that is dusty, dated, and needs an update. Put on a pair of digital glasses and see the world from a Gen Z’s perspective.
As you draft your marketing strategy for the new year, emphasize digital marketing and testing a fresh approach to how you go to market. Last year I helped one client test an email marketing campaign to build brand awareness and generate new prospects. They saw a 40% increase in brand awareness and a 65% increase in MQLs (marketing qualified leads) from the prior year. They didn’t think anyone would read their emails or click on CTAs (call to action).
As the world shifts to a more digital landscape, so too must your business. Make sure your 2021 marketing plan reflects this digital pivot.
Refresh Your Brand
This past year forced many owners to reevaluate their business models and the products their business offered. If the COVID-19 situation has forced your company to pivot, a rebranding could be in order. A rebrand will let your customers know that your business model has changed.
A rebrand does not need to be a full-on logo change or name change. Something as simple as retooling your website or changing the theme of your commercials can help the brand. Rebranding might involve telling your story in a more straightforward format.
Even a new tagline can help make it easier for sales and business development to quickly tell your account. I worked with a North Carolina company called ScitoVation.
By adding a simple tagline – Pioneers in Chemical Safety Assessment, we quickly made it clear in our communications what they do. The name alone didn’t tell their story.
Recently, IKEA launched their stay home campaign, which featured new themes and elements to their brand that were not associated with them before. More businesses will be leaning on these thoughtful campaigns as the epidemic continues. Check out their #stayhome video that played in Spain.
In summary, consider a 2021 marketing plan that is more agile, flexible, and with specific goals. Take incremental steps each month toward your north star. Consider getting a loan to provide some fuel for growth. And maybe get a fresh perspective on how you are telling your story.
If you are interested in giving your brand a refresh but don’t know where to start, contact me today! I’d love to discuss what challenges your marketing campaigns have recently been facing, as well as discuss the possibility of rebranding your company in the coming year.
Go lace up your gloves and start punching out 2021.
Got a marketing challenge?
I can help. You can set up a time to chat with me about your marketing challenges using my calendar. Our initial conversation is free. You talk, I listen. Please email me at jeffslater@themarketingsage.com or call me. 919 720 0995. Visit my website at www.themarketingsage.com. Let’s explore working together today.
Photo by Tony Hand on Unsplash
Photo by Monica Silva on Unsplash
