Plan for success in 2020
Are you busy tying up loose ends before the year comes to a close? Or is your mind thinking ahead to your goals for 2020? If you’re anything like me, it’s a combination of both. While we all know the importance of taking time to create a strategy for the coming year, we often get lost in the tasks of the day.
Without a plan, it’s easy to lose sight of your goals. Dedicating time to think strategically about the coming year will keep you on the path to 2020 business success.
Developing a written marketing strategy can help you:
Prioritize and focus
From launching a new product to expanding into new markets, you’ll craft your marketing strategy around your company’s broader business goals. This makes your marketing intentional. It helps you evaluate every opportunity based on whether it advances your business toward its goals, so you know when to say “no.” Focusing on your goals also makes it easier to justify resources and measure results.
Maintain your market position
Was 2019 an amazing year for your business? I hope so. After a strong year, it can be tempting to scale back your marketing efforts, but doing so can be detrimental. Instead, think about strategies to keep up the momentum. Rebuilding a loss in brand awareness will cost you more than maintaining it over the long-term.
Stick to your budget
With a strategy and budget planned out in advance, you’ll know what you can spend and when. While every plan should have flexibility built in, setting your budget keeps you thinking about and tracking your results.
Assess and allocate resources
Once you determine your initiatives for the year and put your marketing strategy into place, you can build the team that will bring your plan to life. Then, you can spend time focusing on other areas of your business.
Despite what the word “plan” suggests, a well-crafted strategy doesn’t have to restrain you. It can accomplish the opposite. Creating a plan helps you look at things differently. It can inspire you to think more broadly and open your mind to ideas you may not have considered. And that is how you truly grow and innovate.