The success of your company relies on successfully marketing your services and your products. To that, you need to have a marketing plan. As we prepare to enter the new year, it’s time to start thinking about your business goals for 2022.
By creating a comprehensive marketing plan, you can avoid overspending on what doesn’t work and more effectively market to your target audience. This will help you stay on track and make sure your funds are allocated wisely and appropriately based on your goals and budget.
Before you can begin to plan for next year, you will need to have a good understanding of your performance over the past year. You could do this even if you didn’t have a marketing plan in place throughout 2021. We recommend evaluating the following of the past year’s marketing plan or activities:
What’s Your Current Situation?
To begin planning for 2022, you will want to first start understanding your current situation. Evaluate your strengths, weaknesses, threats, and opportunities. You will also want to evaluate the current market and see where you stand with your competitors. Consider looking at how other products or services outperform you and what other competitors are missing and what sets you apart from the crowd.
Who Is Your Target Audience?
Once you understand your situation, you can move on to determining your target audience. You can utilize your buyer personas to gain this information. If you don’t have a buyer persona, be sure to create one by performing market research. The persona will include demographic information such as income, age, and gender. It will also include psychographic information like goals and pain points for consumers. With this information, you can learn what dive your target audience is and what products or services you have to fix their problems.
What Are Your Goals?
If you want to improve your ROI, you need to set your goals. We recommend that you set SMART goals. SMART stands for Specific, measurable, Attainable, Relevant, and Time-bound. You want your goals to be specific and to have a time frame for when you want to reach these goals. Having clearly defined goals will help you analyze tactics that will help you reach your goals.
What Tactics will Help Achieve Your Goals?
You want to now focus on what tactics can help you reach your goals and the right channels and action items you need to focus on. For example, if you want to increase your followers on Facebook, your tactic may be to post daily and respond to comments, host a giveaway, or host a live product demonstration.
What is Your Budget?
Now that you have ideas to implement, you need to set your budget to put everything into action. Typically, your marketing budget will be 7-10% of total revenues.
For example, you may have included print advertising in your list of tactics, but you may not have room in the budget for it, resulting in you not achieving your goal.
Your budget is how much money you can allot to the marketing team to pursue the goals and initiatives outlined. You will want to itemize your marketing budget by what you will specifically use the money for. Some marketing expenses include:
With marketing services to meet all needs and budgets, our experienced team can help you craft a detailed marketing plan that will help you meet your goals while staying within budget. Make 2022 a success with Higher Images!