Ready. Set. 2024

December-email-image

It’s here – the end of the year. It is time for holiday gatherings with family and friends, chilly weather, pulling out warm clothes, a snowflake or two in the air, and getting your marketing plans in order for the new year.

We have been engaged this autumn with our clients for whom we provide CMO services to help them be ready for 2024, but if you have not started yet don’t worry – we’ve got the short list for you to consider.

Presuming you have an established brand and an overall marketing strategy aligned with your overall business strategy, here are the seven most important marketing planning elements for you to consider for your business: 

  1. Understand How You are Doing: Begin by assessing the performance of your current marketing efforts. Analyze your marketing campaigns, website traffic, customer engagement metrics, and overall sales figures. Identify areas where you excelled and areas that require improvement. Quite simply if it worked, do more – if it didn’t, do less.
  2. Have Crystal Clear Goals: Establish specific, measurable, achievable, relevant, and time-bound (SMART) goals for your marketing efforts. We find this element is often done improperly, with Achievable and Relevant being the two factors that fall short. Here is an example of a SMART goal: Generate 10 qualified leads per month for our CMO service from the outbound marketing campaigns. It is truly SMART if growing the CMO service is aligned with the overall strategy and if ten leads per month are realistic from both a budget perspective and the firm’s ability to handle 10 leads per month. 
  3. Stay Close to Customers and Prospects: Make sure you have a deep and current understanding of your target audience. Confirm their demographics, interests, pain points, and buying behaviors. Creating detailed buyer personas to represent different segments of your target audience helps you maximize the effect of your marketing campaigns. And focus on “current” – last year’s tactics applied to this year’s targets may perform poorly.
  4. Stay Close to Your Competitors: Just like targets change, so does the industry and the competition. Analyze your competitors in the market to identify their strengths, weaknesses, and strategies. This will help ensure your brand retains its differentiation and your business retains its competitive edge.
  5. Make Sure You Spend Enough: Determine a realistic marketing budget based on your company’s financial resources and the scope of your marketing plan. Prioritize your marketing activities and allocate funds accordingly. As mentioned in #2, the amount of spend is directly related to the aggressiveness of the goals. And, as mentioned in #2, make sure you spend on the infrastructure to support goal achievement.
  6. Do Regular Performance Checks: Continuously monitor the performance of your marketing campaigns and measure your progress towards your SMART goals. Use data-driven insights to refine your strategies and optimize your marketing efforts. Do not wait until next December to review performance, do it regularly throughout the year.
  7. Measure Relative Contribution: In a forest and trees distinction, make sure you measure how each marketing tactic is contributing towards the overall goals of the firm. This is a little different than #6, but also do not let underperforming efforts be masked by overperforming that are allowing you to hit your overall objectives.

And if you do not have an established brand or a marketing strategy in place that you are proud of, do not worry. Finish those first, then follow the seven steps. A little late is not the end of the world, and as long as you are working towards these goals your business will soon be well positioned to execute and prosper.

To learn more, contact JQLaCorte: info@jqlacorte.com or 203-571-8067.

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