Prepping Your Business and Marketing Plans for 2020
The effort you put in at the end of one year can have a significant impact on how you start the next. This is a good time for settling accounts, getting your books in order, and conducting holiday marketing activities. But what are you doing to prep for the beginning of the new year–or in this case, the new decade? While this can be a hectic and distracting time, it’s vital you carve out time in your schedule to work on your 2020 plans now. Otherwise, you’ll burn away the first few weeks of January trying to catch up. So, take a deep breath, grab a cup of coffee and ask yourself, “What do I want 2020 to look like?”
Set Your Goals
Break down your various production goals into monthly or quarterly increments. This is an efficient way to track your progress and determine whether you need to make any adjustments to your plan. Set up a document outlining your monthly/quarterly production goals and split those goals into specific categories. As the year progresses, compare those goals to your results. This will give you an organized and detailed overview of your growth. Aside from production and revenue, consider the other goals you’d like to achieve over the next year. Do you want to target new markets? Or bring on new employees? Outlining any operational, administrative, or non-specific goals is an important part of staying focused on the big picture.
Establish a Marketing Budget
Make a list of the different marketing activities you use or would like to explore in the new year; web development, seminar marketing, community events, lead gen, etc. Now, assign a dollar amount you feel comfortable spending on each. This won’t be a concrete budget, as changing trends and results will likely call for periodic adjustments. But it will give you a foundation on which to build your overall plan of attack. Plus, you can start the year off with a better idea of the returns you would like to see from each investment.
Personal & Professional Development
Your plan for a bigger and better 2020 should include quantifiable metrics such as goals-versus-results and revenues-versus-expenses. Think about steps you can take to grow as both a person and a professional. What can you do to better serve your clients? How can you build credibility? What are your strengths and weaknesses? You might be a financial guru who could fill a book with retirement advice but need to brush up your writing skills. Or maybe you want to tap into video marketing but tend to freeze up in front of the camera. We all have those areas in which we could use some improvement, and they certainly don’t take away from our tangible job skills. However, pinpointing certain weaknesses and working to overcome them can be very beneficial to your business. Think of personal/professional development as a list of new year’s resolutions you won’t forget about by the end of January. For example:
- “Sharpen my writing skills and improve the quality of my original blog content.”
- “Learn more about generational marketing so I can more effectively target Millennials.”
- “Keep up with emerging trends in social media marketing.”
- “Practice my on-camera presence and delivery for video marketing campaigns.”
The examples above may not be what you think of when drafting a marketing plan but can have a significant impact on how well you execute that plan.
Obviously, there is so much more you will need to consider for the year to come, but it’s important to start somewhere. And just as important to get started ASAP. Get in touch and let us know how we can help.