Maximize Your 2019 Marketing Strategy & Budget
As we come to the end of 2018 it is a time for both reflection and excited anticipation. Businesses must look back on the previous year to see what they have achieved and what could be improved. This must be done before you can accurately and effectively make a business plan and marketing strategy for the coming year. It is important to plan your budget ahead to give you the time to maximize your budget and effectively execute your strategy to meet marketing goals in 2019.
Reflect on your 2018 Business Marketing Strategies
A good marketing strategy begins by looking at what types of marketing efforts have previously been successful at reaching your key demographic and provided a good return on investment (ROI)? By looking back on all of your marketing efforts you can compare what did and did not provide a good ROI so that you can determine what you want to carry forward and what should be left behind. By ‘trimming the fat’ and choosing only your most successful marketing efforts you maximize your marketing budget in the coming year.
Set 2019 Business Marketing Goals
To begin planning your 2019 marketing strategy and budget, you must assess past success and future goals. Not sure where to start with your business marketing goal setting? Just remember to set ‘SMART’ goals:
Next, it is important to determine what you hope to achieve for your business in the coming year? Do you want to increase brand exposure? Are you trying to market to a new audience? Will you be attending trade shows or need a lot of printed graphics as part of your media strategy? Will you need promotional products as part of your marketing campaign? What type of marketing will provide a good return in the coming year? There are so many ways to market your brand including traditional print media, television, radio, direct mail, email marketing, social media marketing, influencer partnerships, etc. – how many do you want to use and how much will it cost to execute your strategy?
Set 2019 Marketing Budget and Start Executing Your 2019 Marketing Strategy!
By now, you are able to see if your company was able to achieve goals with the marketing budget and strategy in the previous year. That knowledge, paired with your marketing goals for the coming year, gives you what you need to formulate a 2019 marketing budget. Planning ahead lets you get the best possible prices on marketing materials and advertisements. Further, by planning your marketing strategy as early as possible, you have time to carefully create a marketing plan that most effectively conveys the message and branding you want for your company in 2019.