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Is your marketing better today than it was last year?
As we meet with clients for end-of-year review sessions and to continue planning initiatives for next year, we’re both forced to reflect on how well we’ve done. Have we reached our goals? Are things improved?
Are you tracking your key metrics?
I’ve written previously about establishing and monitoring key metrics to gauge the success of your business and marketing. And the end of the year is the perfect time to review these measurements to make sure you’re progressing. If you’re not, then obviously something has gone wrong… and it needs to be corrected.
Have you achieved your marketing goals?
I’m not simply referring to improving revenue - that’s a given. But have you accomplished the marketing goals you established at the start of the year? Perhaps it was to improve your social followers? Or to generate more qualified leads? Or to land “x” new clients? If you’ve missed an objective, the end of the year is the time to question why? What happened that prevented you from reaching your goal? Moreover, how will you deal with this issue in the new year?
Did you complete all your marketing tasks?
It’s really easy to be derailed during the year, until you reach the end and realize you never did get to this or that. It’s why a marketing plan is important to help guide you throughout the year. Sure, you’ll still need to adapt to changing market conditions, but if you have a plan for the year - and regularly scheduled reviews - you’ll find fewer items slip through the cracks.
If you’re better off today, great! If not, now what?
If things have gone well, you’re doing well and that’s terrific. Next year’s plan will hopefully continue your upward trajectory. But if things haven’t been working out - you need to examine why. New competitors? Dropping demand? Change in consumer attitudes? Or simply a poor economic atmosphere? None of these factors are insurmountable… you simply need to acknowledge the problem(s) and develop a strategy to correct the situation. So next year, during your end of year review, you can sit and sip egg nog and smile more.
Nov 21, 2014
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