It’s that time again. People are making lists of things they want to change, things they want to do less, and things they want to do more of in order to improve their lives in the upcoming year. The changeover to a new year can be cathartic and feel like a new beginning. As we all know, follow-through on resolutions tends to weaken partway through the year. The personal consequences tend to be minimal and go unnoticed.
The new year is also a great time for businesses to adjust their goals and make resolutions of their own. Here are some changes that we suggest for businesses in the new year and how they relate to those token resolutions we hear all too often. Unlike those personal resolutions, a lack of follow-through on these can be very costly.
1. Spend More Time With
The old adage “what gets measured, gets improved’ still rings true. Still too many marketing efforts are shots in the dark. As more and more people spend time online and do business there, measuring everything has never been so achievable.
2. Focus on
Don’t just count traffic; track conversions
Advertising agencies have historically done a great job of “driving traffic”. While traffic is important (web, in-store, or otherwise) , it’s useless if it’s not being met with quality content or value propositions that establish connections and ultimately create conversions. Measure these conversions rates. Perhaps the most basic way to improve them is to view this traffic as it really is: real people.
Weight Unnecessary Marketing Initiatives
While millions of people are hitting the gym to rebound from a holiday season of indulgence, your business can be doing the same by trimming your marketing efforts. Instead of continuing to travel down older marketing avenues while trying to dip your toes in every new, seemingly cheap online or social effort, focus on the ones that are measurable and suit your competencies. Spreading yourself too thin will eat up a lot of time and money. If you’re having trouble deciding where to direct your focus, take a page out of Gary Vaynerchuk’s book who said it’s as simple as “Go(ing) to where people are to get them to do what you want them to.”
Help Listen to People
Learn Something New Get Feedback; Embrace the Negative
Too many marketing decisions made either on a whim or for poor reasons. These shots in the dark often end up as costly misses and sometimes even end up doing more harm than good. A research stage should take place before any marketing initiative is executed. Finding out what people love, hate, and are indifferent about regarding your company can help you make important changes to improve what people tell others about your company and develop long-term relationships. Embracing the negative feedback will likely be both the most difficult part and the most rewarding part.
Stop Start Smoking…Smokin’? (K, so this one’s a bit of a stretch – but still important)
Focus on the BEST Part of Your Company
Many attack the new year with a plan to incessantly put their best foot forward and show the world they’re a force to be reckoned with. At Strategy Lab, we believe that identifying the best and most easily talked about part of your business is an important part of the research stage. Once you’ve discovered what it is, go forward with confidence and build your marketing around it. This way, you can be smokin’ without blowing smoke.