GOALS

Goals are the framework of planning. You have to know your destination in order to get there. When creating goals for your business, follow the S.M.A.R.T structure. S.M.A.R.T stands for specific, measurable, achievable, relevant, and timely. Typically, each “department” should have a goal. Examples would be sales goals, marketing goals, and product/production goals. Once you have your goals in place, you can move on to building a budget.

BUDGET

Creating a budget is a task that should happen early on in the planning process. We typically tell our clients that their budget should match their expectations. Of course, everyone would like to double in sales overnight with little to no marketing budget, but typically that isn’t the case. Being realistic is key when planning for your marketing budget. A good rule of thumb is to look at what your business has generated in the past. We say that businesses that are looking for growth should plan a marketing budget of 7-12% of total revenue. To learn more about creating a marketing budget, PMG has a blog all about organizing a budget here.

EVALUATION

It’s time to reflect on the past year! Take an in-depth look at what worked and what didn’t work for your business. Thoroughly view all your current marketing tactics like website design, social media marketing, blogs, and any other marketing pieces you may be utilizing. Take notes as to what your audience liked and didn’t like. What promotion increased your phone traffic? What post did your customers really engage with? What blog was a miss? Also, take into consideration your current branding, does it still represent your business, or does it need an upgrade? By examining your current marketing, you can have a guide as to what to plan for in 2023.

TIMELINE

So now you have your goals, budget, and tactics ready to go. Now your ideas can become reality! Timelines are important for your marketing strategy in order for you to stay organized and hit all the tactics you want. Keep in mind that some marketing material may need to be based on timing. For example, if you are a product-based business you will want to ensure your marketing content is out before a new product launch. Typically, in the marketing world, plans are based on quarters and then from there, monthly. This can make your plans adjustable as needed. However, there is no right or wrong way to create a timeline.