It’s the 11th hour in our 2023 business odyssey. We stand on a metaphorical dance floor, where each strategic step sways us closer (or further) from our desired year-end revenue goals. Navigating through this can be a groovy adventure or a misstep into chaos – it’s all about hitting the right moves!
A Standing Ovation for Your Marketing Ballet
Regardless of the footprints left on the dance floor, every twirl, leap, and step toward your marketing and sales aspirations deserves applause. Whether your B2B symphony saw nurturing leads and thought leadership or your B2C dance celebrated customer acquisition and brand visibility, let’s cheer for the strides made toward those year-end revenue goals!
Let's celebrate your accomplishments thus far, regardless of whether they mirror your initial intentions. You've invested time, effort, and sacrifices to propel your business forward, which deserves recognition. If you haven't reached where you hoped to be by now, be kind to yourself. Rather than dwelling on unmet expectations, compare your progress to your starting point.
To guide your evaluation, here are some questions to ask yourself and your team:
Have our B2B marketing efforts effectively nurtured leads and contributed to our sales pipeline?
How well have we positioned ourselves as thought leaders and experts in our industry through our content and thought leadership initiatives?
Are our customer retention and account expansion strategies delivering the desired results?
How much of our business came from existing accounts vs new revenue streams?
Do we have a true point of differentiation from our competitors, and do our customers and prospects understand it?
Has our B2C marketing strategy resonated with our target audience, resulting in increased brand loyalty and customer engagement?
How successful have our customer acquisition efforts been, and have they led to a growth in sales and revenue?
Are our social media and influencer marketing campaigns driving the desired brand visibility and customer engagement?
Has our push for eCommerce sales or driving prospects to our retail storefronts met or exceeded goals or did we underperform?
Realigning the Choreography Mid-Performance
A masterful dancer embraces the fluidity of their movements, adapting to the rhythm and space. Similarly, being agile with your marketing choreography—particularly when the stage (aka the market) changes—is crucial.
Consider whether your initial marketing goals for the year still resonate with your business's current state. Have major developments, such as changes in market dynamics or customer preferences, altered your marketing priorities? Given the evolving context and circumstances, it's likely that your marketing goals need adjustment. Reflect on what will be most beneficial to your business at this juncture. Perhaps one marketing objective takes precedence, and KPIs like revenue targets may need revision, or you may opt for an entirely new marketing direction, including expansion into new vertical markets.
To offer you a glimpse of sample revenue plans:
B2B Revenue Plan:
Refine or redefine lead generation strategies to increase the number of qualified leads in the pipeline.
Strengthen customer retention efforts through tailored account-based marketing campaigns.
Launch a targeted email marketing campaign to upsell and cross-sell to existing clients.
Build closer, more collaborative relationships with sales.
B2C Revenue Plan:
Optimize e-commerce platforms for a seamless customer experience to boost online sales.
Launch seasonal marketing campaigns for holidays and special occasions to increase customer acquisition.
Leverage data-driven insights to personalize product recommendations and increase average order value.
Considering the available timeline for the remainder of the year, set pragmatic expectations for your revised marketing goals. Define your primary marketing objectives and break them into manageable tasks - chart actionable steps on your marketing calendar. While doing so, continually assess the feasibility of your marketing goals. If some objectives won't be met this year, consider them for your 2024 marketing wishlist.
Anticipating the Unforeseen Acrobatics
Unseen flips and twists? Anticipate the obstacles that may arise in the coming months. How might seasonality, market trends, or competitor actions affect your ability to achieve your marketing objectives?
Develop strategies (scenario planning) to surmount these marketing challenges, creating a contingency plan to navigate them seamlessly. Embrace flexibility, for marketing is inherently dynamic. An adaptable mindset will bolster your resilience in the face of change.
Keeping the Rhythm
In the pursuit of our marketing symphony, commitment to your chosen strategy, albeit with flexibility, remains key. Revamping your marketing goals for the remainder of the year is futile unless you're committed to their realization. Pledge to invest your utmost effort and budget in achieving your marketing objectives. While external marketing obstacles are beyond your control, maintaining your motivation and commitment is well within your power.
Throughout the year, diligently track your marketing progress. Allocate time for marketing reviews and metric assessments at regular intervals (at least quarterly), allowing for adjustments as needed. Adaptability is your ally, and awareness of your marketing progress and priorities is your guiding star. Celebrate the small marketing victories, which are the building blocks of larger marketing successes. Make sure to share these successes with all of your employees.
A gentle reminder as you dance through the rest of the year - you can seek out a partner to hold your hand as you leap into the grand jeté of strategy refinement.
Here at Craft, we know many dances and can best help you master the steps to your business success!