Building your 2024 marketing strategy
As we head towards the new year (yes, it's just around the corner), it's time to craft your 2024 marketing strategy.
You know, that important plan that outlines your goals, your ideal clients, key messages and a plan of marketing activities.
But, before we start building your 2024 marketing strategy, let's take a moment to understand why it's so crucial for your business.
Why is a Marketing Strategy Important?
Having a solid marketing strategy is about who your ideal clients are, and understanding their needs and preferences so you can then find the best ways to connect with them.
When you have a marketing strategy in place you're more likely to attract the right clients, build their loyalty, and achieve more sales. So, let's get strategic and build your 2024 marketing strategy!
So, how do you build your 2024 marketing strategy?
Let's break it down into five simple steps.
1. Review your 2023 marketing strategies
The first step in building your 2024 marketing strategy is to take a step back and look at the year that was.
Look at your data and analytics to work out what marketing activities delivered the best results.
And understand why those strategies worked and how they aligned with your business objectives.
By incorporating these insights into your plan, you can build on your past successes and maximise your chances of achieving your goals.
Now, let's not forget about those marketing activities that may not have performed as expected.
Instead of brushing them aside, look at them as learning opportunities. Take the time to analyse what went wrong and why.
Was there a problem with the execution, a misalignment with your target audience, or perhaps an unforeseen external influence?
By understanding any less successful strategies, you can either drop them entirely or refine them for further testing and improvement.
Learning from the past is an important aspect of keeping up with the constantly changing marketing world. And looking back at what worked and what hasn't is an important part of building your 2024 marketing strategy.
2. Define your 2024 marketing goals
After you've reviewed your past year it's time to set goals for your 2024 marketing strategy.
According to Coschedule, “organised marketers are 675% more likely to report success”.
And being organised means setting your marketing goals so you know what you want to achieve.
Of course, your goals need to be SMART (specific, measurable, achievable, relevant, and time-bound), so you have clear targets to work towards.
Your goals can be anything you want! Perhaps you want to increase traffic to your website by 50%, or maybe you want to launch a new product and achieve $10,000 in sales. Or perhaps you want to improve customer satisfaction by implementing a new customer service strategy.
Just remember, whatever your goals may be, make sure they align with your overarching business objectives.
3. Are your ideal clients still the same?
Your ideal clients are a crucial part of your 2024 marketing plan.
But here's the thing, ideal clients aren't set in stone – as the world changes so too can your ideal clients.
To make sure your ideal clients are still relevant in 2024 here are a few things to look for:
- Have you checked out your sales lately? If you notice a decline, it could mean that your target market is losing interest in your offerings.
- Keep an eye out for any changes in demographics. If your target market is getting older or moving to new locations, it might be a good idea to adjust your marketing strategy accordingly.
- And don't forget to stay on top of your competition! If new businesses pop up, targeting the same market as you, it could be a great opportunity to reassess your position.
By staying aware of these changes, you can make sure your business stays relevant and successful in the long run. Remember, we're here to support you every step of the way!
4. Choose your marketing activities (aka build your marketing plan)
With so many different marketing activities available, it can be overwhelming to choose which ones will work best for your business.
However, with a clear understanding of your ideal clients and goals, you can narrow down the options and focus on the most effective ways to reach, connect, and engage them.
Some popular marketing activities include:
- Social media platforms such as Facebook, Instagram, TikTok, X, LinkedIn, and Pinterest.
- Email marketing through newsletters or targeted campaigns.
- Content marketing such as blogging, videos, podcasts, and eBooks.
- Search engine optimization (SEO) to improve your website's visibility on search engines like Google.
- Traditional marketing activities, like print, radio, networking & sponsorships are still relevant and can be highly successful if that's where your ideal clients are
It's important to not spread yourself too thin by trying to use every single marketing activity available.
Choose a few that align with your goals and ideal clients, and focus on those.
5. Create a budget and timeline
Now that you have your goals, ideal clients, and marketing activities all worked out, it's time to create a budget and timeline for your activities.
Your budget should cover everything you need to deliver your marketing activities, such as advertising, content creation, and any marketing software or tools you may need.
It's important to not overspend but also not underspend, as your budget will directly impact the success of your marketing efforts.
If you're not sure how to set your marketing budget, check out my blog, Setting Your Marketing Budget.
Then, once you have a budget in place, create a timeline that includes deadlines for each activity and when it should be completed. This will help keep you on track and make sure all your marketing gets done.
Building your 2024 marketing strategy may seem like a daunting task, but by following these five simple steps you can create a marketing strategy that will help take your business to the next level.
Remember to review and adjust your strategy as needed throughout the year to help you keep on track and achieve your goals.
If you need any further assistance in creating your 2024 marketing strategy feel free to get in touch.