The first quarter of 2012 is here and what is your marketing strategy? If you haven’t thought about your 2012 strategy, now’s the time to get moving. I’ve talked about strategy before, but now’s the time to lay our your strategy. Everyone is doing it, what about you?
If your business survived 2011, you’ll want it to survive 2012. The coming year will a much easier year than 2011, but you’ll still need to do some planning. Some things to consider:
1. What will you market the first quarter of 2012?
2. Who are your target markets?
3. How much money will you have to spend for 1Q12 marketing?
These are the first questions you need to ask yourself as a business owner. There are many more, but you have to start somewhere.
#1 What is your product and what will you market during 1Q12? Many businesses are not sure when to market certain products. Review past performance during 1Q of years past and decide what product does well during 1Q. If you are in the financial industry the first quarter may be the best time to market annuities or 401k plans. If you are in the services industry this may be the time to market information or knowlege about your product new products for the upcoming year.
If there is a product that sells well in the send quarter, consider introducing it during 1Q and get the “buzz” started. You don’t have to do heavy marketing, just mention it during 1Q. I am working with a high-end clothing retailer who knows that 2Q is when people start making wedding plans. They don’t want to market weddings, but 1Q is when they’ll start mentioning their services. They also know that 1Q is when most job interviews happen, so they are starting their interview suit strategy. The clothing retailed knows their market and have built it around a combination of past performance and future prognotstication. Above all, put your marketing strategy together and go for it.
#2 Your target market. Take a look at your 2010 and 2011 target markets. Have they changed in the last two years? Is there a trend you need to take a closer look at? Does the trend point to a market you may have otherwise missed? For most businesses, the next two weeks will be slower than most weeks and is a good time to get answers to these questions. If you’ve developed your 1Q12 strategy already, review it for possible updates and talk to your teams. Get their input. If your target market is changing, change with it. Unless you want yur business to experience life support in 2012, don’t get stuck in the “this is the way we’ve always done business” syndrome.
#3 Once again, review previous years performance, especially 1Q11. The first quarter of 2011 is probably your best barometer for first quarter of 2012. Review your print media, radio and televeision marketing. Was it successful? Did it hit your target market and how well was your message recveived? If you find a campaign worked, try it again. Dump the campaigns that don’t work. Keep up with the latest news about marketing. Radio, television and print media are having a hard time reaching your target audience. Although you can get great deals on radion, television and print marketing, ask yourself if you are throwing money down a hole. The reason for the great marketing deals is because advertisers can’t sell marketing space because it has a very small ROI. Go where the people are; social media. There is an awesome social media company out of Omaha that is doing a great job for their clients. It is called Affordable Social Media. They are a small company, but have a breadth of experience that is unmatched by other social media companies.
Above all, stay within your marketing budget. If you do you own social media the greatest expense will be your time. Social media has to be attended to and maintained to get the best return on your marketing. If you can’t devote the necessary time to social media, hire someone who has the experience and knows how to “carve out” your area in the internet. If you’re not in social media yet (social media is more than Facebook….sorry Zuckerberg), get into it soon. More businesses will launch social media campaigns in 2012 than ever before. If you are unsure about social media, contact Affordable Social Media and talk to them about their services.
Always be forward looking. Look for trends and be ready to change your stratgey to adapt to new markets. Tap into a market that may have otherwise been untapped. The upcoming year will be awesome. Take advantage of it now.