The year is winding down to an end, and we are fast approaching the holiday season. Before long, the new year will be upon us, and so will the time to make our resolutions and plans for the upcoming year. As you start looking forward to what 2023 might hold for you and your company, here are some things to keep in mind while you plan your marketing strategy.
Updating The Brand
Sometimes there is a misconception that branding is something you decide on when you start your company and continue through until the end. Yet trends come and go, and consumers’ needs change. Whether it’s just a small tweak here and there or a complete rebrand, there are ways that your company can benefit from planning out a path for your brand to evolve.
Changing up your branding can do a few things: it can help attract new customers, set you apart from your competitors, allow you to stay current and relevant, and also shows your current values. Therefore, putting the effort into evaluating where your brand is at and how it might change in 2023 can be essential for success. Maybe your customer base has grown over this past year, or you’ve realized that your company might be a little too similar to a competitor’s. Putting the effort in to update your website, packaging, and campaigns can go a long way into keeping your brand in the mix.
Be realistic. Many lofty ideas might be tossed around as you set your goals for the year, but however big you dream, it is essential to have attainable targets achievable through your budget parameters. For example, if you plan to open up another media channel in the new year to expand your reach, make sure that the budget can support this alongside your previous channels. The growth of a company means expansion, not reallocation.
However, if you have realized, as you reflect on the previous year, that certain marketing tactics have yielded a low return on investments, this would be the time to decide how to move forward. Whether you decide to adjust the frequency, format, technologies, etc. to generate sufficient results or allocate that portion of the budget towards a new pursuit, planning can help you better strategize and strengthen your campaigns.
Partnerships and Collaborations
More and more, we are beginning to see companies collaborating with creators, celebrities, and other brands. Although it’s crucial to build up your base of loyal customers, partnering with another community is a great way to expand your reach to an audience you might not have been able to organically reached.
Collaboration also opens up different pathways for your brands that might not have previously been possible. You can invest much less time and effort in pursuing new projects when partnering with another brand that is already an expert in that field.
Think of user-generated content, or UGC, as the new word-of-mouth. While content created by your company may be more professional or in line with current brand aesthetics, consumers' content can often appear more trustworthy to an audience. Similarly to how a collaboration would be helpful, UGC allows you to tap into a community that already has loyalty built into it. Whether it takes the form of unboxing videos, photo tags, or reviews, UGC allows content to appear more authentic; thus, allowing your brand to shine through.
No matter how your 2022 went, the new year is always a time for a good reflection and refresh. Whether you’re planning to build on this year’s momentum or starting anew with fresh strategies, it’s time to begin organizing your marketing strategy for a successful 2023.