5 Mistakes To Avoid When Finalizing Your 2023 Marketing Plan
Before you complete your 2023 marketing plan and budget, here are five common mistakes to avoid and steps you can take now to maximize your time and spending next year.
#1: Lack of clear and measurable goals and priorities
One of the most common mistakes marketers make is not setting clear goals, measurable results, and KPIs for their campaigns in relation to organizational strategies. Today's C-Suite requires seeing direct and tangible results from marketing spend. Success can lead to increased budget and support. Without clear goals, it will be difficult to succeed (or learn from next time).
Before the holiday, arrange a meeting with the heads of the main departments of the organization. Evaluate this year's marketing programs, examine results and impact, ask for honest feedback, you'll get it. Then finalize your service goals and expectations for the next year.
#2. Just set up last year's plan
While it's tempting to make some additional changes, everything about the economy, consumer confidence, interest rates, technology, and product demand will be different in 2023 than it was in 2022.
Reassess your priorities. Where can you cut stale investments, how to focus on more trackable tactics, what part of the conversion funnel is the most leaky and how to pull it up? Marketing strategies, goals and activities in the digital world are becoming more dynamic every year.
View your team's talent needs as well as available strategic partners to expand your team's capabilities and capabilities. While you're at it, evaluate the tools and processes you're using; Could you become more efficient by freeing your team from manual processes and making it more strategic and creative? Armed with best-in-class analytics and automation tools, how can your team change how they work in 2023 to deliver results?
#3 Use bad or low-quality data to make decisions
If your marketing plan is based on inaccurate, outdated, or limited member data, your entire strategy may fail. Be sure to use reliable data sources, research, trending information, and competitor tracking before making important decisions. Discover ways to amplify and improve the quality, value, timeliness, and understanding of participants' lives, needs, behaviors, and preferences. It's time to get serious about segmenting lifestyle and shopping habits based on transactional and behavioral data.
#4: Focus solely on attracting new members
Attracting new members is important to achieving your growth goals, but it cannot come at the expense of overall performance. Two things can go wrong here: the inability to cope with the loss (a huge number of UCs don't even follow through) or such a focus on growth that newly acquired members don't form strong relationships.
Watch out for key retention efforts to grow, serve and impact the financial health of your existing members. On average, attracting new members costs between $200 and $1,200. A targeted retention strategy and smart re-engagement programs can help reduce marketing costs by reducing churn and deepening existing relationships.
Prioritize onboarding programs and re-enrollment trips for existing members with advanced analytics and marketing automation to improve relevant individual communications and track daily results.
5. Do not underestimate and constantly improve
Finally, one of the most common mistakes marketers make is not regularly evaluating their initiatives and not allowing “institutional wisdom” to drive internal marketing discourse. Just because something worked so well ten years ago doesn't mean it's the best way to connect with consumers today. Today's marketing environment requires careful adjustment on an ongoing basis to improve efficiency and respond quickly to change.
Now is the time to put in place the processes and tools to make 2023 the most challenging and successful marketing year to date.
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