With 2009 just around the corner, many of us are in planning mode. Here are three things on my mind as we head into the New Year...
- The glass is half-full - It's easy to get bogged down in bad economic news and assume all you can do is pull back and wait. Of course, that's not how strong businesses are built. In fact, what better time to get out there and capture market share when your competitors are not? This can be a great time to get more share of the stage in your industry, so find ways to take advantage.
- Time to focus - With everyone stretching dollars, take a hard look at what's working and what's not. Are you spreading your resources across six initiatives when only two are really working? Call me self-serving, but have you thought about scrapping the expensive print ads in favor of cost-effective tactics like PR or online marketing? Limit your focus and, whatever you choose, fund it properly and do it well.
- Consider "A" and "B" budgets - The truth is, none of us know what will happen in 2009. Rather than assume worst-case-scenario, why not make a plan and budget for the essentials ("A") and add in other considerations tied to performance metrics. For example, "commit to the Fall User Forum if we hit $1.5M in revenue by June 1." This approach can keep you thinking proactively without overextending.
This January looks quite different than the last one, but for the savvy companies among us, that can spell big opportunity. So, take a day off from the bad news, focus on what's right about your organization and create a path to success in the New Year. If you need a little jump start, view the following presentation on marketing planning for a refresher. Happy Planning!