11 January 2021
Author: Linzi McGuire
As we recover from the busiest time of year, a lot of brands are asking themselves one question:
“What do we need to do to be ready for 2021?”
It’s not an easy question to answer. There’s really no standard equation that will prepare you for the year ahead. The plan that you’ll need to put in place and execute in order to maintain success and grow your business over the next twelve months – in an ever-changing environment no less - will look different than any other year.
So where do you start?
For many brands the first step involves taking time to intentionally reset and refocus. The festive shopping season is a chaotic time of year. It can take a lot out of businesses, and even entire teams.
Without taking time to reset and refocus after your busy season, you risk the future success and profitability of your business in the year ahead.
Here’s the thing though: resetting and refocusing doesn’t look the same for everyone… Here are 4 tips to consider if you’re unsure where to start:
To find out which goals you’ve met, and which didn’t go quite as planned, look back over the last 12 months in detail. The fuller the picture you have, the more informed your decisions will be about what should change or stay the same in 2021.
Consider what tools and resources you have to help you with this. What software will bring all the data together into one easy to understand picture? Do you have partners to support you with analysis?
And how do you benchmark success? Be sure to compare against your own strategic goals and the performance of your peers or competitors in the same marketplace and channels, where possible.
Lots of little goals can be hard to manage, especially if they’re all quite different or dependant on each other. 2020 was a year of disruption for everyone – how will you manage the contact change better this year?
Decide on one big, specific thing you want to improve on or add to your business and focus on what will help you to achieve that. Restructure, test and learn, enter new channels, find new partners? It’s all possible.
A lot can change in 12 months. Something you were heavily focused on in December could be out of date by February. If time, circumstance or environment have changed your business goals, it’s time to outline some new ones.
Are you keen to grow, or just want to keep doing what you’re doing? Do you want to reach more consumers or more outlets? Do you need to upgrade your team or your systems? These are just some suggestions to get you started.
When processes become gradually less effective, it’s not always easy to notice. Maybe compliance or ROI has slipped, or a competitor is working faster than you.
Think about your biggest challenges at the moment. You might need to dig into your data from multiple sources. This will show how results have changed over time, and what kind of action you need to take.
Look at the numbers and set new goals. Make sure you have a realistic strategy and know how, who and where you will execute this. Don’t forget to plan how you will measure success throughout the year – and if 2021 if anything like 2020 you’ll do well to ensure you’re prepared to pivot and flex as required over the next 12 months.
If you need help resetting your strategy talk to us. Register a slot for a free, no strings attached conversation whenever is convenient for you. Our experts will help guide you on where to start a set you up to sell more in 2021.
We will happily take a look at your plan for 2021 and give some advice on how you can Reset, Recharge and Reach your goals this year. Book time with our Strategy and Marketing Director Gordon Neil for your free assessment.