Preparing Your Marketing Activity for the New Financial Year During the Coronavirus Outbreak
The new financial year is coming and, as the Coronavirus pandemic continues to get worse, understanding the importance of marketing during these difficult times and when considering budgets is critical. Of course, with planning comes preparation and with preparation comes putting aside a budget for all your marketing avenues – including your online marketing efforts such as SEO, Paid Search and Social Media. Our digital marketing experts have taken a closer look at how to prepare your marketing activity for the new financial year, below.
As a full-service digital marketing agency, we’re well versed in the world of marketing, providing our clients with new opportunities to reach their target audience and exceed their objectives. To find out how we can help you take your marketing campaign to the next level this new financial year, get in touch with our expert team on 0800 088 600, today.
Table of Contents
- What Makes A Marketing Strategy, A Good Marketing Strategy
- Building Your Marketing Strategy
- Putting Your Marketing Plan Into Action
- Utilising Past Campaign Data
- Next Steps
What Makes A Marketing Strategy, A Good Marketing Strategy
A “good” marketing strategy can be defined in a number of different ways and strategising your coming activity can be determined by the previous years achievements and notable celebrations. Taking a step back from your day to day activities and looking at your overall vision will help to select the next steps to take, whilst ensuring that your tactics don’t stray too far away from your aims and objectives for the new financial year ahead.
Of course, things are likely to have changed in the last year. You may have seen some competitors drop off the radar, but others may have also ramped up their marketing game to compete at a higher level. To better understand your businesses current position, conduct a SWOT analysis.
Conducting a SWOT analysis is likely to reveal how much your target audience may have changed and whether your marketing efforts are still effective. If you’re looking to introduce a new product or service or have recently done so, now is a great time to reach out to new audience. But, how do you build your marketing strategy accordingly?
Building Your Marketing Strategy
A marketing plan is often made up of multiple components, each acting as a “point of sale” for the business in question. Of course, marketing isn’t limited to the billboards around us, extending to Public Relations, Email Marketing and SEO. Multiple components may make up your “overall” marketing strategy which may include:
To lay out your marketing plan for the new financial year, you need to identify what components you want to include in your marketing strategy. For example, if you do not produce any print advertising or collateral, you can untick these options. However, if you are likely to focus more on Direct Marketing, Public Relations (PR) and Social Media in the new financial year, then you may also need to make room for a Paid campaign to drive your brand awareness campaign(s) forward.
Before planning what budget will be spent where, you need to breakdown your high-level objectives which are inclusive of your:
Putting Your Marketing Plan into Action
Of course, it’s not quite that straightforward to put your marketing plan into action as there are a number of other elements you need to take into action when preparing for the new financial year.
Before you even begin reviewing your current marketing strategy, there are a couple of points you need to cover:
Utilising Past Campaign Data
Past campaign data can help to shape your marketing strategy, allowing you to identify highlights and lowlights of your marketing based on the previous year. It can all be put to good use and help to determine what long-term results you can expect from switching up your marketing strategy. In some cases, a handful of your campaigns may only require a small tweak or change to generate better results, so don’t scrap these altogether! Their results are still viable and, with up to date insights on your target audience, you may be able to repurpose existing materials.
If you haven’t already started to prepare your marketing strategy for the new financial year, there’s no better time than now to do so. With understanding of how past campaigns performed and how your target market has changed over the past 365 days, you can determine the best marketing strategy for your businesses aims and objectives
As a full-service digital marketing agency, we’re well-versed in all aspects of digital marketing from SEO and Paid Search, to Web Development and Design. We offer:
- SEO: SEO is one of the main services that we offer, helping small, medium and large business remain at the forefront of the search marketing industry through boosting their visibility.
Check out our case study with The Printed Bag Shop.
- PPC: Our Paid Search specialists help our clients to stay in control of their online advertising through creating ROI-driven PPC campaigns at a minimal cost.
Check out our case study with the National Childbirth Trust.
- Social Media: Connecting with you audience across a number of platforms is more important than ever. From Facebook and Twitter, to Instagram, Pinterest and even YouTube, we can help to promote your business through create social media strategies.
Check out our case study with ILX.
- Content Marketing: Promoting your business’ expertise with valuable content is key, helping to inspire you audience and keep them engaged.
Check out our case study with Ladbrokes.
- Web Development: Boosting the performance of your website is key for the new financial year, helping to make your website more accessible. We create websites that are not only flexible, but user-friendly, optimised for search engines and are responsive.
Check out our case study with Window To Travel.
- Web Design: Making an impact is about more than just have a good web design; it can help to producethe brand and website that you’ve always dreamed of.
Check out our case study with Longevita.
- CRO: Through CRO, we take guesswork out of the equation, helping to convert your customers in the most effective way possible.
- Analytics: Through analytics, we can predict and overcome future challenges and create strong, optimised strategies to exceed expectation in terms of delivery and results.
- UX: With all of our campaign, we like to personalise the experience in order to ensure we continue to promote valuable journeys for all of our clients and their customers.
To find out more about how Absolute Digital Media can take your marketing strategy to the next level, get in touch with a member of our expert team on 0800 088 6000, today.