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The New Year is right around the corner and now is the time to start preparing your marketing strategies for 2016! Entrepreneur gives a list of five steps to focus on in order to get ready for the New Year.

  1. Analyze your current situation

Creating a SWOT analysis is a great way to summarize your company’s current situation, both internally and externally. SWOT stands for your company’s strengths, weaknesses, opportunities and threats. The strengths and weaknesses represent the internal influences of your company such as, financial resources, physical resources, human resources and current processes. The opportunities and threats represent the external influences such as, market trends, existing competitors, economic trends and political and economic regulations. This will get you in position to start planning for the next year.

  1. Determine your target audience

You can do this by writing a simple paragraph describing what your audience looks like in terms of demographics and lifestyle. Include things such as age, gender, earnings and geographic location which will help you get an idea of who you want your prospective customer to be.

  1. Set goals for the New Year

Now that you’ve summarized your current situation and know the market that you’re trying to target, it’s time to focus on setting goals for yourself to accomplish this next year. What do you want to see in terms of sales growth when you look at your current situation in December of 2016? Try to set quarterly goals to keep you on track throughout the year.

  1. Develop strong marketing tactics

List ways to reach new prospects, as well as existing customers. Focus on forms of advertising, public relations and new ways to reach customers, such as social media, emails and other platforms. Since you’ve already determined your target audience, research the most effective ways to reach that market and what their needs are.

  1. Set your budget

Setting a budget and sticking to it are among the most important steps to getting ready for 2016. Find out what your bottom line is and where your money should be allocated in order to increase profit.

 

For a second set of eyes to walk you through developing a comprehensive marketing strategy, give AVMS a call at 615-348-7768. We’d love to get you on the right track for 2016!

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