Can’t we just fast-forward to 2021? It feels like 2020 is a trial year and we all failed miserably. So, can we have another go next year? Maybe we’ll do better. Okay, scratch that. We will do better. There should be nothing worse than the year we’re having right now. Businesses can look forward to 2021 and start building a Lakeland marketing strategy that’s built for resilience.
Do Not Hoard Your Budget
The markets have officially entered recession last summer. So far, we’re doing pretty great considering what this year has done to many industries. The strangest thing happened, though. Instead of businesses investing in advertising, they actually held back their money. At a time when businesses need to move forward, they hoarded their budget. For what? Advertising dropped by 13% this year, which goes to show that companies are not advertising the way they used to.
In a study, it was found out that during the 1990-1991 recession, companies that retained their marketing budget and increased their advertising campaigns grew the following year in 1992. It can be said that their actions managed to propel them to further success even amid the recession.
So, the perfect advice would be to spend on your marketing in 2021. This year has been a tough one and it’s okay if you were a little conservative with your finances. But come 2021, you have to fight off this coronavirus.
Allow these changes to mold your entrepreneurial skills. It is extra hard to survive this year as a business but it is almost December. If you have made it this far then congratulations, next year is a new day. Remember that you should not be focused on one marketing goal alone. You need to learn to be flexible enough. You have to know how to adjust the parameters of your marketing goals. What are your metrics beyond return on investment? How about your contingency plans if something happens like this again?
Focus on Your Brand
Even if you’ve been shaken to the core, what remains with your business is its brand. You can rise from these ashes and still hold your brand dear to your heart. If your branding is working for you, there’s no reason why you should change it or adopt another one. You want your customers to remember your brand as something that they can trust. That is the focus of your Lakeland marketing strategy for 2021. You want your customers to trust you.