Economists could never have predicted what a tumultuous year 2020 would prove to be. Two national lockdowns, the demise of many high street brands and the uncertainty of Brexit have all created the perfect storm for a difficult year of trading. Although there are some ‘green shoots’ particularly with the advent of a vaccine. There’s no denying that the start of 2021 will spell the survival of the fittest. So, what can we do as 2020 draws to a close to ensure our businesses are as robust as possible? Read on to hear my top tips on how to make 2021 a bumper year.
Back to Basics
When did you last review your business plan? If the downturn in trading has left you with more free time now is a great opportunity to create or revisit your business plan. Can you provide your product or service in a more accessible way? Perhaps incorporating video consultations to clients or moving the business online. Knowing what we know now heading into 2021 we should be fully armed with a fool proof business strategy.
Pivot! Pivot! Pivot!
The term pivot has shot into our vocabulary with many businesses looking at inventive ways to continue trading. The swerve, as some commentators are now referring to it, is a way of making your business COVID proof. Events companies distributing care packages for companies, pubs opening delis and businesses adding a new range of services. The ‘swerve’ is keeping many businesses afloat. Can you adapt or expand your services?
Budget
Relook at your budget, what can be cut back on or repurposed? Although it’s tempting to slash marketing budgets the only way to survive is by investing wisely in the business. Marketing is an integral part of this. So, start by looking at your budget and allocating a proportion to marketing activity. If budgets are tight look at activity which will give you the best ROI whether that’s a PPC campaign, paid social or email marketing the tools are there to make your £’s work for you.
Wellbeing
With many staff still WFH (working from home) it’s likely to have taken a toll on their mental health. After all, the workplace is ordinarily a sociable environment. Do your staff feel valued? With current restrictions it’s unlikely that many companies will be able to hold an annual Christmas party this year. What can you do to ensure your staff are happy and appreciated?
Brexit
With less than 1 month to go until the end of the transition period we will be working with new rules for trading with the EU from 1st January 2021 onwards. Are you ready? Do you need to look at having your qualifications recognised by EU regulators or do you need to apply for a work permit? Trading with the EU will be a little different next year make sure you’re not caught out.
Although 2021 seems a little daunting with the right professional help you can make it successful. To see how marketing can help you achieve your objectives get in touch to arrange a socially distanced consultation kiesha@iconmarketingcommunications.co.uk