How to Grow Your Business in 2021
December 10, 2020
With the end of 2020 in sight, businesses are starting to look towards, and plan for, 2021. 2020 has been a rough one for a lot of businesses, and with uncertain times and a changing economy, it’s more important than ever to be prepared for what 2021 has in store. Marketing is one of the most important aspects of any business, so in this post, we thought we’d give you some tips on how to grow your business in 2021.
Here at Racer Marketing, we love lofty goals and interesting challenges. If you have goals for 2021 that a marketing agency could help you reach, then we’d love to have a chat with you to see how we can best support your business.
Move with the marketing trends
Trends come and go, but they’re not to be ignored. Trends like marketing automation, are helping companies grow exponentially. Video marketing is another example, which is helping companies reach a wider audience and improve trust in their brand. It’s often said that the early bird catches the worm, and there’s nothing more true when it comes to marketing, with early adopters often getting the best results at the cheapest rates. By moving with the trends and taking advantage of them early on, you can help your business grow to new heights in 2021.
Manage marketing risk
Marketing risk is something not talked about often when it comes to digital marketing, but managing it is an important part of a successful marketing campaign. The importance of this was seen just last week, when Google rolled out its new December 2020 core update. Within a day, millions of businesses were dropped in the search results just before the holiday season, with millions of other businesses seeing strong growth. Social media channels have also shown to be risky at times, with organic reach diminishing to a mere trickle for companies who spent years growing their social media presence. Marketing risk is a part of marketing you can’t avoid – no risk, no reward…
Managing this risk by spreading your marketing efforts over different channels, ensuring you have a strong foundation of truly owned media, and working with experts who can help anticipate risk and mitigate negative effects if they do occur, can help you navigate the digital marketing space far more effectively.
Here at Racer, we cover a range of different marketing verticals to ensure you’re not left exposed. With strong branding, great content, and a presence on a range of different marketing channels, you can ensure you’re in the best position possible.
Don’t forget that the customer is king
The shift from a transactional relationship to a caring relationship between customers/clients and businesses has been going on for years now. However, it’s a shift that will continue well into the future, with more and more companies offering better terms and conditions, free information, and better all-round service. Where large companies have the advantage of deep pockets, we think it’s the smaller SME’s that have the upper hand here. With the possibility to provide personal customer service, small businesses have the chance to gain ground on the larger companies that have had the upper hand over the past ten years.
Good branding can help you meet and even exceed customer expectations. This, in turn, leads to more revenue and a better experience for your clients. You can read more about customer expectations and branding here on our knowledge hub. This brings us to our next tip…
Don’t skimp on your branding!
No matter what marketing trends do, branding remains one of the most overlooked parts of any marketing campaign. Good branding helps mitigate your marketing risk by creating a loyal following and engaging your target audience. It helps you to stay top of mind, improve your reputation, and keeps your company meeting and exceeding expectations. Large companies already know this and have been using branding as a driving force of their marketing for years. It’s common to see smaller companies that do pick up on this grow quickly as they gain a loyal following. It has never been easier to reach a large number of people, but simply trying to sell to them at every turn isn’t going to do you any good. By establishing your unique brand, you’ll be able to use the possibility to reach a lot of people far more effectively.
If there’s something we all should have learned from 2020, it’s that we should embrace change and move with it instead of trying to resist it. New opportunities and challenges come and go, some more impactful than others. Recession and fear are two things that cause a lot of companies to stop investing in their marketing when it’s actually the perfect time to double-down. Reducing your marketing spend is an easy way to cut costs, but the cost to your business can be even more severe if you stop growing in a time when your clients may order less, or even stop completely.
In a time when the economy has taken a hit, investing in your marketing can be a great way of turning a challenge into an opportunity. The cost of marketing reduces during this time, as ad spend goes down, companies go out of business, and there’s less competition on the different marketing channels. Embrace change and look for the opportunities that come with it!
Growing in 2021 and beyond
There’s no doubt that 2021 is going to be a year full of uncertainty, so it’s more important than ever to ensure your marketing is effective. By spending your pounds in the right place and working with an agency that can get you results, you can give yourself the best chance of growing your business in 2021!