As we approach the final quarter of 2024, companies are in the midst of planning their budgets and key activities for 2025. We know from experience that navigating branding and marketing tactics and budgets Is often done based on what was done in the past and some rough ideas of what might be helpful for the next year.
However, if you want your brand and marketing to have a stronger impact, we recommend aligning your plan to your business goals and breaking it down accordingly. In this article, we want to inspire you to see how structured and strategic planning can make all the difference in reaching your business goals without overspending or wasting valuable time. Of course, we are here to help if you need new input or if you lack time.
Why Marketing Strategy Matters for Companies
We often see companies jumping into marketing tactics driven by a personal impression of what is right. Even worse, external parties like investors sometimes drive the choice of channels— Google and Facebook ads might become a top priority, and the same good old events make it to the top.
While these activities can be powerful, they are not a one-size-fits-all solution. Let’s talk about Google ads: For many technical service providers whose products and solutions are innovative and solve complex problems, paid ads might not yield the results you expect or get you the right exposure and leads. And mingling with the “same old tribe” during your “event evergreens” will not necessarily bring new contacts or impetus.
Instead, your marketing approach should align with your broader business goals and vision. We propose four critical questions that companies should ask themselves to effectively plan the annual marketing and PR budget.
No. 1: What are your marketing goals based on the business goals?
Starting with core business objectives is crucial for both technology and service providers. Whether it’s reaching a certain revenue target, expanding your product offering, or entering new markets, such a goal should drive and prioritize your marketing strategy and plan. To be frank, you will have to be specific about the impact each business goal has on your marketing goals and tactics. For instance, if your goal is to increase awareness in a new market, you will define which specific ATL and PR activities will help you become a well-known company, thus opening the door for your sales.
No. 2: Deeply understanding your audience – again and again
Marketers love working with personas or avatars to plan their marketing. In reality, this exercise is often abandoned because single contacts think they know the audience already. This will be true, especially for seasoned teammates. BUT: one person has one specific angle on another. The typical human bias comes in – we think we know people now and forever – and might overlook changes in (communication) behaviors, or even younger decision-makers in the buying centers with different behaviors and preferences.
That’s why creating simple yet effective persona profiles is crucial. These profiles should address their unique needs in their preferred communication channels. The goal is to narrow your focus and be as specific as possible when identifying your decision-makers’ behavioral, professional, and psychographic characteristics alongside the customer journey. Based on our experience, we love to narrow down complex persona approaches to some key criteria. We do this because if you answer these questions, you actually know everything you need to address buyers of technological products and services:
- Pain pointS the person is having, e.g. compliance, internal transparency
- Goals the person has to achieve; e. g. KPIs, project goals, technological goals
- Expectations the person is having towards your offering
- Preferred communication channels depending on professional context and age
No. 3: What are the most important channels for your audience?
Planning marketing tactics for technical products, services, and slow-moving consumer goods can be done equally professionally as for FMCG companies. However, the planning follows very different metrics.
For example: For FMCG companies, the focus lies in mass brand exposure. Therefore, expensive creative campaigns are substantial to stay top of mind in their categories and drive consumer’s consumption. We have seen technology and service providers burn quite some money in the digital sphere if not careful with their budget, and the result may pay a handsome price with little meaningful impact.
With clear goals in place, it’s almost an intuitive process to map out a marketing calendar. We propose a detailed version for the next six months and focus on core activities and events for the year’s second half. Think about key industry events, trade shows, or seminars where you can connect with potential clients. Consider what always-on activities (such as newsletters or social media) will keep your brand top of mind. Each activity should have a specific objective and measurable outcome, so you know exactly how it supports your strategic goals.
When you’re planning your budget, focus on actionable marketing activities that align with your goals. Here’s a simple way to break it down:
Brand Presence:
Ensure your basic branding elements (website, logo, messaging) are consistent and professional. Even on a tight budget, these small investments can have a significant impact.
Key Industries Focus:
Attend relevant trade shows, seminars, and networking events that can provide you with direct access to your target audience. Look for opportunities to participate in industry newsletters or publications.
Always-On Activities:
Consistent marketing activities such as email newsletters, blog posts, and social media updates will keep your brand visible. Invest in tools and platforms that make managing these activities on a budget easy.
Conclusion
Planning your marketing budget doesn’t have to be complicated. Still, marketing is not a checklist of tools to use but rather a strategic effort designed to help you achieve your business objectives. You can develop a clear, actionable marketing plan by starting with your business goals and breaking them down into strategic and tactical objectives. This structured approach will ensure your budget is spent wisely, helping you build your brand and grow your business without wasting valuable resources.
