# Reassessing Your Marketing Strategy for the New Year
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Are you looking to refresh your marketing strategy for the new year? Marketing expert Michael Campagna shares 6 essential steps to keep your brand marketable, relevant, and competitive.
## Reflect on the Past Year
Start by taking a look back at the previous year’s initiatives. Ask yourself these questions:
– What did we do well that we want to continue doing?
– What didn’t work as well as we had hoped, but could be refined?
– What did not work well and should be discontinued?
Reflecting on the past year will help you accurately prioritize what’s important and realign your strategy for the year ahead.
## Understand Your Customer Needs
Knowing your customers is essential for long-term success. Update your buyer personas by gathering data from your sales team, surveying your customer base, and running reports through your CRM. Additionally, observe your competitors and industry trends to stay ahead of your customer’s ever-changing needs.
## Refine Your Offer
The beginning of the year is a great time to roll out new products or announce product updates. Ensure that your offer is compelling and sets you apart from your competitors. Tailor different messaging for customers who have already purchased from you, prospects who have heard from you but have not made a purchase, and individuals who have never heard of your brand.
## Determine the Channels You Will Prioritize
Once you understand your customer and have refined your offer, determine the best way to present that offer. Choose channels that will reach your target audience, yield the highest return on investment, and help you meet your goals.
## Establish a Marketing Budget
Assess your projected profit margins and settle on a budget that makes sense for both your short- and long-term goals. Consider categories such as marketing tools, marketing employees and contractors, and ad spend when creating your budget. A marketing budget is the best way to create guardrails for your team so that you never spend more than you can afford.
## Set Goals to Stay on Track
Establish clear, SMART goals and the processes for tracking their success. Choose the right KPIs and establish benchmarks to ensure your brand stays on track throughout the year.
Revisiting your marketing strategy at the start of the calendar year is a highly effective way to keep your business growth on track. By evaluating industry trends, customer expectations, and marketing methods, you can ensure that your business evolves with them. Establishing an annual marketing ritual will set your business up for success and prepare your team for the year ahead.
## FAQs on Revisiting Your Marketing Strategy
**How often should a marketing strategy be revisited?**
A small business marketing strategy should be revisited annually to ensure that your goals are still the same and your business is moving in the right direction.
**How do you refresh a marketing strategy?**
Looking at trends within your industry and the changing needs of your customer base will allow your brand to refresh its marketing strategy, standing out from the competition.
**Why are benchmarks important in marketing?**
Benchmarks allow your brand to track progress toward a marketing goal, providing insight into the progress being made.
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*About the Author*
**Michael Campagna**
Michael Campagna is the founder of The Marketable Brand and Marketable Connections. Through his original Marketable Brand Framework, he teaches small business leaders how to create and execute long-term marketing plans.
*Company:* The Marketable Brand
*Website:* [www.themarketablebrand.com](https://www.themarketablebrand.com/)
*Connect with me on* [LinkedIn](https://www.linkedin.com/in/michael-campagna/)
