Congratulations! You’ve made it through 2022. And there’s no better time to get a jumpstart on your marketing budget for 2023!
Whether the past year left your budget overstretched or underutilized, the best way to optimize your spending and leave the biggest impression on your audience is through gamification! Here are 6 steps to capitalize on your annual marketing plan.
1. Set a Goal
Before deciding how to allot your yearly budget, you need to determine the end goal. Do you want to inspire more customer engagement? Increase your revenue in the new year? Inspire more repeat customers?
This goal also needs to be realistic and, ideally will align with your previous marketing efforts.
2. Analyze Your Industry
Another source of inspiration for new annual marketing ideas is embracing industry trends. Think of how many retailers buy stock in NFTs and Web3, like Nike releasing digital sneakers as Ethereum NFTs. Are there similar technological advancements that affect your industry?
A better question is: What are some threats to your industry causing similar businesses to adapt?
Think of how the food industry had to pivot fast during the early days of COVID-19. For many, the choice was between adopting delivery and pick-up orders or closing for business (which happened to an estimated 90,000 restaurants around the country). Even if you aren’t in the food and service industry, there are likely to be external factors that could threaten your business—and a solution that can help you stay on top.
3. Familiarize Yourself with Consumer Trends
Consumer habits are constantly changing. When looking at what factors influence customer purchasing decisions, several variables topped the list, including customer-centric marketing approaches, seamless omnichannel experiences, and an emphasis on environmental sustainability.
A recent Google white-paper revealed that 60% of consumers want to purchase their products directly from brands. This is often because brands offer experiences general retailers don’t replicate. So, ensuring your strategy is an engaging experience for your customers is more important than ever!
4. Research the Competition
You'll quickly become obsolete if you aren’t offering anything unique from the competition. Customers like to be loyal to the brand and experience that speaks to them more than ever. With competitor analysis, you can ensure your brand matches their desires.
Competitor analysis helps you identify gaps and opportunities to cement yourself in an untouched market corner. It can also teach you how to communicate your message. When Airbnb entered the market, it capitalized on cities that hosted large conferences, where available hotel rooms were often surpassed by demand. They understood their competitors’ weaknesses and limitations as they developed their product.
It’s also incredibly easy to fail at competitor research. A prime example? New Coke. The Coca-Cola Company thought introducing a new taste might help with declining sales. But when “old” Coke was taken off the shelves, customers weren’t happy. The company quickly had to backpedal, which actually helped reestablish public trust and boost profits.
5. Promote with Gamification
While you’re looking at the challenges and sales climate of a new year, gamification is one trend that is changing the world of marketing. Aside from delivering a fun experience, gamification offers multiple ways to engage or retain your customers. It motivates your audience, increases user engagement, and leaves users feeling more satisfied after interacting with your brand.
We know what you might be thinking—isn’t gamification expensive to implement for a year-to-year marketing campaign? While more extensive gamification campaigns may take more time and money to execute, CataBoom offers many budget-friendly gamification strategies that can be launched quickly and efficiently.
Launching a loyalty program for your business is a great way to boost customer retention by incentivizing repeat purchases. Even a daily collect-and-win implemented over a week could help customers gain points, badges, and sponsored rewards in the loyalty space.
Social media contests are no- or low-cost methods to inspire customer engagement on your social channels with the prospect of winning a prize.
Online competitions are another completely free campaign that encourages engagement with your followers. You get to find out more about your customers, and they provide you with some free word-of-mouth marketing along the way. For example, you may tell followers to post a picture using your product, with the “best” image chosen at the end of the week.
6. Create a Plan of Action
After gathering and analyzing your research and potential tactics, it’s time to create an actionable plan for your new year marketing campaign.Assess your budget, lock in the promotion, load the mechanics, launch your campaign, and watch your results grow!
Improve Your Marketing Strategies with CataBoom!
Ready to make gamification an established part of your strategy? CataBoom is here for you. With years of experience gamifying processes for some of the world’s leading brands, our experts are more than ready to help you with your annual marketing plan. Contact us today to get started!
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