What’s coming in 2023?
Nobody knows but one thing is certain – it will be something we’re not expecting. Financial uncertainty and the gloom of a looming recession force us to get leaner. Cut corners. Maximize efficiency. Get nimble.
If your current strategy is to throw out a line with a worm on the hook and watch the bobber, you will find that fish are a lot harder to catch now. You’re headed for failure.
Without a doubt, it is more critical now than ever to know your customer. The big differentiator is having a well-honed (and purposeful) acquisition strategy for clients. Figure it out now – while the sun is still shining – don’t wait until the clouds roll in.
Develop a Strategy
A great strategy starts with a few important steps. Here’s how:
- Know your business. Starting with a macro perspective, look for big holes or gaps. Review your financials, your customer base, and your marketing game. Tighten up your branding and make sure it fits your purpose.
- Know your customer. Where are they coming from? What do they need? To really understand, try to write a page in your client’s diary (see link). If you can’t do that, you need more work on your customer Avatar. Check out this article for more details.
- Know your market – and your competition. How do you compare? How are you different – what do you offer that they don’t? How much market share do you own?
- Know your limits – if you are spending money supporting a product or service with no value to your clients, cut bait. Let it go.
Time to Analyze
Here’s something to keep in mind – when the economy flexes, your client base can change. You might get more clients through referrals, online searches, or sources you haven’t seen before. It is important to know: Why and how is this happening?
Once you’ve done the work, do the analysis. Then, make a plan. Make it simple. Write it down. We recommend that you focus on a plan that is specific and actionable.
If you’re committed to it, let us know. We are with you on this journey into 2023.
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