Have you defined your company’s objectives for 2021?
It’s time to start planning for the new year! A new beginning. Being proactive with your planning can help you keep your priorities on track and take your business to a new level of success.
Remember that your plans do not have to be too complex, but should include the goals you want to achieve and the steps you need to complete to achieve them. However, we know it can be challenging to identify the right areas you need to focus on to make your business successful. That’s why we have brought together 3 key areas that companies can focus on in 2021 for effective business planning and goal setting.
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1. Sales
When analysing last year, did you detect any trends? Did you have customers who could have used an additional service or product? Think about expanding the services you do not currently provide. Now is the time to rectify these problems and set goals for 2021.
After carrying out an analysis of the changes brought about by the pandemic, you can now set out to plan sales for 2021. Below we list the main steps to build your plan:
Analise your sales history
Metrics are essential and in order to look to the future you will need to assess the past. Through your CRM system, analyse the company’s sales history for the previous year. The 2020 results will serve as the starting point for making the projections for next year.
Define micro and macro targets
Sales planning involves setting targets. In the year 2021, it will be necessary, more than ever, to focus on determining targets divided into periods. Establish macro objectives, i.e. those that will guide all your actions throughout the year. On the other hand, also set micro objectives to guide the daily operations of your sales team.
Assess the possibility of new products and delivery policies
Given the sudden changes in the business sector over the past year, it is worth considering with the responsible department and assessing the possibility of investing in new products and new delivery policies. After all, if your business does not keep up with the demands of this new reality, it will probably be more difficult to achieve the sales targets you would like.
2. Marketing
The time has come to plan or update your marketing strategy in order to effectively promote your business. Achieving your marketing goals for this year does not have to be complicated, think about a new promotion or service that you want to share, what goals you want to achieve, who you want to reach and how you will communicate your business to your target audience? Once you have determined where you want to focus your marketing efforts, it’s time to define a plan.
Planning and setting your strategic marketing goal early will ensure that your customers are aware of your services and promotions in advance. By the time the time comes for the service they need, they will know that they can contact your business for it. In 2021, consider the following trends to update or change your marketing strategy:
e-Commerce
2021 will be an important year for the online stores, with new players and new concepts emerging. It will be marked by perhaps too abrupt a change, which will prove that to have a successful e-Commerce it is not only necessary to sell through a website, but to invest in agile logistics, effective customer support and a user-friendly experience.
Context Marketing
The pandemic has fostered special attention to current circumstances and the adequacy of initiatives to the state of society. Consequently, marketing will be more focused on the dominant conversation topics and the creation of content on them.
Bet on digital
Digitalisation will be a high priority for businesses. Having an established presence in digital in 2021 will be one of the main factors for the survival of organisations.
Rebranding
This trend is a practical necessity that companies will face when going digital: their brands were not developed to be online. From logos that do not match the dimensions and formats required by social networks to companies without brands, there will be a bit of everything that needs to be developed.
Business models
It is also necessary to adapt current business models to take advantage of the potential of the digital world.
3. Financial planning
A good financial plan keeps you focused and on the right track as the company grows, even when new challenges arise and unexpected crises are hit. It helps you to communicate clearly with your team and investors, and to build a modern, transparent business. Here are 3 tips for effective financial planning:
Keep previous year’s results into account
Start by analysing past data, checking where you have spent most, where you have had a return and where you have lost money. However, the year 2020 was extremely atypical. So it is not enough to check the results of recent months. Take time to analyse data from the last three years. Carry out this process calmly, so as not to fall back into past mistakes.
Set targets
Your financial planning will start with long-term objectives and then define short-term ones. It is essential to be realistic, for example, some goals that would be short-term will have to be left for later until the company restructures. Short-term goals must take into account a natural wear and tear in the market due to the financial crisis caused by the pandemic.
Include new buying behaviour
With the distancing social, the buying behaviour changes drastically. Some trends, such as e-Commerce, have suddenly consolidated and companies have no choice but to adapt.
Therefore, you should consider your customer’s purchasing behaviour in your financial planning and, who knows, invest in an e-Commerce platform to meet the demands of today’s consumers.
Finally
Count on Algardata to help your company, whether it’s business planning issues, strategic tools, technology solutions or expert assistance. Algardata is your technology partner for 2021. This year upgrade your business! Talk to us!
