It’s time to throw out the vanity metrics and start 2023 with goals that will help your business grow intentionally, not sporadically.
As you step back into work at the start of 2023, you might stop and think, “this is the year our marketing goes to the next level. This is the year we go viral on TikTok”. While it’s easy to get caught up on getting 100 likes on an Instagram post, upping page views on your site, or increasing the total number of new customers, these vanity metrics often don’t indicate any actionable data you can use to grow your business. In fact, they don’t indicate much at all. If you really want your marketing to go that next level, 2023 should be your year to step back and put an intentional plan in place. Start by following these steps.
Work out the difference between vanity metrics and actionable metrics
Before you dive too far into your plan for 2023, you need to know what you should be tracking. We’ve already briefly touched on vanity metrics – indicators that look great but don’t help you reach more people and make more sales. Instead, opt to hone in on metrics that are actionable and help lead to conversions. These include social media engagement over likes, return on marketing investment instead of marketing spend, and acquisitions costs instead of total acquisitions. In essence, quality over quantity.
Review 2022’s data
We’re pretty sure you’re already doing this, but it’s still worth saying. Any good plan starts with a review of past data. So take the time to actively review your 2022 marketing analytics. Take a look at your actionable metrics and just make a note of where they’re at. Do they reflect where you want your business to be currently? If not, work out how you can get there. Which brings us to the next point.
Set realistic goals
We all want to be industry leaders in our field, but doing so takes time. Getting intentional about your goals also means being realistic about them. The fact is you can’t get there overnight, but seeing an improvement of one per cent each day compounds over time. That’s how a sapling grows into a tree and that’s how your business will grow too. So look at your 2022 data and work out what is achievable this year.Create unique goals
Businesses need to stand for something, so having the goal of ‘making more money’ just isn’t going to cut it. Your business has a unique mission, vision and set of values – let this be your driving force for business growth. What is your business truly trying to achieve? How can spreading your message not only increase conversions, but get you closer to fulfilling that vision. These create concrete pillars you can find your way back to if you get a little lost.
Regularly check-in with your plan
Now the majority of your plan is in place, remember to check-in regularly on your progress. Marketing plans aren’t locked up in a vault with no combination, you can take them off the shelf and make alterations as often as you need. This is what will help you be realistic while also staying true to your business’s direction.