I have to say that the final quarter of 2022 was the toughest I’ve seen in the entire time I’ve run the agency. It has been a tough year for businesses, and the working class at large, but we have to continue to do our best and weather the storm. The Australian economy has not been affected as much as other economies (thank God) but it is clear that there is still a lot of financial pain and uncertainty out there. This means that now more than ever it’s important to focus on what you want out of life and business in 2023.
The final quarter for 2022 was one of the toughest in recent memory
The last quarter of 2022 was one of the toughest in recent memory. The combination of cost of living hikes and slowing consumer demand were enough to push some businesses over the edge, putting them out of business or forcing them to lay off staff members. Business owners were forced to cut back on their advertising budgets as well, which led to a decline in online sales compared to the boom of 2020/2021. That said, the holiday period was surprising with Black Friday and Christmas shopping (retail) still matching if not surpassing previous years, contrary to all estimates.
If you’re planning on launching a new product/service or expanding an existing one, it’s important that you take these factors into account so that you can be prepared for what’s ahead. You’ll want your plan ready before the end of 2023 so that if things don’t go according to plan, there will be room for adjustment rather than panic mode kicking in right as your goals are within reach.
Advertising results in 2023 are already looking much better
The Return on Ad Spend since Christmas has tripled for our clients. Boxing Day Sales were strong for our fashion brand clients and digital advertising is still the best way to reach your audience.
I found that in 2022, brands that focused on video content and provided their audiences with strong offers were the most successful. Content is still king, and video is the current king of the castle. If you’re struggling to create video, you need to focus on this in 2023 and make this a priority goal for your business. The key is to make sure your goals align with what you’re trying to achieve at work, in life and in your relationships with friends and family members. They should be attainable—but challenging enough so there’s still some excitement in pursuing them!
My Goals for 2023; video content marketing, podcasts and advertising
I personally felt that the rapid explosion of video in 2022 left me personally feeling like I was on the backfoot – I didn’t have the capacity to create good video content and tried to hire experts into the team which unfortunately didn’t work out. I realised that there’s no reason for me to not learn this myself as the face of our business! So this year I’ve set myself the following goals.
Video content marketing: Create at least one long form YouTube video every week, with a goal of cutting up content to create 1 short form video per day to share on YouTube Shorts, Instagram & Facebook Reels and TikTok. My timeframe on this is to accomplish this output for the next 90 days.
Podcasts: Launch and grow a podcast, which will be an extension of our business’ website and brand. Focusing on 1 episode per week for the next 90 days.
Advertising: Continue to test, iterate and grow our clients advertising revenue and profit margins by adopting the best practices of Google, Meta and Pinterest in our business. For the next 90 days, we will meet with our agency representatives at these platforms weekly to review client accounts.
I am aiming to continue serving my clients to provide the best digital marketing help I can
Digital marketing is a competitive field. To succeed in this field, you need to be the best you can be, and that means continually evolving, learning and setting goals for yourself. Last year, I didn’t personally jump into video as much as I was preaching to my clients to do, and I’m ensuring that this year I am not making that same mistake. I’m proud of the work I’ve done for my clients so far, but I know that I can do even better.
I want my clients to achieve their goals because their success is my success as well. By helping them grow, we create win-win situations for both parties involved: me, my clients and our businesses.
What are your business goals for 2023?
The next step is to determine your goals for the next three months. To set these, think about what you want to accomplish before the end of 2023.
Are your goals focused on:
- Income and revenue?
- A sense of accomplishment?
- Long-term growth and expansion?
I am hopeful that 2023 with be a year of growth
By now, you’ve probably set some big goals for your business in 2023, and maybe even broken them down into smaller ones. But there’s something else that can help keep you motivated: thinking about how great it will feel when those goals are achieved. I’m a huge believer in visualisation and manifestation; what you envision and feel, you can achieve.
Think about how awesome it’s going to be when your customers tells you that they love your newest product launch! Think about how great it would feel if your business is able to grow its revenue and profitability — allowing you to finally invest in yourself and your team! And think about how amazing it would be if this is the year that you’re finally achieving the work/life balance that you set out to obtain when you started your business. Wouldn’t that be nice?!
We can only dream and then work hard to make those dreams a reality—the point is that this year will bring plenty of opportunities for joy and happiness in our lives. And as long as we keep working towards our goals every day, we can make sure those opportunities come along more often than not!
I am looking forward to the year 2023 and all of the opportunities it brings with it. Thanks for sharing your journey with me and let’s chart our course this year together!