What will 2022 Look Like?

Business owners have spent the past two years navigating a pandemic, supply shortages, employee shortages and cash flow issues. Many have survived by pivoting their service offerings, or pivoting again to meet more current demands. When it comes to running a small business, this is just part of the game, but if we are being honest, 2020 and 2021 have caused some ulcers. 

 

As we round the corner of Q4, we start to look at what the new year will look like - and many are afraid of what it might bring. While we are all hoping for some sense of previously known normalcy, it may not be in the cards. 

 

Trends predicted to continue well into next year and beyond include:

 

  • Hybrid events and Zoom meetings are just part of the way we meet with each other and communicate now. 
  • Work From Home/Hybrid options- More companies are offering more WFH options and will need to find more ways to engage virtually with their workforce.
  • Advances in AI and virtual technology will help companies combat shortages in labor, and help us all find new ways to escape.
  • Distance learning is part of our Educational system now. Many parents are finding better solutions for their children than the typical school day, and this changes their work/life balance dramatically. 

 

Small businesses have felt these pivots and changes more than the big guys, and that’s not about to change. Studies show that small businesses need to adapt faster, and embrace more technology and have a solid plan to move forward into 2022. 

 

The number one thing all this change has impacted? Revenue. Since the pandemic began, revenues have been falling, and business owners are cutting budgets and salaries to make up the difference. As we enter 2022, there is a better way.  

 

Now, as things begin to stabilize, business owners can look at the coming year as an opportunity to make up what missed revenue. How?  By being intentional. 

 

Intentional about what?

  • Goal Setting - I know, it’s been hard to set goals for a while, but now is the time to sit down, dig in and look at where we are realistically. Chances are your revenues have dipped and your big goals feel far away- but that’s no reason to panic or give up. Now is the time to think about what you really want to accomplish in the next year and put together a plan for getting there. 
  • Budgets- Now that you have a plan, the reality is that you have to figure out how to budget for that plan. Take into account your overhead and capital expenses and start looking at what areas you can give more budget to- remember to keep this focused on the areas that increase your revenue and help you meet your goals. 
  • Fractional Teams-  After you’ve realized there just isn’t enough money in the budget to do all the things you want to do (it’s inevitable- sorry). Don’t panic. Do some research on how working with fractional teams can save you money while increasing your bottom line. Some of the best fractional teams are accounting, and marketing teams who cost 30- 50% less than an in-house team and get you the same, if not better results.  Our fractional CMO offering provides senior level strategy and implementation, so you get more direct impact and revenue for the budget. 
  • CRM and Automations - If you don’t have a functional CRM that houses all of your sales pipeline and contacts, now is the time to invest in one. Getting all this organized and having a place to clearly see your financial forecasting is going to be a lifesaver. Additionally, many CRM systems have built in automations for reminders, appointment setting and follow up emails- all of which saves you a ton of time. 

 

The coming year shouldn’t be scary, it should be an opportunity to take a look at the bigger picture, and congratulate ourselves on our adaptability and success during these past two tumultuous years. Now we are in a space where we can set some intentions, and carry them forward. Finding the right partners to meet your goals is paramount. If you have questions about how a fractional marketing team can work with you to create an intentional marketing strategy that actually impacts your revenue goals - give us a call.