The marketing landscape is continually evolving, and small businesses are doing what they can to keep up with market changes, customer expectations, and customer experiences. In 2023, small businesses faced rising costs, lower sales, changing priorities, and new technologies while trying to stay afloat and maintain relevance among the competition. But how will these things change the outlook for 2024?

Below, I share my top marketing takeaways for small businesses in 2023 that you can use to help your business evolve and grow in the new year.

1. Business growth is a marathon, not a sprint.

**TAKE IT SLOW.**

Sales and revenue growth is a common goal among small businesses and entrepreneurs. However, many need to pay more attention to whether or not their growth goals are manageable and sustainable, given their current resources, number of staff, and overall business environment.
Slow and consistent growth is excellent, but growing too fast can have negative consequences that can leave your business in a worse place than before, such as poor customer service, ineffective business operations, financial mistakes, and employee and owner burnout.

Ways to avoid taking on too much in 2024:

Define your growth goals up front and create a strategy for how to get there over the years.
Keep your focus on the big picture, not just the short-term goals.
Hire an accountant to help analyze your current financials, forecast your cash needs, and devise a plan to keep your spending in order.
Be aware of your staff, ensuring that you do not overhire and that the ones you hire are well-skilled to handle the job.

2. Social media needs a separate strategy.

**SEPARATE SOCIAL.**

In 2023, **77% of small businesses used social media to connect with their customers**, and 41% depended on social media as a revenue driver. (Forbes Advisor, 2023). Having a social media presence in your business is critical to gaining visibility and giving them a sense of trust that your business is professional and active.

However, while having a social media presence is better than not having one, it is important to be strategic about where and how you use it. Spending your time on the most trendy platforms to keep up with the crowd can be a waste of time and energy if your target audience is absent on those platforms. Likewise, simply having a presence without a solid content plan for reaching your audience can result in low to no visibility or engagement.

Ways to stay strategic about your social media presence in 2024:

Analyze your competition to see where they are spending the most time and getting the most engagement
Poll your current customers to ask where they like to spend the most time online.
Identify your content pillars and create a calendar to stay consistent with your content creation.
Spend some time each day actively engaging with other brands and users online.

3. Systems are a necessary investment for better control.

**SYSTEMS = GOOD.**

Various systems and apps continue to be huge time-savers for small businesses, allowing them to automate functions, get more organized with their administration and paperwork, and take the guesswork out of financials.
By implementing systems versus doing things alone or on the fly, small businesses can plan ahead, increase efficiency and productivity, stay clear and consistent about their goals, and have better control over their operations.

Ways to effectively invest in systems in 2024:

First and foremost, do a business audit to learn what your business needs are now and in the future, then research the tools that can help achieve those goals.
Get on board with a robust CRM system to help manage customer information and purchase history.
Hire an accounting team to track and reconcile expenses, automate invoices, handle employee payroll, and forecast future spending.

4. Big data continues to be a big deal.

**DATA = A BIG DEAL.**

Big data will continue to be a significant factor in helping small businesses reach their goals in 2024. Data is a critical tool for learning about the behaviors of their customers and audience, allowing them to improve their marketing efforts, identify ineffective processes, cut costs where appropriate, stay competitive, and provide a better customer experience.

Analyzing the data from websites, social media platforms, and business surveys can also help small businesses save time and uncover repeat buyers and audience members who are most likely to buy. Data analysis makes it easy to see whether a business needs 1000 people to meet its goals or only 10 (sometimes it isn't about the quantity, but the quality)!

Ways to use data for your small business goals in 2024:

Use sites such as Google Analytics to monitor and analyze website traffic and which pages are doing well or need to be reviewed and updated.
Regularly analyze social media platforms to see where people are most active and which types of posts get the most engagement.
Analyze sales receipts to make informed decisions about products and offerings.
Consider using a data tracking system to automate reports and simplify data comparisons from year to year.

5. Consistency is critical.

**BE CONSISTENT.**

Consistency is one of the most critical factors in running a small business. It is what keeps your target audience aware of your brand and keeps your current customers loyal. Without consistency, a business can quickly fail.

However, as the number of marketing tools and platforms continue to increase, so are the number of distractions that can knock small businesses off track with their goals and end up misaligned with their purpose. Here are a few ways to ensure your business remains consistent with its marketing strategy in 2024:

Ways to stay consistent in your small business in 2024:

Create a marketing plan with clear goals and a strategy for how to get there.
Set SMART goals: Specific, Measurable, Achievable, Relevant, and Time-Bound.
Use content planning software and apps to automate social media posts and newsletter distribution.
Find an accountability partner or group to help you stay on track with business goals.
Create a routine and stick with it!

6. Videos are the winner of the internet.

**WANNA WIN? VIDEO.**

According to a 2023 report by Wyzowl, a leading video animation company, **91% of businesses used video as a marketing tool in the past year**. It is no surprise that videos have become so popular over the years. Not only are they much easier to digest than a page full of text, but they increase the amount of time spent on a website or social media page and can quickly get the point across while displaying the "real personality" of a person or brand. They are also very easy to share.

Videos will continue to be a game-changer in the coming year as popular platforms such as Tiktok and YouTube continue to gain popularity and become the preferred method for sharing information. Videos are a major tool for gaining new leads and customers, with 93% of brands gaining a new customer through a video posted on social media, according to a report by Hubspot!

Ways to use video for your small business in 2024:

Make a video to share the back story of your small business.
Do a "behind the scenes" video to share day-to-day life in your business.
Use videos to display and explain the benefits of a product or a service.
Have your customers create a video testimonial.

7. Artificial Intelligence doesn't have to be the bad guy.

**AI = FRIEND NOT FOE.**

AI is a powerful, time-saving tool that has been making quite an impact in the business world over the past year. It has equipped small businesses with professional, human-like capabilities in customer service, marketing, content creation, sales, and business growth.

While some have shown concerns that AI takes the human connection out of the business to customer experience, it is increasingly being demonstrated as a game-changer. According to a Forbes Advisor report, 64% of businesses are expected to use AI to increase productivity. Here's how you can do so in your small business:

Ways to use artificial intelligence in your small business in 2024:

Use ChatBot to answer customer inquiries automatically and give personalized attention.
Use ChatGPT to help create relevant and catchy social media, e-mail, newsletter, and ad campaigns.
Use the power of AI to create personalized and targeted marketing campaigns based on user demographics and purchase behavior.

The final takeaway:

**PATIENCE IS THE REAL DEAL.**

Each year adds new technology and trends to learn and consider as businesses strive to reach their goals. However, if there is anything that the above shows, there are just as many "not so new" factors that continue to be important year over year. While social media, video, and AI may or may not be a good fit for all small businesses, other factors such as systems, data, consistency, and **patience** remain vital for businesses of all sizes.

JUMPSTART YOUR 2024 MARKETING WITH LMR CONSULTING

If you are ready to make 2024 your best small business year yet, now is the time to start! LMR Consulting provides digital marketing services that can power up and take your small business to new heights. With years of experience helping small businesses reach their goals with digital marketing and business strategy services, I can help you get off on the right foot in 2024 and beyond. Contact me today for a free consultation!