Now more than ever, a strategic and tactical review can assess the past to improve the future
Whether you’re operating a B2B, B2C or non-profit, the focus at this time of year under normal circumstances is closing out the year in the black and doing bigger and better things next year.
However, the COVID 19 health crisis made sure that 2020 was certainly not normal – for businesses, families, educational institutions and just about everyone and everything else.
While many did not celebrate the New Year at the festive gatherings we’re used to, this time of year may be ideal to take a look back on the bumps and bruises of 2020 to plan for a more productive and profitable 2021.
A valuable way to assess the past and improve the future is something that we at Dorsey & Company call a strategic and tactical review. The good news is such a review is not dependent upon “normal” circumstances. Instead, because the review is strategic first, any tactics to follow must be devised to fit the current circumstance. This is especially important as business owners are trying to figure out just how they’re going to move forward from the COVID crisis.
Even in a post-COVID operating cycle, such a review can serve three important functions:
- Identification of areas for immediate adjustment to ensure you meet sales and profit goals with available resources and staff.
- Avoidance of preventable missteps or costly pitfalls that will delay success and tarnish your brand image.
- Enter the next year better informed and focused on available marketing and sales opportunities.
A strategic and tactical review need not be complicated. What is required, however is objectivity. The business or organizational leadership must be willing to take an objective look back at the fit and effectiveness of the 2020 plan (adjusting, of course, for the abrupt disruption in business) relative to the stated goals, objectives and strategy.
A look back as part of a strategic and tactical review should help you reconsider the marketing initiatives, their components, associated processes and the reasons for the results they delivered, in order to:
- Keep – those parts of the plan that – despite COVID – effectively implemented your strategy and accomplished your goals and should therefore be continued this year.
- Adjust – those parts of the plan that worked but could still be improved this year. (And, unfortunately, many will find MUCH to be improved in 2021.)
- Eliminate – those parts of the plan that do not implement strategy or help you reach goals, and cannot be improved to do so this year.
- Add – those elements that the COVID crisis revealed to be missing from your plan in 2020.
While some businesses or organizations require more complex strategies to achieve the results they seek, many others could grow by leaps and bounds if they simply had the right (objective) perspective on which questions to ask, which problems/opportunities to prioritize, and how to move forward to achieve goals. A strategic and tactical review is a good place to start to set 2021 on a better, more hopeful path.
Here's to brighter days ahead for all!
