insight and flexibility are keys to the year
As we step into 2023, there is an uncertainty looming, highlighted by discrepant forecasts for the year.
As 2023 begins, worker shortages continue, as does high inflation, the Russian war in Ukraine, and the ever-present domestic political drama. While consumer spending is robust, fears grow that we’ll talk ourselves into a recession*.
So how does a proactive business develop a plan for an unpredictable year? We recommend developing a trio of plans:
- Anticipating healthy growth, fueled by well-coordinated marketing and sales efforts, potentially leveraging situations where the competition was lulled into a less aggressive posture.
- Anticipating minimal growth, while building on existing momentum from 2022.
- Anticipating the economy slowing, with corporate revenue following a similar pattern.
Check-in dates should be set throughout 2023, together with pre-established thresholds to help guide your way between the plans, matching activities with current situations and market projections. Throughout 2023, you may be working off parts of each of the three plans.
Key to all of this is establishing and monitoring a dashboard of key metrics for your business, providing guidance of which plan to utilize, and how to best transition between plans.
From all of us at Studio/D, we wish you peace and prosperity throughout 2023, and we’re ready to help with your marketing communications in any way possible.
Studio/D is a full-service marketing communications firm working with mid-market industrial and manufacturing clients, together with companies that support the manufacturing ecosystem. We’re a team of “makers” who simplify complex communication challenges with messaging that engages and drives results. Learn more about us at StudioD.agency, or call our president, Scott Dieckgraefe at 314-200-2630.
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* Remember that the most recent recession, the “Great Recession,” was much deeper and longer than most. In fact, many recessions come to an end about the same time as they were officially being recognized. Having the collective wisdom of working through many recessions makes Studio/D less fearful of a potential recession in 2023.