Each year, retail stores begin preparing for the holidays earlier and earlier. We now see Halloween costumes in August while we’re trying to enjoy the last days of summer, and we are bombarded by Christmas displays in October before we even get to trick-or-treat.
As annoying as this commercial trend can be, there is one holiday all companies should be focused on and prepare for months ahead of time – New Year’s Day! In order to ensure a profitable new year, it is imperative to begin taking the proper actions well before January 1.
The effort companies put in during Q4 will shape the leads, presence, and profits yielded in the coming year. The groundwork for 2024 communications and marketing campaigns must begin to be strategized and implemented before or during Q4. This is especially true for government contractors and companies operating in an environment with a long sales cycle.
Early planning is crucial for mission success in all aspects of aerospace and defense–including marketing! Investment in marketing infrastructure and initiatives to support growth can go a long way in helping organizations achieve the desired results.
American author and politician Dr. A.P. Gouthey once wrote, “To get profit without risk, experience without danger, and reward without work, is as impossible as it is to live without being born.” With that in mind, here are some ideas on how to prepare for a successful 2024:
“Your brand name is only as good as your reputation,” said entrepreneur Richard Branson. A strong reputation and brand in government contracting is critical in an industry where warfighters and the American public may literally be putting their lives in the hands of the selected bidder–who one buys from matters.
Not only is a good reputation crucial in bid selection, but its absence could lead acquisition professionals into a potential PR nightmare if they choose a company with a less-than-polished reputation and something goes wrong. Unlike other industries where missteps may lead to a few bad quarters, missteps in the government contracting world can open one up to bid protests, make contractors lose certifications, or if an event is bad enough, they could get barred from working with the government in general. It’s important to remember that negative actions and comments can live forever on the internet, and the consequences can be serious for your business.
Before engaging in LinkedIn fights, hyping up your product to uncomfortable heights, or engaging in other unbecoming activities, keep the words of the great Ben Franklin in mind: “It takes many good deeds to build a reputation, and only one bad one to lose it.”
In addition to good, ethical business practices, there are many opportunities to build your reputation if you know where to look. There are a host of government and industry demo events, pitch competitions and other opportunities to shine in front of customers. Many however, have application deadlines months before the event. The Space and Defense Innovation Showcase and Ignite Awards, celebrating the best space and defense companies for example, have their applications open in October for the March live pitch competition and awards ceremony.
Speaking at industry conferences, sharing relevant and non-self-promotional industry content, having evidence-based case studies, and publishing press releases that back up claims and show customers you are an industry leader are all means to build your company’s reputation. It can help you to secure new customers and retain old ones. Control your narrative! Having said that, if you have reputational issues in the past, a good communications partner can assist in getting the narrative back on track.
Public Relations is all about relationships. Utilizing a dedicated public relations team will instantly expand your network and relationships. The funding landscape requires strong investor relations with the right VCs, along with targeted messaging showing value and brand. Likewise, media relationships require time to cultivate and grow. The right opportunity to collaborate might not happen right away, but a well-maintained relationship will bear fruit down the road.
Now is the time to begin preparing for 2024. Deadlines for proposals, contract renewals, compliance reporting, and next year’s trade shows are fast approaching. Many great media opportunities for next year require a long lead time, and event organizers are currently outlining who they want to feature. Investing in branding, communications, and marketing helps shape customers’ opinions and ultimately can lead to greater profitability, allowing you to have a truly Happy New Year!
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The Distinctive Edge team is comprised of business builders with unique communications expertise and industry specialization. We help leaders solve business problems, thrive through transition, and achieve growth and engagement goals. The tools of our trade are strategic storytelling, investor and public relations, communications, and marketing. To learn more about our services, visit https://distinctiveedge.partners/