It’s impossible to deny that old-fashioned marketing tools aren’t enough to keep your business afloat and prospering in the rapidly, and ever-changing marketplace that is the context of the times. What’s hot and current today is old news and obsolete in six months or less.
By no means am I saying that you can’t use marketing principles from times gone by, as these can often be adapted and successfully incorporated into your current marketing strategy, but as a rule, the aim should be to stay on top of the latest trends in creating brand awareness and marketing.
This article proposes 3 key tactics to help you to get ahead, and stay ahead of your competitors. So here goes….
Top Tip 1:
Be on the Lookout for New, Improved, and More Relevant Advertising Methods It’s commonplace to find a comfort-zone, and to stay there… and this applies to marketing methods and strategy as well. We tend to stick to what we know, and utilize a few of the same marketing techniques over and over again. If this is you, I urge you to PAUSE and RE-ASSESS. Have a little scout for other marketing methods, speak to people in the marketing arena, and test something new. There are some strategies that you know straight off the bat won’t work for you, but other are a definite ‘maybe,’ so go forth and experiment! While testing new methods it’s not necessary to put a halt on marketing methods that are tried, true and work for you, but instead, aim to test others in parallel to determine their effectiveness. You may find that some methods work in attracting a different demographic and while they may not generate the largest proportion of your leads, they do increase your market share in the industry. It’s recommended that around 20% of your marketing budget is spent on testing new marketing methods, and to keep it ahead, it’s key that you go through a constant cycle of testing and assessing. This will leave you best placed to choose the methods that fit best with your company direction and growth strategy.
Top Tip 2: Spruce Things Up
This is about that comfort zone that I mentioned earlier… Aside from just getting comfy with your marketing, you may feel that you’re comfortable that your products and services ‘speak for themselves,’ have consistently performed well, and brought in enough income to keep you comfortable without much effort. My suggestion… ‘Do More!’ Consider the benefits of a little effort, even just in terms of giving your brand a ‘facelift,’ or launching the ‘new and improved.’ These are ways of re-attracting old and loyal customers, but also enticing new. You’ll be surprised at what a little bit of ‘refreshing’ can do you for your product and services! Give it a try…
Top Tip 3: Diversify
In a time when versions of products are outdated almost as soon as their off the shelf, and there is an increasing influx of services to the market, with social media and online advertising giving the customer base easy access to a wide variety of choice… one of key ways of keeping your current clients engaged and drawing in new ones, is through diversifying. The more you have to offer, the greater your insulation against the effects of a decline in sales of one particular product or service. A good way to expand on your product or service line is to look at the popularity of what you offer, and if you have a pretty good thing going, branch out to products and services that compliment your offer.
Try not to feel overwhelmed by the pace at which things change, and everything that is new both in terms of offer and strategy. Just take a step back, consider the 3 top tips above and develop a strategy and timeline to put them into action. Do this, and the odds are stacked in your favour!