- January 29, 2019
- Posted by: Ann Gray
- Category: Marketing
By: Helen Cox
Change is probably one of the rare constants in the world of marketing. That’s why utilizing the same marketing strategy year after year can have disastrous effects on your company’s revenue streams. Instead of relying on approaches you already tried, you should have the courage to do things differently and ultimately remain one step ahead of your competition.
Where Did it All Go Wrong?
Doing the same thing repeatedly and expecting different results is counterproductive, to say the least. The first step you’ll need to take in order to get your marketing efforts back on track is to recognise what you’ve been doing wrong. Sometimes, even the slightest mistake can have an immeasurable impact on the effectiveness of the marketing strategy you’re using.
Taking a long hard look at everything your company has achieved through its marketing efforts over a certain period of time will help you discover the exact moment in time when these efforts ceased producing the results you expected. Reviewing the performance of your marketing strategy will not only enable you to detect the mistakes your team has made, but it will also allow you to plan a more viable strategy you can use in the future.
Crafting a Successful Marketing Formula
Seeing things from a different perspective is often difficult, which is the reason why marketing teams can have a tough time figuring out why the chosen approach isn’t generating the expected results. In those situations, you might want to consider bringing in a marketing consultant like me, who can see things from a different perspective and offer some valuable advice.
Moreover, organising brainstorming sessions with your marketing team and encouraging them to bring new ideas to the table can lead you towards a new and improved approach towards marketing. Don’t be afraid to step out of your comfort zone because promoting your company through new marketing channels or producing a more thought-provoking content might be just what your marketing formula needs. I tend to believe that Seth Godin was right when he said that ‘Being risky is safe, and that being safe is risky’ since you can’t really expect a reward if you are not willing to risk anything.
Genuine Change is the Result of the Learning Process
Each mistake you make is valuable because you can learn something from it. However, failing to admit you made a mistake can be dangerous, as it suggests that you’re reluctant to learn anything from it. Eagerness to learn and the ability to use that knowledge to improve your marketing strategy can often mean the difference between failure and success. Read books about the latest marketing strategies companies are using to increase their sales, follow what bloggers are saying about contemporary approaches to marketing or use any other sources of information about this topic that are available to you. Keep being curious and hungry for knowledge in order to remain one step ahead of your competition. Watch closely what your direct competitors are doing, which marketing techniques they are using, and more importantly discover the weaknesses in their marketing formulas.
Choosing a marketing strategy can be quite complicated if you don’t have the right information, so before you make a definite decision, try to gather as much data as you possibly can. Making an uninformed decision is usually a bad idea that can have far-reaching consequences, which is the reason why I think that before you choose one marketing strategy or the other you need to do your research. Once you’ve considered all the factors that can slow down your marketing efforts, you can start exploring innovative methods of promoting your company that will breathe in new life into a tired marketing formula.
Source: Helen Cox