rethinking marketing strategy

Rethinking Your Marketing Strategy

During a time of such uncertainty, it is likely you’ve thought about rethinking your marketing strategy.

With reduced demand for your product or services, the thought of perhaps saving some money has likely crossed your mind. It is important to remember that your competitors are likely to be facing the same challenges so during these times of uncertainty there may be several opportunities to rethink your marketing strategy for the better.

There are so many tools available to help you listen to and understand your target audience.

Government restrictions have meant that many individuals are spending more time online, which presents an opportunity to engage your potential target audience by creating useful content.

By continuing your marketing efforts it’s likely your target audience will remember you when some form of normality is resumed.

Below are some key points to consider when rethinking your marketing strategy.

1.     Measure your current progress

Before you set out to make any significant changes to your digital marketing strategy, take a measurement as a benchmark to compare to later on down the track.

Aim to measure your progress against both your objectives and your competitors. Consider measuring channel growth, audience demographics, engagement level, social traffic and conversions.

Doing so will allow you to assess who you are engaging with and ultimately what works when targeting certain demographics.

2.     Identify Your Audience

If you’re able to clearly identify and understand your target audience, you can better create engaging content that will be useful for them.

Think of it this way, the better you know your target audience the more cost-effective they are to target and convert. Ask yourself an important question, who is my target audience? Doing so will allow you to think about demographics like age, gender, city, country, languages.

This will then prompt you to think about their interests and challenges, which will ultimately lead to what content and platforms they engage with.

3.     Create more effective content

Remember creating great content across a range of different digital channels will help engage users and drive them to your website.

All of your digital marketing efforts promote your website and are measured and improved using analytics.

To identify what content people are looking for, start with keyword research. Tools such as Google Analytics enable you to find what people are searching for and how users are behaving on your website.

People digest content in different ways, so to make the most of your content, create a content plan and calendar. Targeting 2-3 channels and doing them well is much better than making half-hearted attempts at numerous channels.

4.     Rethink Offerings

In the current climate, there is no doubt rapid changes in customer behavior and market dynamics have occurred. During these times its imperative businesses monitor brand communication and quickly adapt to changing circumstances.

Operating in a timely manner and understanding the importance of changing market conditions will allow your business to remain relevant and succeed during times like this.

Aim to keep tabs on the growing situation as this will allow your business to make any significant alterations to business operations and ultimately better serve your customers.

5.     Personalize your message

Remember personalization is one of the most important expectations of customers today. Personalization can significantly reduce acquisition costs and increase not only revenues but also the efficiency of marketing spend. Ultimately personalization benefits your bottom line.

When you rethink strategy it’s imperative to think about personalization. You want to aim at delivering real-time responsive messaging and offers that respond to where the customer is in their journey on their preferred device and in their preferred media.

 

In the past, we have been able to make changes gradually. In today’s market, however, tomorrow is often too late. Proactively rethinking your marketing strategy will allow you to stay at the forefront of your target audience’s mind. Although change cannot happen all at once, taking small steps to rethink your marketing strategy, can help win today’s consumer.