With marketing budgets among companies rising and the global marketing environment becoming harder to create differentiation, the basic marketing tools we once used are no longer adequate. Increasing companies are splashing aimless content through marketing channels in an attempt to attract attention. The reality is, it’s not working.
Source: Marketing Eye Australia>Marketing Eye Australia
Whether you are a start-up that didn’t get off the ground due to COVID, a small business, or a large corporation, you are faced with uncertain times and a very volatile marketplace which means that your online performance and in particular your digital marketing strategy may not be working quite as effectively as it should.
When I look at the market today, I see change. With this in mind, it makes sense that businesses look in-ward to look outward and make the necessary changes to any type of marketing strategy that is in play.
So many businesses are rethinking their business plan, how they go to market, who their target audience is, and what their value proposition entails – all with good reason.
How that affects a digital marketing strategy is easy to see as the changing mindset of buyers and their current circumstances in comparison to what they may have been a year ago are relevant.
Here are 5 relevant reasons why you need to rethink, re-engineer, and re-purpose your digital marketing strategy:
Business Goals are no longer aligned to marketing goals
With the changes in the current business environment, many businesses have changed their goals. Their sales forecasts may be lower than previously anticipated, their expansion plans put on hold and their target audience may be different. If your business goals are not aligned to your marketing goals it is impossible to reach them. Adapting, changing, and testing new waters is often the only way to create business goals that have any type of substance in today’s marketplace.
Adwords campaign is no longer effective
When companies are no longer getting sales the way they once were, they often put a knee-jerk action in place. What many companies have done is put the budget into Adwords as part of what they consider a quick fix, only to find out that it isn’t working. There are many reasons why an Adwords campaign may not be working but one of the first factors to consider is that competitors are turning to Adwords using the same keywords as you. This means that you are all paying more for impressions and campaigns become less effective. Ascertaining whether or not you should put ALL of your budgets into Adwords is critical to lead generation campaign success. Using platforms that help you spend your marketing budget in the right places can help reduce wastage and do more targeted campaigns. We use Robotic Marketer as our tool as it is AI-powered and more likely to give us a good cross-section of marketing and communications platforms to diversify our marketing spend.
Engagement on social media was strong but is no longer the case
At the start of the pandemic, many people were online and therefore actively using social media platforms. Small businesses were able to capitalise on this and do marketing campaigns with reasonable effectiveness. Then that wore off. I kid you not! The market changed and consumer behaviour rectified itself steering away from overconsumption of social media. What that means for brands is that we are forced to rethink the way we connect with the same audience and how we disseminate information.
Website traffic has dropped
This is a huge issue that companies are facing today and one that can be fixed. It’s just knowing how to do so. Doing a audit of your website is necessary and using technologies like SEMRush and Alexa to better understand traffic alongside Google Analytics.
Many companies set up SEO then forget about it. Worse still they may employ third-parties to do their SEO and not monitor the results. Ensuring that your website has the right traffic and enough of it is critical to lead generation.
Leads have stopped coming
When prospects no longer contact your firm, you are forced to focus heavily on outbound marketing technologies as a quick fix. This is a costly exercise and takes time. When leads stop coming into your company, it doesn’t take long to realize that your business is no longer viable. This is when cuts occur across the entire business. When the market changes, you should always change with it running a nimble organisation that has the ability to be flexible when need be. Using a platform that allows for flexibility can mean the difference of your business shutting your doors or staying open. Once again, we use Robotic Marketer which has a multi-user, multi-strategy platform (newly released) allowing companies to re-process their marketing strategies according to new business goals. It’s best to know what to do and when to do it, with the right messages and marketing campaigns.
Technogies we recommend: SEMRush, Google Analytics, Robotic Marketer and Alexa.
Source: Marketing Eye Australia