Your work here is done. You established a marketing strategy last year and it went well. All you need to do now is sit back, relax, and let the customers roll in.
Or maybe not. A marketing strategy is not something you can fix and forget – it is something that needs tending, like a garden. And sometimes, it may need revamping altogether.
Here are the top five signs it’s time to go back and rework your marketing plan.
Things Have Slowed Down
Results may improve dramatically when a new marketing plan is implemented, but after a while, some of that growth tends to taper off. Sure, your sales are higher than they were before, but are you growing?
Some things to consider:
- If you brought in new customers with your existing marketing plan, are you keeping them?
- What about the customers who didn’t see or respond to this marketing strategy – how do you reach out to them?
You are paying for things that don’t work
Even if your marketing strategy is successful, not every aspect of it may be. It’s always a good idea to refresh your plan and look at where your resources are making the biggest impact, and what can be cut. This way, you’re sure to get the best bang for your buck.
Revamping your marketing strategy can include:
- Tracking your engagement on social media posts and deciding which types provide the best results
- Adjusting advertising audiences and keyword targets if your cost per click is too high
- Increasing your budget in areas that are showing success
- Decreasing spending in areas that are yielding little to no results
- Evaluating who is receiving and responding to your messages, and who isn’t
You are talking to the wrong crowd
A marketing campaign can be very successful if it is getting your product or services in front of a lot of eyes – but if they are the wrong eyes, it may seem pointless. If your ads are reaching people who will not convert to a sale, it may be time to rethink your marketing plan.
Here are some of the people who may be responding to you, but not helping your bottom line:
- Browsers but never buyers – they like your content. It’s always good for a laugh, but they aren’t in the market for what you’re selling. Or they are loyal to their existing provider.
- Business peers – sure you may have 50 new followers, but they may be your competitors or peers who just want to see what you’re up to or gain ideas to build their own business.
- Not the right person for your brand – maybe your hilarious ad campaign really hit well with the teenage crowd, but they don’t have the budget or need for what you’re providing. Maybe they can tell their parents, but the chances are low. Revamping your strategy goes a long way to making sure the right people are looking at it.
Trends keep changing
While something may be clever and funny one week, something else will be the next. We’re not saying you have to change your marketing strategy every week, but it’s always healthy to revamp it to make sure you are following the latest trends.
Things that can change quickly:
- The most popular social media platforms – it seems as though there is a new one every day, which can be hard to plan on which ones will stick.
- Common phrases, slang, and memes – no one wants to be that guy saying last year’s phrase that doesn’t even make sense anymore.
- Platform algorithms – social media sites frequently change the way they show people’s content and get it in front of most people. An annual revamp will ensure you are hitting all the points you need to in order to be successful.
- SEO changes – it’s always best to determine if you need to change or add any words to make your website up to date for search engine optimization.
Not only do things change in the marketing and social media world, but they change within your organization, too. Even if there have only been small things that have been altered over time – your company is not exactly the same as it was a year ago.
Evaluating and adjusting your marketing strategy helps you make sure that all your platforms are up to date and you are presenting your current image, not the one you were excited about a year or two ago.
Here at Hoyden, we put strategy first. Our team of awesome people is here to help your organization thrive, and we would love the opportunity to work with you.