Building a successful and prosperous business requires a forward-thinking marketing strategy. Every decision you make should be based around trying to gain a new client. But what worked yesterday may not work today, and what’s working now could just as quickly work against you in the future. In short, just like you have to keep track of your finances, it’s just as important to stay in the know when it comes to your marketing output.
When it comes to your marketing spend, you want to ensure you are generating the best return on your investment, be that time or money. This means that you need to be evaluating your marketing strategy on a continuous basis, keeping both your short- and long-term goals and objectives in mind.
However, most business owners either do two things: neglect their marketing output or, more often than not, miss out on money-making opportunities by tethering themselves to an outdated strategy.
But how do you know when it’s time to change tact?
1. Existing Clients Giving You Feedback
It’s important not to neglect your existing clients whilst trying to chase down new ones. Your present clients hold a wealth of information about not only what they want, but also what people like them want – remember, they’re your ideal clients at the end of the day.
Put it this way, there’s no superior market research than having a conversation with one of your existing clients and asking them what appealed to them in the first place. In doing so, it’s important to notice trends in the answers you receive and if they are repeatedly asking for specific types of services – take that as a clue. Your prospects are more than likely to share similar concerns.
Your marketing strategy should address these needs and convey that you are tuned into their needs and desires.
2. Your Content Isn’t Providing Value
Content is king – but it needs to be the right content and provide value. In this day and age, if you want to capture people’s interest, build your credibility, and acquire trust, then people expect valuable, high-quality, forward-thinking content, otherwise you’re simply wasting both their time and yours.
The content you create should be able to answer any pressing concerns and slip seemingly into any conversation. If not, then it’s time to change your marketing strategy.
If you want to know if your content is providing any value whatsoever, then conduct client surveys and ask them what they want to see; look at email open rates and clicks; analyse your social media insights and, if nobody is engaging with them, take that as a hint that it’s time to revamp your content strategy.
3. What You’re Doing is Stale and Outdated
If your business is more conservative than others, then this doesn’t mean that you need to stick to the same old stale and traditional marketing style. With this in mind, it’s important to see the value in modern marketing practices.
If your website went live more than 5 years ago, then now is the time to consider an update. When was the last time you posted on Instagram? You need to be posting more than 3 times a week. Would your business benefit from being on TikTok or any other new platforms? If so, then do some research.
The possibilities for innovation are endless.
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