Marketing Strategy: 3 Signs You Need A Fresh Approach

Posted on Jun 21, 2012

Marketing Strategy: 3 Signs You Need A Fresh Approach

If your marketing strategy has been in place for a while and you’ve been consistently doing the same things but not getting the same business results, it may be time to take a fresh approach to that marketing strategy.

Here are three signs it might be time for a fresh marketing plan:

1. Not getting the same results. If you’ve been doing things the same way for a long time, and not getting the same results, the competition and the marketplace may have changed enough to take some of your market share. Take a fresh look at the competition. See what they are doing and what customers they are reaching out to. Are they reaching out to the same customer you are? Your “unique selling proposition” may not be so unique anymore, and it may be time to create a fresh advantage for working with your company in your marketing strategy.

2. Getting different or fewer customers. Or both. If you track your customers by demographics, ZIP Code or other means, see what’s changed year-to-year (if you don’t track your customers in some way, start right now). If you had lots of customers in their 40’s and 50’s, and now you are getting just a few and those are in their 30’s, see if who lives in the geography’s changed. You can look up geographic areas, such as county, city, ZIP Code, in the Census records, or ESRI’s Business Analyst On-Line to add insight to the marketing strategy. If you’ve been in business long enough, the community can change subtly over time.

3. Leads not converting to sales. Are you qualifying your leads to know they really are leads? Do you have the right offer to convert the leads to sales. A slowing conversion rate might indicate it’s time to check on the target customer, the marketing outreach, as well as the product or service you’re offering.

A key to strong marketing strategy: know your target audience (who really is your customer, or very likely to be) and market to them, their wants and their values.

Are you experiencing any of these symptoms?  Consider applying for a complimentary 30-minute Performance Breakthrough Session telephone consultation.  We help companies get clarity on their marketing challenges, and get organized to work smarter, not harder.  Sometimes just an outside opinion is all that you need.  Apply for a   Performance Breakthrough Session today:  click here. – Maureen 

 

 

 

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