Marketing is more science that it is art; and an imperfect science at that. Something that might work at one point in time may no longer be effective a year down the line.
An approach in one sector of the market my not deliver the results it did previously. And that is all perfectly OK, as long as you adapt your approach to these changes.
The question is: but, how do I do that? The answer lies in asking questions. Scientific discovery, after all, is about asking questions, and maybe asking them from a different perspective.
Mike Lieberman of Square 2 Marketing says the best place to start is to measure the effectiveness of your marketing strategy.
This comes down to analysing five key areas:
Who are you targeting? Only by having a clear idea of exactly who you’re targeting can you craft messages that effectively appeal to that audience. So, be clear who you want to target and know details such as their demographic, buying behaviours, and likes and dislikes.
Differentiate, don’t imitate. It is easy to fall into the trap of sounding or saying the same things as your competitors. You need to stand out and convince your potential customers that yours is the right product or service they need.
Your marketing has to build your prospects pipeline. Business prospects lead to sales. Unless you’re clear about how many leads you need to convert into sales you don’t know how many prospective customers you need to reach. Start by understanding these numbers so that you’re working towards the right marketing goals.
Spread the range of tactics. Sticking to only a few marketing tactics may be limiting your potential to reach your potential customers, and therefore sales leads. Expand the range of tactics you use to ensure you reach the full spectrum of prospective customers.
What are the right tactics? It doesn’t make sense to use the same tactics if they’re not delivering the results you need. If social media campaigns are delivering greater results than direct advertising used to, shift your focus and spend to be where the market expects you to be.
Key take-away: Marketing is not a static activity. Something that used to work very well may not be delivering the same results. Adapt your tactics to the media that deliver the right results.