Is It Time to Update Your Organization’s Marketing Strategy?
Planning a digital marketing strategy is not like creating a brand name. This is because you cannot just pick one strategy and be done with it. Marketing your brand requires ongoing evolution, driving you to update your existing strategy as goals change, better technologies emerge and customer preferences vary. If you stick to one marketing strategy for too long, your business goals and targets are likely to lose relevance. But how can you know if it is time to upgrade your marketing strategy? Here are a few telltale signs.
Your marketing budget is very high: You have planned for paid ads or printed mailers every time you run a new marketing campaign. You may find that a significant portion of your overall marketing budget is spent on marketing activities, but the ROI is still low. In order to handle this, you can try marketing your brand online. Adding new services or product pages to your website will not create additional costs if you already have a website and person who can keep your website updated. Online advertising is a very efficient as well as a cost-effective effective way to promote your brand and yields higher ROI.
Your ROI cannot be measured: Most probably, you are using traditional marketing techniques to market your product and are unable to gauge the effectiveness of your marketing campaigns. You are not sure which campaign is giving you small returns and what you should do to boost that particular campaign. In order to measure the performance and effectiveness of your marketing campaigns, you will need to use tools like Google Analytics. These online tools can measure the performance of your online marketing campaigns. Not only this, but you can also track the reach and relevance of your digital marketing campaigns.
Your business lacks social media presence: If you are not getting new followers or seeing customer engagement levels improve, it is time to revamp your digital marketing strategy. Your social media marketing numbers should always be motivating. If your brand is not actively present on popular social networks such as Facebook, LinkedIn and Twitter, you are making a big mistake and losing a lot of potential customers. You must start promoting your products and services on social networks. In this digital-savvy world, social media presence is essential for your business to thrive as it increases brand awareness and adds to your online reputation.
Website traffic is decreasing: Whether it is on social networks or your business website, visitor numbers that do not increase are a sign that it is time to upgrade or change your digital marketing strategy. If your web traffic and social reach are not growing, it indicates something wrong with your current marketing strategy.
Your leads are running dry: This is the most troubling sign that you need to develop a new marketing strategy. If you are no longer attracting potential customers, then there is a high possibility your current marketing strategy is out-of-date. Even the most innovative and creative marketing strategies can get stale after a while. The best thing to do is if you have a strategy that has been working well, even making a few tweaks here and there can make a big difference.
Conversions are decreasing: The most obvious sign that your marketing strategy is past its sell date is when conversions are either declining or not improving. This is especially upsetting if your customers are engaging with your content but nothing is happening. For instance, your blog posts are getting lots of comments, but this engagement is not reflecting in results. There could be other factors impacting your conversion rate, but the chances are your conversion rate optimization is not very effective.
If you notice your digital marketing strategy is not updated, do not be afraid to modify it. Your marketing strategy should not be holding you back. It is supposed to drive your growth, increase customer engagement and connect your brand with potential customers. If you feel your current strategy is not efficient enough, then you need to fix the issue as soon as possible. The sooner you get things sorted out, the sooner you will enjoy the positive results of your efforts.