4 Clues to Shift Your Marketing Strategy

Marketing is the single most powerful tool to make your target customers aware that your company exists. Having a solid marketing strategy is one of the ways many companies plan future growth.?An effective marketing strategy means that you have a solid plan in place to grow your business faster by; setting goals and budgets, building your brand awareness, leveraging employee strengths, and building rapport with your target audience.

There are many factors that can alter a company’s marketing strategy and present the need for adjustments or a total overhaul. In today’s business climate, it’s no longer about mass marketing or direct marketing but digital marketing which has become more popular.

Marketing Strategies are Ever Changing

As marketing strategy changes, so do marketing resources and tactics as well as consumer loyalty and engagement. The whole point of any marketing strategy is to connect with your target audience and?ensure the success?of your?marketing efforts . However, consumers are more sophisticated than ever before and it is getting harder to reach them online.

Today, consumers use technology to consume marketing messages more than ever before. Today marketers have to contend with ad blockers, privacy protection tools, and other devices that limit advertising messages.??It is becoming more difficult to create an iron-clad marketing strategy that gets results. Many times, companies and marketers lose thousands or hundreds of thousands before they begin to shift gears in their marketing strategy.?However, entrepreneurs and micro businesses don’t have the luxury of making a $100K marketing mistake.?Below, I’m discussing the top 4 clues to help you know when you need to adjust your marketing strategy.

1.?Lack of Brand Awareness?

Brand Awareness is about the degree to which consumers recognize your company, products, or services by name. You may be wondering what the significance of brand awareness really is. Here’s the thing, brand awareness builds equity. Additionally, when consumers recall a brand name, slogan, logo, or any other identifier it means that the company has achieved consumer awareness. Beyond achieving brand awareness, consumers typically form an opinion about your brand that reflects their perception of what your brand stands for, and this is referred to as your brand’s image. If your company has not achieved this level of awareness among the people in your target audience, you probably should rethink your marketing strategy. Being sought after and searched for is a strong indication that your brand has garnered a strong reputation in the marketplace.

2.?Lack of Consistent and Qualified Leads

One of the main functions of marketing is to generate leads for the company that is being marketed. Having consistent and quality leads is a surefire way to tell if your marketing strategy is a hit or a miss. When your marketing efforts are connecting and resonating with the intended audience, you will have not only awareness but interest. Getting the target audience interested in your brand, products, and services simply means that you have struck a nerve and the person wants to learn more about your offerings and hopefully purchase whatever you’re selling.

3.??Low Sales or Lack of Sales

When your company is suffering from no sales or low sales, the marketing strategy is definitely lacking. Having a lackluster marketing strategy will yield inconsistent leads and result in inconsistent sales. Random marketing produces random sales. On the flip side, when you have a robust marketing strategy that delivers a value-based message, you can typically count on leads that convert into sales.

4. Outdated Strategy or Tools

We are living in the new millennium. If you have not updated your marketing strategy within the last two or three years, it’s probably time for an update.?In today’s world of business, marketing trends change almost instantaneously. Digital marketing moves at what seems like lightning speed which means your company needs to stay abreast of current marketing strategies, tools, resources, and trends. Also if you are using an outdated marketing tool such as a CRM, that hasn’t been updated in the past couple of years, your company will be left in the dust by more savvy marketers.

In summary, as you can see, each of the aforementioned areas uncovers the result that can happen when there is an effective marketing strategy in place. If any of the above indicators ring true for you, it might be an indication that you need to switch gears and update your marketing strategy.?Start with your goals and objectives that you would like to accomplish in the next 12 to 24 months. Next, figure out what marketing channels you want to use to accomplish your goals and begin fine-tuning your message. By all means, if you need help in this area,?schedule a consultation ?with Lori.

This article was written by Lori A. Manns president of Quality Media Consultant Group LLC. Portions of this article originally appeared on the blog found at www.qualitymediaconsultants.com.

Follow or connect with Lori on Linkedin by sending a request, here. Hit the bell on Lori's profile to be notified of new content and follow hashtag #loriamanns .