Keep your marketing fresh; don't let your strategy go stale

November 5, 2012 - Tags: Marketing

Because the market is always changing, your marketing strategy needs to change with it. It's important to stay current by responding to demands and improving what you're putting out there. Making adjustments to your strategy will help you reach more people and maintain a competitive advantage.

There are different ways to determine what effect your marketing is having. Website analytics and other research can help you determine what changes are happening in the marketplace, and help you identify patterns with respect to consumption and trends. Social media tools not only help you get referrals, but allow you to see what customers are saying about your business in “real time”.

Let's say you own a small retail store, and have recently begun "greening" your business by introducing some sustainable practices like reducing waste, recycling, and conserving energy. You'll want to update your marketing strategy to reflect these changes so that your environmentally-conscious customers will take note, and so you can attract new customers who appreciate your efforts. Some things to think about:

What type of advertising are you using?

Is it the right fit? Are you spending time and money on something that isn't bringing in customers? Are there new environmental trends, for example, that you could be taking advantage of?

Where are you advertising?

Are there potential new customers in areas you haven't explored? Are there specific channels you can use to reach eco-friendly individuals?

How can you add value to your advertising?

If you've adopted green business practices, why not allow your customers to do the same? For example, you could offer them ways to recycle things they've purchased, or provide reusable shopping bags.

Reviewing your marketing strategy on a regular basis will help you focus on what works, and what doesn't. Look at key elements like pricing. You might charge a bit more in order to offer a greener business, but you may discover that people are sometimes willing to pay more if they know they are getting something extra for their money.

For more information and ideas, visit our page on marketing strategies.

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