Spring is around the corner, and it's the perfect time for your company to update its marketing strategy. With the constant changes happening in the world around us today, it's crucial we adapt quickly and effectively in order to continue thriving. Technology is constantly evolving and it can feel like a never ending battle to keep up, but thankfully these strategies are quick and easy to implement and don't require new technical skills.
How often should companies update their marketing strategy?
Most experts recommend updating your marketing strategy once a year, however to stay on top of the rapidly evolving marketing, you should be updating your marketing strategy at least every 6 months. This doesn't mean an overhaul of everything, but updating your marketing strategy is a great way to stay current and visible to your target audience.
Its good practice for businesses to stay current with the news, because a poorly timed marketing push can be very bad for business. Imagine if you released a new product called Pandemik during a global virus outbreak? So remember to conduct market research by checking the news before releasing a product or adding a new strategy.
What should you update?
Are you regularly producing new and interesting content?
Slacking off with content creation is likely to slow down your marketing plan and render it ineffective. Besides purchasing from you, businesses and consumers want to come to you for information. To be visible to your target audience, you need to be the expert in your industry. Ensure that your marketing strategy includes a plan to produce interesting and valuable articles, photos, videos and interactive content.
You can share this content across blogs, social channels, podcasts, YouTube episodes or even books. Reach out to influencers with large audiences similar to your target audience and present an opportunity to collaborate. Getting featured on a blog or podcast and providing valuable information about your industry will help expand your reach.
Analyze your current method of advertising.
Are you using Google ads, bus/bench ads, commercials, social media ads, billboard ads or radio ads? Some advertising methods like radio have decreased in efficiency, due to the fact that less people are commuting to work and don't need to listen to the radio. Is your social media up to date? If it's not, updating your profile and running social media ads would be a great place to start.
Do you need to refresh your logo?
This is not something you should do often, but if you aren't hitting your target audience, it might be because your logo is the wrong colour. Colour plays a huge role in how people perceive your brand, so a little research on colour psychology could help your ads reach the right audience.
Do you need a marketing team?
A professional marketing strategist will help you create an effective plan for your company, but hiring a professional doesn't have to cost you a fortune. One session with a qualified, experienced expert can help you diagnose problems in your strategy easily, and will save your fortunes in the long run.
Additionally, you will receive exclusive insight for which channels you should focus on depending on your industry, what type of content you should be producing and how often you should be posting online.
Staying updated with the news and always create new, relevant content to your target audience. Then analyze your current marketing channels and determine what you need to add, remove, or post-pone in your strategy. Then take a look at your logo and branding, and make adjustments according to colour psychology if absolutely necessary. Finally, ask yourself if you need to hire a marketing expert or team to assist in keeping your strategy fresh and effective.