You don’t need an M.A. in Data Analytics to know when your numbers aren’t looking so hot. If you’re like most smart business owners, you’ve designed your product or service well enough to know it works. Your confidence isn’t enough, however, to lift up those numbers and save the future of your business. You need a marketing strategy-revamp. Yes, you may have spent tons of time in the beginning, artfully crafting the perfect strategy to obtain a boatload of interested clients, many of which who may have brought you valuable revenue. But, now, the market has changed, the early stages of your business have passed, and revenue is looking low. Most likely, it’s not your business model that’s the problem, but it’s your marketing strategy. Here are some signs that you need to revamp your marketing strategy in order to keep up with the current market:
Your Revenue is Either Stagnant or Falling
Maybe your numbers aren’t quite adding up. Maybe they’re even adding down. If you’re not receiving the return that you’re expecting on your investments, time included, then something needs to change.
You Can’t Name New Market Trends
Trends these days are nuanced and take time to pick up on. The current market directly influences your marketing strategy, and thus, it’s extremely important for a smart business owner to take constant note of the current market. This could mean conducting regular research on competitors’ website design, or, browsing daily through social media platforms to gain a sense of the go-to lingo. Content can either be a burden, or a tool for success. The market is constantly evolving, and in order to achieve results, you need to evolve with it.
You’re Losing Followers, or, Just Not Gaining Any
A company’s social media presence is absolutely crucial now more than ever. Within about the last decade, social trends like storying and hashtagging have transitioned from fun ways to interact with friends and followers, to unequivocally ranking in the big bucks for companies around the world. Lost some followers or stopped getting those exciting follow notifications? Perhaps you’re spreading yourself too thin by targeting any and every social media platform, or perhaps, you’re just not targeting the right followers. Nonetheless, this social media plateau is a surefire sign that your social distribution strategy is lacking and is in need of a revamp.
You’re Launching a New Project or Targeting a New Market
When introducing a new project or expanding your business to include a certain target market, more often than not, your old marketing strategy won’t entirely hold up. In fact, keeping the same marketing strategy might even hurt your business, steering away those within your new, untapped-market, who might get the sense that your target audience just doesn’t include them. So, you know what they say… out with the old and in with the new. In this case, it’s crucial.
Figure out a game plan with our team at Sesam, by visiting www.sesam.co