Your marketing strategy is one of the most important elements in your success toolbox. This is what brings in new clients and helps to retain and incentivize existing ones.
Without a proficient strategy, you’ll end up stuck in a rut and unable to improve or grow. Services such as a Critical Risk Solution can help you learn about past mistakes or things that haven’t worked and drive your process forward.
There are many reasons your customers might not be growing and business stagnating. You could find your website loses traction or doesn’t rank and you’re just not attracting new clients. If you’ve had the same marketing strategy for years, you might wonder just if it’s as efficient as it could be.
Lack of new customers
Marketing is all about introducing new customers to your brand or product. If you find that you’re only having repeat orders and nothing new coming in, it’s time to identify where the issue is coming from.
To sort this out, look at your analytics and the methods you have for finding new clients and try to see why it isn’t working.
Are your price points too high?
Is your business model not clear enough?
Try offering an incentive for those who sign up or purchase something from you for the first time.
You aren’t getting repeat customers
Instead of the above, you might have the opposite problem. If you find you get a lot of new customers but no repeat ones, this is also an important thing to look at. You might need to look at the actual service or product itself and the way it’s marketed.
If people feel they aren’t getting as good a deal as they hope or if your product or service doesn’t fulfill their expectations as you sold, they can feel duped.
Instead, try to give away as much as you can about what you’re offering, being truthful and giving a good service. You can also offer incentives for repeat customers to come back such as loyalty programs.
Your traffic numbers are declining
If your traffic numbers are reducing, you need to think about why this might be.
Is your social media presence not good enough?
Are your Google rankings going down instead of up?
Focus on a strong keyword strategy and ranking opportunities and see if this makes a difference in your tracking numbers. Remember to have a mix of referral and organic traffic to help your business be a success.
These are just a few things you need to look at that can tell you if a new marketing strategy is needed. It can be scary switching up things that you’ve done for so long, but if it’s not working, there’s no point in having it the way it is.
By altering your strategy you can make the most of your resources and budget and reap the rewards. What are some top tips you have for identifying when to change up your marketing strategy? Let us know in the comments below, we’d love to hear from you.