If you don’t improve your marketing, will your business fail?
The short answer is, in most cases, YES. Marketing is ever changing and to gain new customers or keep existing ones you must continuously improve your tactics or face difficult realities.
Currently your business faces the challenge of marketing in an economic state of turbulence and uncertainty because of the COVID-19 pandemic.
Before the pandemic hit us in South Africa, businesses were already facing major challenges with statistics indicating that 50% of businesses fail within 2 years and 70 – 80% within 5 years. As a result of the pandemic those challenges are highlighted now more than ever.
Poor marketing is a key reason why many businesses fail, and without good marketing even more business will close down sooner than ever before.
To flourish in challenging times, you will need to distil your marketing efforts into a powerful, concentrated mix that delivers a high level of visibility and impact on a limited budget.
If your business is looking for ways to improve your marketing strategy, here are the 3 areas we suggest you start working on:
1. Brand and design
Now is the right time to carefully evaluate your brand. Your brand is ultimately what your clients think about you based on how you have marketed to them. It is measured in what they see, what they hear and how they feel about your brand. It is more than a logo, identity or product and service, it requires a strategic plan to develop the right content, that speaks to the right audience, on the right channels.
Focus on the following key areas:
• Brand identity
• Brand reputation
• Offline media
• Public relations
• Brand refreshing
• Marketing collateral
• Digital content
• Website design
• Video content
2. Rethink your marketing strategy
Marketing is the cohesive organisation of many moving parts, from sales to advertising, promotions, public relations and so on. Managing your marketing activities requires planning campaigns and promotions to effectively measure the success against your business goals and objectives. You need to create a marketing strategy that optimises every rand you spend and integrates your activities to gain the highest return from every effort.
3. Develop an effective digital marketing strategy
If you could appear in front of people searching for your product or service, would you want to know how? Make sure your business can be found on Google.
If you could share your knowledge and your product or service to people who are most likely to do business with you right now, would you? Make sure your business is on social media.
The amazing thing about having your business online is that you can accurately target people who are most likely to do business with you. What can you do right now to improve your digital presence? Here are a few of our suggestions:
- Update, upgrade, refresh, monitor and analyse your website to ensure that when your customer finds you that you provide them with the best possible experience. Review your search engine optimisation (SEO) and website analytics to inform how you adapt your website to your customers’ needs.
- Plan your social media content to build consistency with your customers and refine your audiences for future targeting.
- Use marketing funnels to guide your customers journey with your business. This process is about building a relationship without using aggressive sales tactics. You are earning new customers by providing value.
- Create custom and lookalike audiences of customers that your business can target through social media content and sales offers.
- Advertise to the right audiences of customers online. In order to really gain momentum from your online presence it is important to have a paid strategy that delivers your content at the right time and on the right channel.
Having the right marketing mindset is the perfect starting point for the marketing planning process. Kicking your marketing into high gear will put you on the path to more customers and higher profits.
Need help with your marketing?
We have over 11 years of experience in the marketing industry and we can help you with your brand and design, marketing management and digital marketing strategies.
Ready to get started?
Contact us to learn more.