Is your business experiencing a slowdown? Are your tried-and-true marketing strategies suddenly defying your best efforts? The truth is, you are not alone. Today’s market is volatile, to say the least. It doesn’t matter what business you are in or what services you provide. The competition for position is fierce, particularly for businesses that market primarily online.
Whether yours is an online business or a traditional brick and mortar concern, changes in your marketing strategy are an inevitable necessity. Here are a few ways you can help your business appeal to the current market.
#1 – Listen to what the market has to say.
Perceptions of various businesses and industries change over time, as do the ways consumers interact with them. The most important thing you can do to breathe new life into a business idea that has gone stagnant is know how to present your brand to the market. Here are a few ways you can verify that your message is timely and its delivery relevant to your audience.
Observe your top competitors. Remember that if a business is successful and has amassed a large online following, the key reason why lies in their understanding of the market and what it wants.
Observe and emulate the types of content that get the best engagement. Don’t be afraid to allocate some of your advertising budget to content creation. A professional edge is vital in the marketing content game, especially if you are attempting to gain a larger share of your local market.
Demonstrate your understanding of the market. Present your audience with a regular stream of relevant, share-worthy content. You can also up the ante considerably by interacting with your audience directly whenever possible.
#2 – Move into a new niche.
Do a little sound research and ask yourself if a shift in focus (or just the addition of new product or service lines) might be in order. If yours is an ecommerce business that deals in consumer electronics, you might want to try opening a new store that deals solely in smartphone accessories. If you are in content marketing, it might be time to start a new blog and test out a new audience.
If you are a brick-and-mortar local business, you might want to ask yourself if your overall business image (from its product offerings to its advertising strategies to its onset décor) is relevant to today’s market. Wherever your research suggests changes are necessary, make them, even if it means a significant shift in focus or expansion into uncharted territory.
#3 – Spend some money on good content.
As mentioned above, the more professional your brand appears, the easier it will be to gain people’s trust and convert leads into customers or clients. Be sure that your website is fully responsive and appeals to a predominantly mobile audience.
Farm out your social media management, copywriting, and other areas of content creation to competent professionals who are able to maintain and protect your brand image. Maintain your audience with regular presence on social media and email. Always adhere to content creation, SEO, and email marketing best practices to ensure high rank in searches and your audience stays well-engaged.
#4 – Focus more attention on social media.
Regular interaction with your audience is key to building your audience and gaining momentum for your brand. Start conversation threads, host live chats, use Facebook Live feature, etc. The actual approach will be contingent on how your audience responds best.
Remember, it’s about what the market wants so be willing to experiment with different kinds of posts and content. Note what works best on each individual network and deliver content that appeals to each specific audience. Also encourage sharing your content through pointed calls to action in your posts and tweets.
All of these things together will help you start pulling your business out of the mire and begin building fresh excitement around your brand. Fresh excitement leads to new customers and, more importantly, brand loyalists.
Author Bio: Jeremy is a tech and business writer from Simi Valley, CA. He’s worked for Adobe, Google, and himself. He lives for success stories, and hopes to be one someday.