Business changes rapidly; your marketing strategy must keep pace

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July 10, 2017

Whether you’re a Fortune 500 company, a financial planner or a sales and marketing consultant, the ability to adapt to the marketplace is crucial to your success.

Easier said than done. Markets have gone global and technology is driving change in so many areas that it can be difficult to keep up. In some cases, it’s radically changing entire industries. One of our clients is fond of saying: “If you’re standing still, you’re really going backwards”, a message that applies when examining your sales and marketing program.

Analyse your offering

Start by eyeballing your offering. It must be relevant to your clients if you want them to buy services from you. Your offering should also be germane to your marketing strategy.

Keeping conversant with market trends is important, too. If you’re targeting the notoriously fickle Millennial demographic, investigate what affects them and how you can engage them with your offering. It may require a tweak to an existing service, or even a complete overhaul of your offering. Just don’t be left behind. If you are, and the market shifts, you’ll be forced to play catch up to stay relevant. This tardiness could cost you sales.

Don’t ignore technology

Technology is rapidly changing the way we interact with products and services. For example, the rise in artificial intelligence (AI) is making it easier to not only analyse vast quantities of data but it can also make decisions about products and services faster than humans. This has led to new offerings in many industries, such as the rise of ‘robo-advice” in financial planning.

Marketing automation is another example of the value of technology. It makes it easier for your business to reach out to clients faster, with more targeted messages that can be tracked, analysed and reported. In other words, automation provides more intelligence about your clients’ purchasing behaviours and the way you’re communicating with them.

Take time to reflect

Ultimately, you’ll need to clear a gap in your diary to ensure you’re keeping your approach to marketing relevant. Take this time to consider what’s affecting your clients and what changes they’re facing, and then adapt your sales and marketing approach appropriately. Taking the time now can ensure you don’t miss the boat later!


TOPICS:  marketing,

 Millennials