3 warning signs that your marketing plan needs a tune-up
Companies invest a lot of time and money in creating comprehensive marketing plans. They set ambitious goals, strategize and execute a plan to achieve them. In fact, they can be so focused on the endgame that they don’t pay attention to what’s going on around them, that is, until they feel their plan falling apart. and wonder why.
Many businesses have figured out how to pivot their businesses to survive a global pandemic. Others, despite experiencing the accompanying tectonic shift in marketing, think they can just wait and then resume their pre-pandemic tactics. These changes, however, have forever reshaped the way brands market to their customers and customers.
If you think your business is doing well with its current marketing plan, you may be missing some critical warning signs that it needs a tune-up. Take off the blinkers and watch for these three important clues.
1. Your customer retention rates are dropping
It’s easy to blame the ever-changing pandemic and its consequences for declining customer retention rates. The fact is, customer priorities have been irrevocably altered by these events, and your marketing plan needs to reflect them.
When you can’t bring customers back like you used to, don’t blame them. No matter how successful your loyalty marketing plan is, it no longer does the job. Acknowledge that you’re not doing something they need to stay loyal to your brand.
The last two years have seen major marketing trends related to artificial intelligence (AI), chatbots and automation. However, with these trends and the pandemic, it will be necessary to add more personalization and human connection to make customers feel connected to your brand. In 2022, think about ways to help your customers feel a human element in service so they don’t want to leave.
2. You’re not attracting new customers like you used to
It may take fewer resources to retain an existing customer than to attract a new one, but if your lead generation is deteriorating, sit down and take notice. Review all the strategies your current marketing plan uses to find new customers. Then analyze why they no longer work.
Two key factors may be at play. First, your potential customers’ wants and needs have probably changed, and they’re no longer finding your content because it’s no longer relevant to them. Second, your brand lifecycle has reached a new stage, which means you will need new growth strategies that combine credibility, visibility and authority.
You will need to explore new markets, target audiences and product offerings. These opportunities may require adjustments to your core business as well as your marketing plan. But it’s a punch that can give you the boost you need to grow.
3. You’ve lost your online credibility
There are a variety of techniques and tips to build your credibility online. Not only do you need to offer information, products and services that target groups find personally relevant, but they need to trust your brand to deliver what you promise. Without this combination, your brand is in trouble.
Your marketing plan must recognize and adapt to market realities. How will you know if it’s a success or a failure? Start by checking your search rankings.
If you’re not findable, it’s probably because your content is simply not relevant to customers and prospects. If you speak to audience members with scripted messages, you should tell them about their problems and solutions in a way that encourages unscripted dialogue.
You’ll need to revisit your content marketing strategies to rebuild your credibility and get those clicks, shares, and likes moving again. Discover how to interact with audiences reshaped by their own new realities. This is the secret to making your brand relevant and credible to them again.
Marketing plans must be agile and fast
The days of multi-year marketing plans are long gone. The audience’s priorities, desires, problems and solutions are changeable at best and capricious at worst. The fundamental tactics to differentiate your brand from your competitors are more sustainable, but only an agile marketing plan that responds quickly to changing dynamics will succeed.
Admitting that your marketing plan has a problem is the first step. Adjust accordingly and monitor successes and failures. And always watch for warning signs that could mean he’s ready for a tune-up.