5 Innovative Ways To Refine Your Marketing Strategy

What comes to mind when you hear the term – Marketing Strategy?

To some, it might seem like a very tedious process, and the reason for that is because people often feel the need to overthink on certain things. A marketing strategy is basically a plan of action; outlining the things you need to do, how you are going to do them, when you are going to do them, who you are doing them for, and the end result of the whole process.

Doing this helps you focus, because you already know what needs to be done, as opposed to being spontaneous with your business. Having a plan of action does not end when the business succeeds (or when a particular goal is achieved), it carries on beyond that period, in order to create sustenance. When a is business is stable, that business is bound to excel in the midst of competition and market saturation.

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Let’s examine the 5 innovative ways you can refine your marketing strategy, for better ROI:

#1. Create a roadmap

With a roadmap, you’re able to know the direction you’re meant to follow.

Fancy going on a road trip, without a map to guide you, in a city or country you’ve never been to before? You might end up in the middle of nowhere in that scenario. It’s the same with business. In order to properly navigate through the noise (especially online) and the competition, you need a roadmap to guide you.

How do you get this going? First of all you have to understand your market by carrying out a research. Based on the information you gather, you can then sit down and look at the possible ways to approach your ideal prospects. A roadmap does not need to be complicated or too fanciful. Something simple and easy to understand. In some cases, a business coach can help you work on this; an external perspective is usually a good thing, because the person who’s helping out will see things you’re not seeing, and point you in the right direction.

Book a free strategy session here, if you need help in discussing this aspect for your business!

#2. Innovate and differentiate

What makes you different? That’s a question business owners are meant to be asking themselves on a daily basis, and the reason is because of the rise in marketplace saturation. Everyone is saying the same thing, and doing the same thing, which is what’s causing setbacks for business owners when they deploy their marketing strategy.

If you are not being innovative when setting up your marketing strategy, then there’s a chance you may end up with the same results you’ve been getting. An innovative approach brings about a differentiation within your niche, and sets your business apart from the rest. This has to do with changing your mindset, your approach, and possibly your business culture.

People are often afraid of change, and there’s nothing wrong in being afraid of it, but the problem is when you allow that fear to consume you, and put you in stagnating position. It’s always best to review your marketing materials to see if there are things that need changing. If you are prone using platitudes, then your ideal prospects may end up perceiving you as every other business within your niche. Be different… be innovative!

#3. Adapt to the changes in your market

The marketplace (whichever ones it is for you) is an ever changing ecosystem, this is because the consumers (i.e. clients/customers) are the ones who determine what they need (if they don’t need to product or service, no amount of ads, or gimmicks will get them to go for it). What used to work 10 years ago may not be the same today. We have seen so many innovations through the years, especially in the area of technology. Sadly, businesses that were not willing to adapt to the changes were flushed out (e.g. Blockbuster vs Netflix).

In order to have a well structured marketing strategy, it’s very important to understand what trending within your industry. So many things are happening, both over and under the radar, and when you’re privy to information, then you’re going to be a step ahead in the game. Set up something like Google Alerts with relevant industry keywords, and get information on what’s happening.

When you are able to adapt to the changes in your market, you’ll be able to create marketing campaigns that will appeal to your ideal prospects, and attract them to your business. It’s no longer about the brands, it’s about the end user (your clients/customers). Understand their needs, adjust your approach accordingly, and give them what they need.

#4. Establish trust

Trust is something every business needs to imbibe upon, but sadly, that’s not the case. Online marketing is ridden with tricksters and con artists, who are only interested in their gain, as opposed to the benefit of others. But you can be different, and uphold good standards. This is what makes people become ambassadors for certain businesses; because they like the business (or the owner), the products and/or the services offered.

Your marketing strategy should be setup to reflect this trait, and this can be achieved through the communication system(s) you use. If you’re into email marketing, it’s important to be open and transparent with your subscribers, because that is what will enable them build their trust in your business. If they do not trust your business, they will leave and go to another business that projects trust.

When you take it upon yourself as a business owner to ensure your clients are not going the wrong direction, they will appreciate you for it. You have to establish yourself as a trusted adviser, and have their best interest at heart.

#5. Create urgency

Do you have an effective sales conversion process? If no, then ‘urgency’ is something you should consider, and the reason is because it triggers response, as long as your offer resonates with the people who are checking it out. However, you have to be ethical in your approach, and avoid using urgency the wrong way.

If your offer is expiring at a certain time/day, then be sure to stand by that arrangement. You are likely to lose your reputation (especially online) of you are not true to your words. The idea behind creating urgency within the context of a marketing strategy is to ensure you achieve results, which could either be leads or sales. This also helps you get people who really need what you’re offering on board.

In order to avoid having a negative side effect once you create urgency, be sure state clearly who your offer is for, and why it needs to end when it’s ending (e.g. an exclusive workshop for only 10 CEOs who are looking to grow a winning team). The more clarity you bring to the table, the easier it’ll be to get responses.

Conclusion

Having a refined marketing strategy may take some work and dedication, but that shouldn’t deter you from giving it a go. Nothing really comes easy, and if one’s looking for better ways to market their business (online or offline), then he/she needs to put in the work.

Your turn… what innovative ways are you using to refine your marketing strategy? Leave a comment below and share this post to your social networks (help spread the word).

Thank for reading… to your success!