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Why a New Marketing Strategy May Help You Overcome Stagnant Growth

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Why a New Marketing Strategy May Help You Overcome Stagnant Growth

Everyone goes into business hoping to succeed, to make a profit, and build wealth. No one goes into business hoping for growth to stagnate, or worse, die off. Sometimes things happen though. The economy shifts, markets change, and consumer priorities are altered. Sometimes a pandemic pops up. Regardless of the reason for the stagnation, the fact remains that you need to do something about it. Have you considered trying out a new marketing strategy?

ENHANCE YOUR BRAND VISIBILITY

One potential reason for your growth to have stagnated is that consumers may be unaware of your business. If you don’t have the brand visibility you need in order to attract their attention, you aren’t going to get any business from them. What it all boils down to is that in order for your marketing to be effective, it needs to be placed where your would-be customers already are. They aren’t usually going to go looking for you. Remember, they probably don’t even know you exist yet. Switching up your marketing strategy can help you improve your visibility by putting your business in front of people who need what you’re offering that weren’t previously exposed to you.

IMPROVE YOUR REPUTATION

The reputation a business has can be a springboard that propels you into new growth, or it can be like quicksand that causes you to slowly sink until you’re well and truly stuck. A business’s reputation is impacted by a lot of different things. Your marketing could be one of them. Remember, in many instances it is your marketing campaigns that first introduce consumers to your business. If the first impression they have isn’t positive, they’re not very likely to come to you. Worse, they could even be offended by your ad, causing them to speak badly about you to other people. That’s a sure way to harm your reputation. Changing up your marketing strategy could help you avoid doing such damage. In fact, it might even be able to reverse some of the effects of previous campaigns that were more distasteful. To avoid making that sort of mistake in the future, consider running your campaigns by a small sample of people who don’t work for your company and get their feedback on the impressions they get of your business. You might even consider doing this multiple times to get as diverse a response as possible.

REINVIGORATE YOUR BRAND

Is your marketing an adequate portrayal of your brand? If not, that could be a part of your problem. Branding is a big deal and can have a huge impact on how attractive your business appears to customers. Most customers today want to be able to identify with a brand. They want to have shared values. This is important enough that a portion of consumers are willing to buy or boycott based solely on the values and principles any particular brand claims to support. If you’re experiencing stagnant growth, you might want to take a look at your brand and see how it is or isn’t appealing to your customers and consumers at large. Everything you do in your business should be reflective of the brand and image you want your business to have. Remember, branding goes far beyond things like your logo, company colors, and signage. How you and your employees dress and talk both in the company of your clients and in your marketing materials can say a lot about the character and persona of your business. Take that into consideration when crafting your marketing strategies so you can make sure that your new marketing strategy is consistent with the message you want to send to customers.

SHIFT YOUR APPROACH

What has your approach to your marketing strategies been so far? It’s possible that your approach could be a part of your growth problem. Consider that different marketing strategies have different purposes. Some will be designed with the intention of encouraging past customers to make another purchase. Others will be meant to attract brand new customers. If you use an approach that doesn’t align with the purpose for the strategy, the marketing isn’t likely to be as effective as it should be. Keep in mind that growing your business means growing your customer base. You must earn the business of other consumers if you want to actually be able to grow and expand. Changing up your marketing strategy can help you ensure that your approach is in line with the goal your strategy is trying to achieve.

SELL MORE PRODUCTS

The goal of any marketing strategy is to sell your products, right? If your current strategy isn’t proving effective, it may be time to try a new one. Consider that some businesses rely on creating a business website to sell their products. That’s a really smart move for some businesses, but not necessarily for all of them. Creating your own website may not be necessary to sell your products. Depending on your business and the products you offer, social media platforms like Facebook and Instagram can be great platforms from which you can both market your products and sell them. This can be especially helpful to newer businesses or those who are struggling financially since they tend to be fairly inexpensive options. They also allow you to reach out to and connect with a global audience. How’s that for a growth opportunity?

STAND OUT AGAINST YOUR COMPETITION

Do you know what sorts of marketing strategies your competitors are using? If you don’t, you need to change that, and fast. If you want to find success and reignite your otherwise stagnant growth, you must be able to stand out against your competition. That’s impossible to do if you’re doing the same things they are. Switching up your marketing strategy can help you avoid falling into that trap, but only if you know what your competition is up to.

Sometimes all you need to overcome stagnant growth and stimulate more is to change up your marketing strategy. There are a bunch of reasons why that can be effective, and this list is far from exclusive in that regard. If that’s what you’re experiencing with your business, isn’t it at least worth looking at to see if changing up your approach could benefit your business?

Read this next: Innovations in Advertising You Should Be Taking Advantage Of

InnoVision is a full service digital agency that provides internet marketing services, SEO, Local SEO, website development, graphic design, branding, social media marketing, search engine marketing and more from our Sacramento and Petaluma locations.

Why a New Marketing Strategy May Help You Overcome Stagnant Growth 1Jeff Irvine
Founder – InnoVision
jeff@innovisionbiz.com
Sacramento 916-662-7491
Petaluma 707-981-7272

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