How Often Should Your Business be Revising its Marketing Strategy?

By Sunday, May 24, 2015 0 No tags Permalink

When it comes to a marketing strategy, they are not simply something that you can set up once and then ignore. In order to have a truly effective marketing strategy, you need to revisit it from time to time. Doing so ensures that you are spending your money wisely, and that you are getting the desired results. But how often should you look at your marketing strategy? Do you need to do it every week, or once a year? Each marketing strategy is different, but there are a few key times that you should be revisiting it.

 

The first time that you should revisit your marketing strategy is after completing a campaign. You need to take the time and assess what worked with the campaign, and what did not. Just because you got some results from it, does not mean you should dive right back into the same campaign. There may be tweaks that you can make that will result in even better results and a better use of your marketing budget. No matter what type of campaign it was – email, billboards, or TV ads – you will want to take a look at it once it’s done.

 

Another time that you should examine your marketing strategies is when you begin offering new products or services. Most likely your campaigns are currently set to market your existing products, and so when you add a new one, you want to make sure that your marketing strategy incorporates it. Otherwise no one will know about your new product or service, and it will be hard to gauge whether or not it is working.

 

When your company goes through a restructuring, this is another good time that you will want to examine your marketing strategy. With a restructuring comes new companies goals, new budgets, and new plans. You want your marketing campaigns to reflect these changes as well as possible. Talk with the people in your company and see where they intend on taking the company in the future. See if your budget for marketing has changed, and if the focus of the campaigns is going to be any different. You may also be working with new people, so you will want to get acquainted with them. Doing all of this will help you to have the most effective marketing strategy for your company’s new look.

 

Lastly, besides these benchmark points, you will also want to be making regular checks on your marketing strategy. You may go a while without a new product, or a company restructuring, and your campaign may not have an end date. However it is important to ensure that your marketing strategy remains effective, and so you will need to have regular checkups. If nothing significant at your company has changed, then you can probably do this every few months or so. Look for what your marketing strategy has been doing well, and where it is slacking. More often than not a few tweaks can really help to improve your strategy now that you have more information on it. And if you see that the campaign is not working, you can begin to formulate a new plan.

 

No matter what, don’t go too long without examining how your company’s marketing strategy is doing. You may think it is easier to simply let an existing campaign go rather than start a new one from scratch, but it won’t be as effective. If you need help determining how well your campaign is doing, using a marketing assessment template can help. With a marketing assessment template, all you need to do is fill in the blanks and it will help you to understand your campaign better. However you plan on revisiting your marketing strategy, just make sure that you don’t wait too long, or your marketing budget could be going to waste.

 

 

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