5 Ways to Revamp Your Marketing Strategy in 2018
Even if 2017 was a bumper year for your firm from a marketing perspective, it is still advisable to assess, rethink and tweak your marketing strategy for 2018. This can sometimes be difficult to do objectively which is precisely why we created our triage service. We can help you to take a step back and identify what worked and what missed the mark and then help you to develop a strategy to revamp things.
1. Data analysis
In order to revamp your marketing strategy you must have access to the information which elucidates exactly what did & didn’t work. Retrieve all relevant analytics data, as this will influence your decision making process for 2018.
2. Benchmark against competitors
Take note of what competitors in your area or industry are doing, particularly any evident changes they may have made in comparison to last year. Identify where they are picking up the best results and consider whether this could also work for you.
3. Conduct an audit
Failure is not always due to a poorly chosen idea or strategy but rather owing to its execution. Try to identify which elements of unsuccessful campaigns contributed to their failure. For example, if the budget had been increased for a certain area would that have positively influenced the results? Carrying out an audit of your current marketing strategy is essential to improving performance moving forward. This can be as simple as creating a spreadsheet listing all your communication channels and determining which may need to be updated.
4. What’s new in 2018
Research on what’s changed on various platforms will shape how you craft your marketing strategy for the forthcoming year. For example, both Facebook and Instagram have made major changes in 2018 which directly effect marketing planning. You need to be adaptable and informed enough to make necessary adjustments.
5. Video Marketing
This trend from 2017 is set become more pervasive in 2018. Video content is a focal point of Facebook’s recent algorithm updates. Trying to capitalize on Snapchat’s USP Facebook has launched its own “Stories” feature – likewise for Instagram. Video content has the potential to provide companies and brands with stronger organic reach and engagement than other forms of content. Therefore its importance cannot be ignored for anyone serious about bettering their marketing strategy this year.
Regardless of how you fared in 2017, there are clear learning points to be taken from the past year which can positively influence your marketing activities in 2018. Don’t hesitate to contact us for advice and assistance with formulating and executing a revised strategy.