The marketing + advertising industry has dramatically changed over the past several decades. Looming billboards + print ads don’t hold quite the same power as paid social media campaigns + branded content do nowadays. If your marketing strategy doesn’t adjust itself according to the latest best practices, it’s going to get left in the dust. As your business starts to evolve + grow, you will also need to adjust your marketing strategy accordingly. Think it might be time to perform a new marketing assessment for your company? See if any of these seven signs apply to you. 

Top 7 Signs You Need to Update Your Current Marketing Strategy

Creating a marketing assessment of your business can help you figure out what your weaknesses are 

1. Your current marketing strategy hasn’t been updated for several years

Marketing practices change over time. New platforms emerge + grow in influence. Several years ago, TikTok did not have as much power + influence as it does today. And as Generation Z grows up and their buying power increases, you will need to adjust your strategies accordingly. In fact, Gen Zers have a spending power of over $140 billion. Numerous brands are already chasing after this powerful demographic. If your current content strategy doesn’t reach out to this demographic, you may soon find yourself lagging behind your competitors.

Just how marketing trends over time, so too will your business. Your employees might change + your team may grow larger over. Your goals might also change over time. If this is the case, you will need to change up your current marketing strategy. Because of these constantly changing factors, it is smart to perform a marketing assessment annually. 

2. Your budget has changed

Most companies’ finances + business operations do not remain stagnant over time. Your sales rate, turnover, wages, and overhead will likely change throughout the years. As your business continues to grow + flourish, your marketing budget will need to change accordingly. A larger marketing budget can help you create innovative + enticing marketing strategies to attract new customers. 

Whether you have a little extra or a little less money for your marketing budget, performing an assessment will help you figure out what you need to add or cut from your current strategy. 

3. You haven’t optimized your strategy for mobile users

Does your website fit properly with mobile screens? How fast do your pages load on different cell phones + tablets? Are your social media profiles polished + engaging? As an increasing number of people choose to access the internet on their mobile devices rather than laptops, you will need to make sure your marketing strategy + website is optimized for mobile phones + tablets. Otherwise, your visitors may quickly grow bored and find a different company to engage with. 

4. Your company has started to offer new products + services

For some industries, their products + services are constantly changing. Every season brings new clothes + accessories for stores. Technology is always innovating + improving upon past products. As your products + services change, you will need to make sure your marketing strategy reflects these updates. Luckily, new products offer a great opportunity for launching a new marketing campaign! But before starting this new campaign, you will need to perform a thorough marketing assessment to determine where you are successfully reaching your target demographic + how you can adjust your marketing strategy for the future. 

5. You need to update your website

Take a good look at your website. Does it contain up-to-date contact information? Is your information organized in a clear + easy to understand format? Do all of the links work properly? If you haven’t performed an audit of your website in a while, now is a great time to do so. 

Your website plays an important role in your marketing + business development strategy. For many visitors, it is their first impression of your company. So you will need to make a memorable one. Adding captivating images, vibrant designs, and well-crafted copy will help your website stand out from competitors. 

6. You are having trouble measuring your results

Having a digital marketing strategy for your business is critical. Digital marketing metrics like your website traffic, average session duration, conversion rate, and click-through rate are extremely effective in informing you of the success of your campaign. But if you don’t know how to measure the success of your marketing efforts, you won’t be able to make necessary changes to it over time. You also won’t know what part of your strategy isn’t working and needs to be reformed. 

7. You haven’t been generating enough leads

One of your business’s top goals is to generate new leads over time. But if you aren’t gaining any new leads, your current marketing strategies may not be effective. If this is the case, it’s time to take a step back and re-evaluate your current marketing strategy. 

Need some help updating your marketing strategy? Get in touch with the digital marketing team at Responsival today to get started.