Imagine you’re in a boat and embroiled in a race against several other boats. All of the boats are of roughly the same size and going the same speed, resulting in a massive tie. Those who have rowed competitively know that’s the time when the coxswain calls for the crew to give it their all for another 10 or 20 strokes, in order to pull out ahead of the competition. Luck, timing, and speed are the keys to victory.
While that works in rowing, things are a little different in today’s competitive marketplace, especially when the market is saturated with brands that are virtually identical to yours. They key in this scenario is, of course, differentiation. And while your product or brand is different, simply being different isn’t enough to drive new business—people have to know about your difference.
In marketing, driving business often relies on how well your difference is communicated and every touch point you create needs to reflect this. If your potential customer base isn’t responding to you, it’s time to revise your current marketing strategy to see what is and is not working.
Re-Examine Your Marketing Strategy
Ensure that your marketing strategy contains all the core elements before implementing it—it should identity the intended audience and overall goals, in addition to analyzing your competitors and identify any budget or pricing guidelines to be aware of.
Manage Your Expectations
Different marketing strategies run on different life cycles, which is difficult for many people to understand. A branding effort typically requires a long-term investment of time and money before it yields a noticeable profit, whereas a TV ad campaign for a sale running on a specific date should generate measurable numbers much more quickly.
If you’re not reaching your intended audience, it’s possible that your audience is too limited and you need to widen your scope, in order to better reach your target audience.
If you have bought media, do you need to expand your buy? Are you currently experiencing the reach and frequency you need in order to effectively communicate your message to a wide enough audience?
Is your current messaging inspiring? If you were a customer, would it entice you to buy? Or is your current messaging flat and/or dated? Does it reflect the position you would like your brand to have in the marketplace?
Freshen Your Look
Like the clothes in your closet, color palettes, fonts, and design go out of style. The change doesn’t have to be drastic, just fresh. While you’re giving your materials a good look, also go through your photo library to ensure that those materials are not obviously dated.
Need help getting a leg up on your competition? Drop us a line at firstname.lastname@example.org and let us work with you on a solution that will help put your brand ahead of the competition.