No matter how solid your existing marketing plan may be, it is critical to review, examine and re-examine the strategy. Why? What may have been a perfect marketing strategy may no longer be due to one simple factor; situations change.
As your year progresses, changes to your business model may occur. The landscape of your competition may change. There may be new and better marketing tools available. On top of all that, all marketing strategies, to varying degrees, have elements that are based on assumptions and educated guesses.
Here are some of the important times to review your marketing strategy.
At the Year’s End
This is the most common and most critical time to review a marketing strategy. As a Toronto internet marketing company, we highly recommend to our clients that an end of year review take place to see what has been successful and what can be improved upon. A full year gives you the time to allow your annual marketing strategy to come to fruition. It also gives you a large sample of time to review.
Every Three Months
With our Toronto marketing clients, we perform a three-month pulse check to review the effectiveness of the strategy and see what tweaks or changes we need to make. A three month period is relatively short in terms of seeing results, but it is important to stay on the ball and monitor the effectiveness of the work being performed.
As an element of marketing strategy is speculative, there is no sense in continuing down a road that may not be of maximum effectiveness.
When You Receive Customer Feedback
All successful companies survey their customers to determine how they found the company, why they made the decision to work with/buy from that company, and how they satisfied they are. This is invaluable information, and after a respectable sampling has been collected, it is an opportune time to review the marketing methods that have worked.
Customers and clients can also be asked about the areas of the company that can be improved, and what suggestions they would make about reaching other potential clientele.
When You Introduce a New Product or Service
Your marketing strategy must be in line with the products and services that you are offering. When a company introduces a new product or service they may want to embrace different forms of marketing, They may also want to alter their current marketing to maximize reach.
Perhaps more time and money should be invested in print advertising. Maybe a strong social media push is what’s necessary. A new product or service is an ideal time to review the strategy that has been implemented, as you may want to change it.
If you are ready to review your marketing strategy, call Bush Marketing TODAY!