Even with the best planning, your marketing strategy could fail.
Digital marketing comprises various online strategies that identify, build and target an audience with the ultimate goal of turning them into paying customers. It includes the following and more:
- Social media marketing
- Search engine optimization (SEO)
- Email marketing
- Content marketing
- Affiliate marketing
- Native advertising
- Pay Per Click (PPC)
About 81 percent of shoppers research online before purchasing, so it’s important to know as soon as possible if your marketing strategy isn’t working.
Beyond the obvious drop in revenue or even stagnant revenue, the following eight signs can tell you that a change is needed in your marketing strategy.
Low social media engagement
If your posts on any social media platform are received with crickets, something needs to change. A healthy social media presence is typically indicative of a healthy business.
Of course, you’ll want to consider not just the content you post but your posting frequency as well.
A social media management tool can help you get organized across platforms, and check out our list of 11 free (or almost free) social media management tools you can try.
Not reaching your target audience
Your various marketing channels (social media, email and more) could be seeing decent or even great engagement rates, but are you actually reaching your target audience?
It’s important to understand who your ideal customer is so that you can then ensure that your marketing strategy supports reaching and engaging with them. Engagement is great, but are they the type of consumer who will ultimately purchase from you.
Regularly perform an audit of your online targeting. You can gather this information on different platforms through their analytics interfaces or even Google Analytics for your website.
Not sure who your target audience should be? See our seven tips to help determine your target audience.
Feeling overwhelmed or without direction
Digital marketing involves a lot of planning, strategizing, execution and follow-up, so it’s easy to feel overwhelmed. And even if you’re going through the motions and doing everything that you’re “supposed to do,” do you have a purposeful direction?
While you want to be open-minded to new strategies and tactics, you also want to define exactly what you want to achieve and how you’re going to achieve it.
Refer to your data thus far for inspiration, and check out our seven expert tips to set achievable marketing goals for your small business.
Hesitation to share your website
Whether you like it or not, your website is the online calling card for your business. Are you proud of it?
If the answer is no, then you definitely want to focus your energy here. Perhaps your website simply needs updated information or a total website redesign.
Audit your website to understand what needs improvement.
And because a majority of website traffic is mobile, check out our 16 tips for a mobile-friendly website that you can explore.
Low website traffic
Of course, every business wants to see a lot of traffic on its website. But if you’re noticing a drop in website traffic or a plateau of low traffic, you’ll want to assess your marketing strategy as it relates to driving consumers to your site.
You’ll want to start with an audit of your SEO practices, as well as how you’re faring with content marketing. Do you have a blog? If so, is it attracting your target audience?
Low brand penetration
Are you known in your market? Do you stand out from your competition? Do customers understand your brand?
If the answer is “no” to any of these questions, you might have an issue with your branding.
A brand consists of:
- Visuals, such as colors, logo, images, font, etc.
- Tone of voice
- Online presence, such as website, social accounts, etc.
- Influencer and other types of partnerships
The consistency and connection an effective brand can offer builds trust among consumers. About 81 percent of consumers say they need to be able to trust a brand before buying from it.
If you need to reassess your branding or even start from scratch, check out our nine expert tips about branding.
What do you think when you see your competition’s website, ads and social media? If it’s overwhelming jealousy, then you want to take a second look at your own marketing strategy.
Remember to focus on your mission, your target audience and your own goals when your sharing the story of your business. You can leverage inspiration from your competition into your own strategy, but you’ll always be more successful putting that energy into your marketing.
Learn more about what a competitive analysis is and how you can start yours.
On average, businesses spend about 10 percent to 13 percent of their annual revenue on overall marketing.
So, there’s something to be said about having a set marketing budget and that at least a portion of that is intended for brand awareness (which is difficult to measure an ROI on).
However, if you find that a specific campaign cost $1,000 (for example), but it only resulted in $200 in sales, you need to ask yourself whether the $800 was worth the potential brand awareness. If the answer is no, then you’re over budget.
You’ll want to assess how you budget for each campaign and monitor your campaign’s performance as it’s happening (not just after it ends) so that you can change anything if needed.
Regardless of whether you think your marketing strategy is failing or not, you can always pivot and change directions.
The key is to be tuned in to what is happening and whether it’s working (or not).
As you’re evaluating your marketing strategy, consider leveling up with DailyStory. Features include automating various marketing tasks, dynamic audience segmentation and more. Schedule your free demo with us today.