3 DANGERS TO AVOID WITH MARKETING STRATEGIES
Good branding is a long-term process. It is deeply embedded in the roots of consumer perception and economic patterns. Any strategies you employ should always keep these factors in mind.
Problems arise when businesses make short-term assumptions about marketing strategies, blaming the immediate lack of returns on the overall strategy itself or other attendant elements. All of these factors of the marketplace serve only as red herrings to the uninitiated.
1) BLAMING THE STRATEGY
Results don’t usually happen right away when it comes to building the foundations of a strong brand. If the execution is failing then it may simply be a matter of not implementing the strategy correctly. Don’t jump ship and change strategy on a whim; it may just be a matter of poor execution.
2) MISSING SHORT-TERM OBJECTIVES
You have to set achievable objectives. There is no point in setting targets beyond your reach, then blaming the strategy when they fail to bear fruit. Sometimes strategies require more time to work. In order to know where you are going to be in a year, you need to know where you are going to be tomorrow.
3) OVER-REACTING TO FADS
Businesses often lose their way when they start impulsively reacting to temporary fads and fashions in the marketplace, the ephemeral ‘white noise’ of a million new companies, services and products coming and going.
Build strategies around consumers, not competitors.
“To thine own self be true.” This maxim illustrates another fundamental error of marketing strategies that happened to the supermarket giant, Tesco. It has suffered a decline in the last two decades by trying to compete directly with its rivals. However, it could recover when it concentrated on the quality of its own brand, such as its ‘Finest’ range. This has put the focus of its strategies back on targeting the consumer and following its own course, instead of competing on shifting and faddish market terms.
Solid, well thought out strategies are enduring and timeless. Trust in them to succeed. The business that adheres to the thoroughly calculated plans and goals, and not waylaid by tangents and distractions, will be the one to succeed and build the foundations of a strong brand.
About the author: Vincent Bissette is a freelance Brand Strategy and Design Consultant with over 30 years experience of branding and rebranding businesses and organisations, systematically, thoroughly and objectively. He has worked in major Design Consultancies as well as having run his own agency for 25 years, working with SMEs all over the UK to help them modernise their brand, grow their business, attract new customers, penetrate new markets and increase their sales, market share and profit. Throughout that time, there’s not much he hasn't done or many industries he hasn't worked in. He’s a creative, strategic thinker and problem solver with a wealth of experience in diagnosing trouble spots in brands and discovering their strengths, weaknesses, opportunities and threats. Now based in South Lanarkshire, Scotland, he works throughout the entire UK.
Get in touch with him on Linkedin here