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 market place 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 market place, 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.
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About the author: Vincent Bissette is the Creative & Managing Director of Propel Marketing & Design, as well as acting as a Brand Advisor at various client companies. For over 30 years Vincent has been helping local and national companies across the UK achieve greater commercial success while minimising the cost of doing it. Vincent has been at the heart of design and marketing in Glasgow for 30 years and. Throughout that time, there’s not much he hasn't done or many industries he hasn't worked in. Now based in Hamilton, South Lanarkshire with Propel Marketing and Design he looks to continue to transform the fortunes of businesses through effective, targeted marketing.
Get in touch with him on Linkedin here