How To Revamp a Business' Marketing Strategy

If you feel that your business' sales could do with some improvement, one of the first things you might need to improve will be your marketing strategy. So if you're considering revamping your business' marketing strategy, here are some great ways to do this:

Hire some consultants. Sometimes, the best way to revamp your current marketing strategy is to hire consultants who can provide invaluable outsiders' perspectives. You could even hold focus group discussions with members of your target market so you could know of their opinions about your marketing strategy.

Check out sales data. You need to quantify the success of your marketing strategy by crosschecking your sales data. Is there an increase in sales due to your marketing strategy? During which months were there the most and least sales, and what marketing strategy were used during these months?  What products were most in demand, and how were they portrayed in advertisements?

Be updated. Check to see if your current marketing strategy is relevant, and if it is utilizing technology that will reach your target market better. Consider using social networking sites such as Facebook and MySpace in order to give a more personalized touch to your advertising strategy. It's also a good idea to have your own website (see number 4). And you may also want to integrate current concerns to your marketing strategy: if you're selling dresses for teenagers, for example, you may want your advertising have a prom setting (during prom season) or a beach setting (to welcome summer).

Utilize the Internet. If you don't have a website yet for your business, now is the time to have it. Find out how to attract visitors to your website and how to know more about customer activity at your website. The reports on what visitors to your website click on and read about will guide you towards further improving the effectivity of your site.

Consider using promos and incentives. Offer discounts and promos that will make customers choose your brand over others. This is a long-term investment, as once you attract a solid client base (and they're satisfied with the products you offer them) they would be coming back for more business with you.

Take note of the changing times. You may want to give your brand image an overhaul, in order to keep up with the fast pace of this new generation. If you want to continue catering to today's teenagers, you may want to give your brand an edgier, sleeker look. But if you want to keep pace with your previous target market (who may be young, urban professionals now), you would want to update your product's look so that your old customers will feel that you are changing along with them. Consider hiring a brand image consultant for this.

There you have it! These are just some of the ways to effectively revamp a business' marketing strategy. Remember, advertising is the key to getting your product noticed, and taking all efforts to improve your strategy might just prove to be the best thing you could do for your business. Good luck, and hope this helped you out!


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