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5 Major Changes to Make to Your Marketing Strategy This Year

By: Brittany Engelmann-- 2016-12-28 7:12 am --

The new year is here, and with it, many people are looking to overhaul their life and bring in the new year with a new and better version of themselves. Your business can and should do the same. As time passes, marketing strategies lose relevance, and businesses need to revise their strategy to keep their customers engaged. Here are five of the major changes you should make to your marketing strategy in the coming year to ensure your business remains relevant.

  1. Stop focusing on new customers.

Many businesses are obsessed with attracting new customers, so much so that it detracts from their marketing strategy. In actuality, it’s returning customers that largely make the success of a business, not a never-ending flow of new customers. Repeat customers tend to spend about 33 percent more than new customers, and boosting customer retention by only 5 percent has been shown to increase profits by over 25 percent. In the new year, you should develop a strategy that’s focused on customer retention and deepening relationships with current customers, rather than simply drawing new customers in.

  1. Find people to promote your products for you.

The most effective way to market your products is to have trusted voices do the work for you. Find influential voices in your niche and get them to market your products through their own channels. For example, if your primary customer base is teenage girls, figure out who those teenage girls are most inspired by. What magazines do they read? What TV shows do they watch? What blogs to they follow? By seeking out the core people influencing your customer base, you can plug your products into their blogs, podcasts, radio shows, etc., which will enable you to target your precise demographic, while improving your own creditability.

  1. Focus more energy on video marketing.
Video marketing is more relevant than ever, and even small brands are finding ways to leverage its potential. Video marketing has the ability to cater to multiple senses, creating an engaging marketing pitch that’s easier for the viewer to absorb.
 
  1. Spend more time on social media.

Many businesses, especially small businesses, aren’t creating a strong presence on social media. The millennial generation holds a tremendous amount of purchase power right now, and they also spend inordinate amounts of time on social media. To capture their interest, you need to meet them where they are, which means engaging with them on platforms like Twitter and Facebook.

  1. If it’s not broke, don’t fix it.

We’ve all heard the old cliché, and in the world of marketing, it’s particularly applicable. If you’re constantly switching up your marketing tactics, you’ll be sinking unnecessary funds into redesigning your strategy when it may have been better off before. Once you find tactics that work, stick with them until the economic climate changes and demands a change in strategy.

Looking back on the past year, you may have found many of your marketing strategies weren’t up to par. The coming year is the perfect opportunity to alter your strategy and maximize on emerging trends. At DollarDays, we provide a variety of store fixtures and display materials that will help you kick off your 2017 marketing strategy in style. Visit our website today to start browsing.