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Is it Time to Change Your Marketing Strategy?
JANICE HURLBURT
Recognize the Signs and Stay Ahead with a Proactive Approach
A decline in new leads can be concerning, but it might not always signify a failing strategy. It may be time to change your marketing strategy.
Meet my client Cindy (name changed), a dedicated nurse practitioner turned medical advocate. She has been diligently working online and posting on social media. Recently, she’s noticed a decline in her social media engagement, leading her to ask me, “Is my marketing strategy working?”
Let’s go back to when I first met Cindy early last year.
When Cindy decided to start her own advocacy business, she was excited but also overwhelmed. She knew she had the skills and knowledge to make a difference, but she struggled with how to reach the people who needed her most. I suggested she start by building her online presence, especially through social media. She didn’t see how posting on social media could help her find clients.
I explained to Cindy that being active on social media isn’t just about getting immediate clients. It’s about building a solid, long-term online presence that fosters trust, showcases your expertise, and ultimately drives growth for your business.
Sharing valuable content, such as tips for understanding medical terminology, stories of how you’ve helped patients or simple explanations of complex medical concepts, showcases your expertise. This will attract people who are looking for exactly the kind of help you offer.
Marketing is not a static process or a one-size-fits-all endeavor. As your business grows and the market evolves, so should your marketing strategy.
But how do you know when it’s time for a change?
There are signs you can watch for to reassess and revamp your marketing approach, along with tips on how to differentiate between temporary setbacks and real needs for change.
When I reviewed Cindy’s social media activity over the last six months, I noticed she wasn’t posting about the people she was helping and the impact she was making.
Instead, she was sharing pictures of recipes. Why wasn’t she posting about how she stayed involved and asked questions at the facilities where some of her clients were staying?
Cindy experience a temporary setback! She lost her confidence and didn’t think what she had to say would make a difference.
I suggested she tell stories about the value of having a healthcare professional who can conduct research and suggest necessary tests, potentially saving time and money.
Once I shared these ideas with her, we created a few months’ worth of content on this topic. She also committed to posting at least three times a week and engaging every day with other social media posts from patient advocates.
Now, she was back on track!
Fewer New Leads
Evaluating Lead Generation Effectiveness A decline in new leads is a surefire sign, but it might not always signify a failing strategy. First, check if this is a temporary dip in new leads due to seasonal factors or external circumstances. E.g. Christmas or US Tax day.😉
If the decline persists, review your lead generation tactics. Are your calls to action clear and compelling? Is your lead magnet still relevant to your audience? Sometimes, small tweaks in these areas can make a significant difference.
Action step: Evaluate your current lead generation entry points and call-to-action (CTAs).
- Are they benefit-driven?
- Ensure that your CTAs are easy to find and that they encourage visitors to take the next step, whether it’s signing up for a newsletter, a link in your email signature to download a free resource, or scheduling a consultation.
Decreasing Email Open Rates
Engaging Your Email Audience A drop in email open rates might indicate that your audience is losing interest, but it could also be due to less engaging subject lines or overly frequent emails.
To determine if this is a glitch or a trend, experiment with different subject lines and email frequencies.
Action Step: Segment your email list to tailor content more specifically to different audience interests. Do A/B tests on various subject lines and email schedules to find what works best for your readers.
Decline in Sales: Time to Change Your Marketing Strategy
Understanding Sales Trends While a drop in sales is a clear indicator that something might be amiss, it’s essential to understand the broader context.
Look to see if other metrics, such as website traffic, social media engagement, and customer feedback, are affected at the same time. Sometimes, external factors like economic conditions or industry trends can temporarily impact sales.
Action Step: Perform a comprehensive audit of your sales funnel. Identify any bottlenecks or areas where potential customers might be dropping off and address these issues.
Diminished Social Media Engagement
Revitalizing Social Media Efforts If your social media engagement is lower than usual, first be honest with yourself and check your consistency in posting and commenting.
If nothing has changed here, the reduced engagement might be due to changes in platform algorithms or shifts in your audience’s preferences. Analyzing your social media metrics over time can help you determine whether this is a short-term trend or a longer-lasting issue.
Action Step: Maintain consistency. Stay updated with the latest social media best practices and algorithm changes. Experiment with different types of content, posting times, and engagement strategies to see what works best.
Stagnant Strategy: It’s time to change your marketing strategy.
Keep Your Strategy Dynamic
Marketing strategies should be fluid with the times and adaptable to changes in the online environment. If you haven’t updated your strategy in the last few months and aren’t seeing the desired results, it’s time to review and refresh. Regularly reviewing and refining your approach ensures that you stay relevant and effective.
Action Step: Schedule quarterly reviews of your marketing strategy. This will help you stay proactive and responsive to market changes and ensure your approach remains effective.
Adapt to Market Changes
Staying Ahead in a Dynamic Landscape
The digital marketing landscape is ever-evolving, influenced by AI technological advancements, shifts in user behavior, and changes in platform algorithms.
Here are some factors that might affect your strategy:
- Market Saturation: The online space is becoming increasingly crowded, leading to “offer fatigue” among potential clients.
>> To stand out, focus on unique value propositions and authentic engagement. - Algorithm Changes: Social media and search engine algorithms change frequently, impacting your organic reach.
>> Stay informed about these changes and adjust your strategy accordingly. - Consumer Preferences: Consumer behavior and preferences evolve.
>> What worked a year ago might not resonate as strongly now. - Regularly re-evaluate and revise your offers based on current market needs.
- Trust Issues: With growing concerns about data privacy and misleading content, consumers are more cautious about sharing their information. Building trust through transparency and value is more important than ever.
- Mobile Optimization: With an increasing number of users accessing content on mobile devices, ensure your landing pages and forms are mobile-friendly to capture a greater number of leads.
Action Step: Stay informed about industry trends. Take courses on AI technological advancements. Regularly analyze your audience’s behavior and preferences to ensure your strategy remains relevant and effective.
How Often Should You Change Your Marketing Strategy?
Maintain a Fresh Approach
A marketing strategy should not be static. Ideally, it should be reviewed and adjusted every three to six months.
This allows you to stay aligned with your business goals, market trends, and consumer behavior. However, significant changes in your business environment or major shifts in consumer preferences might necessitate more frequent adjustments. Changing your marketing strategy shouldn’t be a knee-jerk reaction to every minor dip in performance.
On the other hand, you can continue to use an efficient and fluid marketing strategy by being alert and sensitive to the above-mentioned indicators.
By regularly assessing your strategy and making necessary adjustments, you can ensure that your marketing efforts remain aligned with your business goals and market trends.
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ABOUT JANICE HURLBURT
I help coaches and entrepreneurs shine their expertise online, by making the process of building their online presence fun, simple, and ready-for-success.
My digital agency will take care of the technology for you, help you shine like a star and get your expertise and efforts noticed. When you make me your partner in online management, I become the navigator of your journey, helping you map your success, attract the right clients, grow online and make more money.
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