Marketing to Stay Competitive in a Rapidly Changing Marketplace
Presented by STC Guest Author Noleen Mariappen
The world of business is rapidly changing, and what’s cutting edge in marketing right now, can be old news as quickly as tomorrow. Keeping abreast of the latest and most innovative marketing methods that offer a high return on investment is key for business growth.
It’s true that some tried and trusted ‘old gold’ methods, like celebrity associations and television advertising still work, but it’s imperative that you’re on a par with current marketing trends like the host of social media options, and have a watchful eye for any market shifts.
If you’re an internet marketer, then SEO is one of your main considerations, but unfortunately, the search engine indexing algorithms quickly become outdated. Keeping your knowledge current is essential if you want to keep ahead of the rest and get higher rankings.
You should also be on a constant lookout for new and creative ways to market and increase brand awareness. You also need to consider that methods that may work for some businesses may not work for others.
Continually assess and re-assess your target market; look at what their interests are, what activities they engage in, and where they spend their time. This knowledge will give you solid pointers as to where you should be directing some of your time and energy.
Wherever possible, don’t become too heavily invested in any particular method until you’ve tested the waters and have done some pilot runs. Have a strategy to assess the results of your efforts or you could just end up throwing money away based on an impression of how well your marketing avenues are doing.
If a specific strategy works for you, don’t just continue with it as is indefinitely. Explore all options, and look at how you can expand by building on the methods that work and be sure to revisit previous marketing methods as well.
When working on your marketing plan of action, try to allocate approximately 20% of the time you have for marketing, toward researching and testing new strategies as a means to increase profits. Also, take the time to review your products and/or services. It’s not enough to find the best marketing methods; you have to assess how your offer can be ‘spruced up.’
Brainstorm all how you can diversify, and thoroughly research additional profit lines to make sure there’s a market for it. Think about added value that you can offer, re-makes, new-and-improved options, etc.
Even if what you offer is of excellent quality, it doesn’t hurt to add a bit of frosting, but be careful to consider options that complement and build on your brand, not that which will take a great deal of time and effort to gain brand traction in their own right. Ask questions like what would attract new customers, retain old customers, and get you repeat business? If correctly implemented, a few strategic changes can go a long way.
Don’t fall behind with the latest techniques, keep up-to-date with your target market, be creative, continually assess your product lines and the return on investment of your marketing efforts and you’ll be on your way to staying competitive in the shifting consumer landscape.
A quick note from the author: I am committed to seeing others succeed, both in business and personally, and I hope that this article has been useful to you. I value your thoughts, so if you have any comments or questions, please send me a message on http://www.Facebook.com/iamnoleenm, or through my website contact page at, as I will continue to improve my resources based on your feedback.
Thanks for reading!
© 2016 Noleen Mariappen
I am committed to seeing others succeed, both in business and personally, and I hope that this article has been useful to you. I value your thoughts, so if you have any comments or questions, please send me a message on Facebook, LinkedIn or through my website contact page ( http://www.noleenm.com ), as I will continue to improve my resources based on your feedback. Don’t forget to like my Facebook page and sign up on my website for e-book offers, free resources, articles and for information on consultancy services.
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