In the fast-paced world of marketing, success lies in adaptability and continuous improvement. To ensure your marketing efforts are hitting the mark, it’s essential to regularly review and redefine your marketing strategy.
This will help you evaluate if your objectives and areas of focus are still correct or if you need to make adjustments, enabling you to stay ahead of the competition and maximise your results. So how do you review your strategy effectively?
In this blog post, we walk you through three important things to consider when reviewing your marketing strategy, so you can maximise your marketing ROI. Let’s dive in!
1. Analytics and insights: the first step when reviewing your marketing Strategy
Start by analysing your analytics and insights. These metrics will vary depending on your goals and can include:
- Website traffic.
- Lead conversions.
- Social media engagement rates.
- Email open rates and click-through rates.
Focus on identifying trends and patterns and tweaking your strategy accordingly. For example, if you noticed that in the last three months your audience has engaged more with video content, increase the budget for video creation. This will enable you to increase engagement rates and potentially generate more leads.
2. Engage your team when reviewing your marketing strategy
When reviewing your marketing strategy, it’s crucial to involve all the teams involved in marketing (not just the marketing team). Bringing the sales, BD or product teams together with the marketing team will help you to set and prioritise goals, as well as focus on the activities that will have the most impact. A truly team effort will provide the right synergy to drive growth.
So engage your team leaders and other stakeholders and understand if the current marketing strategy is serving their team’s purposes well. Gather their insights and perspectives on what’s working and what’s not, and translate their feedback into changes to your strategy and future marketing activities.
3. Talk with external marketing agency for different perspectives
When you renew your marketing strategy, consider the added value that using an external consultant can bring to your organisation. An external marketing agency can run a workshop bringing stakeholders together or conduct an independent review. They’ll provide an external and expert perspective on how to refocus your strategy or create a new strategy that will bring great results.
When you are selecting a provider, choose professionals who have expertise in your industry. They will be the most qualified people who can help you get the best return on your marketing investments.
If you are looking for professional marketing support, get in touch via hello@wearesavvy.com.au to see how we can help.