Building a business and running it for more than a decade is truly an achievement. Not many can go past their first few years. However, the problem with maturing businesses is that often, they find it hard to catch up with new ones that are “born” in the digital age. One of the pain points of maturing businesses is maintaining their legacy status and appealing to a younger market.
To say that marketing strategies have changed in the last decade is an understatement. Digital marketing is ever-evolving, and you need to catch up with it, or you’d be left behind.
So what are the most common marketing challenges that maturing businesses face? Here are some of them:
The Marketing Tactics That Worked So Well in the Past Are No Longer Effective
The conventional marketing tactics that have been proven to work in the past are no longer reliable. Take email marketing, for example. It has been proven that email marketing is a great way to generate leads and sales, so you would think it would be an excellent investment, right?
But in fact, many experts suggest that email marketing is losing its popularity and effectiveness. They say that its open rate has significantly dropped, and people have forwarded emails to spam. What’s more, it is also complicated as it requires you to have a massive email list.
How about social media? Many businesses are still using social media to communicate with their customers, but many experts say it is not practical. They say that most companies are using social media the wrong way.
Customers’ Expectations of Your Marketing Strategies Have Changed, Too
The commonly used marketing strategies today are not only ineffective, but they are also not relevant to your customers. Customers want to feel that they are being listened to, and they want to be engaged with meaningful content.
They want to feel that they are being listened to, and they want to be engaged with meaningful content.
Take the digital age as an example. People are shopping online, and they want to be engaged with your business interactively. Social media engagement is a great start.
Not knowing how to use social media effectively can lead to ineffective marketing. You need to understand how to use social media in a way that makes your business different from the rest.
You Feel You Don’t Have Enough Time to Focus on Marketing
If you are a business owner, you know there is never enough time for everything. Each day, you need to spend hours on planning, social media management, marketing and sales, and more. It’s important to note that maturing brands can inject new energy into your business by updating your logo. Prada, Burberry and YSL are great examples.
So how can you find time to focus on marketing your business?
The truth is, you can’t. And it’s okay. You shouldn’t be doing everything by yourself, anyway. If you want to focus on marketing your business and you don’t have enough time to do it, you need to find a way to outsource your marketing.
Outsourcing your marketing will enable you to:
- Conserve your time
- Focus on what you are good at
- Save money
- Do marketing the right way
Conclusion
Marketing is challenging, especially when you have to compete with new businesses born in the digital age. However, it is a necessary part of any business action plan. If your business is facing challenges with its marketing, it may be time for you to look for help. The good news is that you can outsource your marketing. Just make sure that you know what you want your marketing strategy to accomplish and the results you want from it.
Nadda Studio specializes in brand design and development. Need help creating a modern, engaging brand? We’re here to help. Get in touch with us today for a free consultation.
