Do you know how to interpret the clouds in the sky? In the area where I
live, we often get thunderstorms this time of year. You may trust your phone’s
weather app, but I take a look at the clouds in the sky every time I walk
outside. I have prided myself on my amateur meteorology skills. I can often
feel a storm coming by looking at the amount, color and size of the clouds,
sensing the heat and humidity on my skin, recognizing the direction and
velocity of the wind and the change in temperature it blows in. Just today, I
was outside and I thought there might be a chance of rain by the way things
looked up above. Sure enough, a light sprinkle started and stopped as I walked
along.
Do you know how to read the gathering clouds around your marketing? When
should you panic and run for cover and when should you just be carrying an
umbrella? There are indicators that point to times when you should change your
marketing and others when staying the course and weathering a little turbulence
is the wisest marketing move you can make. How do you know the difference? Here
are a few measurements you should take to test your marketing against current
developing conditions.
How well do you compete within your industry? Are there areas where your
competition is outmaneuvering you with their marketing? If so, does fixing your
competitive edge require a whole new direction for your marketing or just a
tweak? Take some time to evaluate this. Sometimes a minor adjustment is all
that is needed. There is no reason to blow up your marketing if you need to
fine-tune and vary your marketing plan. At the same time, if you are totally
missing the mark, it may be time to make a major change. Marketing methods
change over time. Evaluate where you are compared to your competitors.
Are there forces outside your industry that are changing things forever?
I just read that a major player in the HR industry filed for bankruptcy this
week. What has changed in the HR industry? Not all that much. People are still
looking for employment and businesses are still looking for workers. What
happened outside of the industry that impacted it? Job searches have become
much more driven by technological advances, particularly as it pertains to
database matching for employees and employers. I can list a job and have 100
candidates in the first hour. That not only changes the way business is
conducted, it changes the expectations of people searching for a job. What has
changed? The time that it takes for a response is now expected to be immediate.
What about your business – has it seen these kind of changes too? The way you
do business has to change with these expectations and your marketing has to
tell consumers what you are doing.
Do customers really need what you produce? Sometimes products and
services run their course. I was watching an old medical drama the other day
and a doctor was carrying a pager. When is the last time you saw someone with a
pager? They became obsolete as cell phones became more common. Is there still a
need for what you do? Evaluate your business in terms of what it offers
consumers. It may be time to rebrand what you do and emphasize a different
aspect that is more in line with the needs of today. It might be time to bag
your old products and services and come up with something new to stay relevant.
Read the times. Read your customers.
Evaluating your marketing is important to stay pertinent in business.
Just like you can read the clouds to tell what is about to happen in the
weather, it is important to recognize the marketing clouds gathering around
your business.