In business as in life, you need to be prepared for anything. Things can change in the blink of an eye and you need to be ready to adapt.
The Internet in particular makes things happen much more quickly than ever before. Internet marketing also makes up a larger share of most marketing budgets than ever before, and that’s why it’s so important for your marketing strategy to be dynamic rather than static. You should never write anything in stone, or you’ll be kicking yourself later. Here are some things you need to prepare for in your budget.
The Rise of Mobile
Right now mobile marketing is in its relatively infantile stages. Businesses who put a lot of money in mobile marketing now are using a new strategy that hasn’t been thoroughly tested, which makes mobile marketing somewhat of a gamble. Putting too much OR too little in mobile marketing is a bad idea.
Not everyone is successful with mobile marketing, and you need to be able to bounce back if it doesn’t work for you. At the same time, playing it safe and not testing mobile marketing isn’t too smart, either. A better idea is to make a little room in your budget for mobile marketing, and increase or decrease as you determine if it’s working or not. In other words, you don’t want to put all your eggs in one basket, but you should be prepared for the inevitable rise of mobile.
Tracking and Analysis
Tracking and analyzing your marketing efforts is crucial, and you should set aside a little extra wiggle room for it. With Internet marketing, there are more and more programs designed to help you interpret and track your marketing efforts. Investing in some of these tools is a great idea, especially if you’re having trouble determining your real return on investment. Tracking for Internet marketing is a continual process, and it can be much more time-consuming and complicated than tracking for print marketing. As time goes on, you’ll want to be prepared to analyze and adjust your efforts accordingly.
Sometimes your marketing ideas fail, and that’s why it’s so important to have a dynamic strategy. If it is apparent that something isn’t working, you need to change it or abandon it immediately, or you’ll be wasting lots of money and time. You shouldn’t be forced to follow through to the bitter end just because you didn’t plan for failure. No one likes to admit defeat, but it’s a disservice to any business to continue doing what doesn’t work.
Your marketing strategy needs to be dynamic because trends are changing all the time. As already stated, the Internet makes things happen so quickly; new trends can appear and spread almost instantly. Your business needs to be ready to hop on the bandwagon so that you’re able to capitalize on new trends before they go stale again. Being too static can result in your marketing efforts appearing outdated or uncool.