Heading into 2020 with a balanced approach to Marketing
Following a recent report that suggests both digital and social media budgets are set to rise in 2020, we’ve decided to look at the changing shape of the marketing landscape as we head into the new year.
As with the fashion industry, marketing trends come and go. Organisations should be mindful of this and continue taking a balanced approach to their marketing. As the saying goes, businesses should refrain from ‘putting all of their eggs in one basket’ and consider the bigger picture in relation to their marketing efforts.
The Digital PR and Communication report found that 53 per cent of digital and social media budgets have increased over the last 12 months and 49% are expecting them to increase further next year.
Social Media Activity
There is a common belief amongst organisations that it is essential to have some degree of social media presence, and whilst there is some truth in this, it is only worthwhile if it is delivering the desired results and can be sustained. The findings of the report found that many organisations are struggling with the latter (sustaining the activity) due to a lack of resource and expertise. Given the industry, a degree of social media presence can help you to keep abreast of the latest industry news and local knowledge but may not convert into direct sales. With this in mind organisations should consult their overall business strategy prior to channelling all of their efforts towards social media in case the two are not aligned.
Digital Marketing Efforts
As more and more consumers continue to turn to digital channels to fulfil their fact-finding needs, businesses are following suit in order to remain competitive. The increase in web-based searches are calling businesses to spend more of their time online, video-based content is on the rise and standing out from others is proving to be more difficult than ever. As digital marketing continues to reign, budgets are set to soar. Could the answer therefore be to step away from this arena and find a less saturated environment to market your business?
The Value of Traditional Marketing
All kinds of activity falls under the traditional marketing umbrella, and unfortunately some of these powerful tools are being left behind due to the rise of digital and social. Networking is making a resurgence and individuals are increasingly interested in the human approach to business rather than the corporate and impersonal approach. The notion ‘actions speak louder than words’ is very fitting in this context and addresses the need to rebalance marketing activity. A thoughtful and considered merchandise gift, a handwritten message or a friendly conversation, speaks volumes nowadays.
Taking a Holistic Approach to Marketing
The marketing arena is highly competitive and there remains no doubt that there is real value in marketing your brand. If no one knows about your business, it’s unlikely to be sustainable. There is no right or wrong way to approach a marketing strategy or spend a marketing budget (to an extent!) but it is inevitable certain activities will work better than others. Don’t say no to trying a something ‘a bit different’, it can be the simplest and ‘old-fashioned’ activities that can reap the rewards. Standing out from the crowd and getting heard in amongst all the noise is ultimately what you want to achieve and that is why sometimes it is important to ‘buck the trend’ and take a more balanced approach to marketing.
If you would like to discuss your marketing plans for the year ahead, or even just for a sounding-board conversation with one of the team at Fabulous Marketing, get in touch by calling 0800 112 0880 or by emailing firstname.lastname@example.org. You never know where the conversation may take you!