Marketing strategy – why should your marketing be a work in progress?
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In this Marketing Nugget, we’re looking at why a key part of your marketing strategy should be to have a work in progress mindset. We’ve got three really actionable tips, which will help you to make your marketing activity more effective:
Marketing strategy tip 1 – test and learn
Having a test and learn mindset goes a long way
When you’re doing your marketing activity or running a crowdfunding campaign, the aim is to test out different approaches and see what works best. Testing and learning is just the same as good old-fashioned trial and error, but with a positive spin on it.
There’s lots you can do to test out your marketing activity and make it more effective:
- You could post on social channels on different days of the week and at various times of day.
- This will give you an insight into when your target audience is most active and engaged.
- You could also test out different types of messages.
- Again, you could test the day of the week and times of day when sending emails.
- You could also test out different subject lines to see what’s most likely to encourage your target audience to open the email.
- Will it be bold statements or intriguing questions which get people wanting to know more? And, would using emojis work for you?
Website content and blogs
- Here you could test the length of the text and how it’s broken up with sub headers and bullet points.
- You could also look at the use of images and calls to action such as links to other webpages.
- Most importantly, look at your website analytics to see what pages people stay on, how many visitors you get and what they click on.
However you go about testing and learning, it should be central to your marketing strategy. The most important thing is to make sure you have two direct points of comparison. When you have this, you can then look for patterns in the results.
Marketing strategy tip 2 – move quickly
Respond quickly to what you’re seeing
Once you’re confident about the behaviour you’re seeing from your target audience, the next step is to respond by make the changes or tweaks required.
At this point, it’s all about moving quickly. Your target audience is interested in what you’re doing. If you can build on this with more effective marketing activity you’ll have even more of an impact.
When we did the Brew York Revolution crowdfunding campaign for craft brewery, Brew York, we saw that most of their beer loving target audience wanted to support them by doubling their money in beer. Our campaign helped them to raise over £56k in 21 days with rewards-based crowdfunding.
Here’s the thinking that went into the marketing strategy:
Where we started
- We called on craft beer lovers to unite by starting a craft beer revolution.
- It was all about saying no to bland, boring beer and yes to weird and wonderful brews.
- We knew that the ‘Double your money’ reward would be popular. We just didn’t know how popular it would be.
What we quickly learnt
- The vast majority of beer lovers wanted to double their money rather than take part in behind-the-scenes experiences.
- That said, experiences such as learning to brew still played an important role as they met the needs of the biggest of beer lovers.
- It was important that we made the most of the interest we were seeing in the ‘Double your money’ reward.
How we responded
- We quickly opened the Bank of Brew York which very much did what it said on the tin.
- The aim here was to find a succinct way of communicating just how good the ‘Double your money’ reward was.
- It meant we could talk about ‘investing in your beer future’ and with the ‘100% interest rate’.
You can see how the Bank of Brew York played a key role in our Brew York Revolution crowdfunding campaign.
Marketing strategy tip 3 – keep adapting
Our final tip is keep adapting. This is the key to great marketing. It’s also the main reason why your marketing activity will always be a work in progress.
And so, what’s the cycle:
- Firstly, you test and learn across your selected marketing channel or channels.
- Secondly, you move quickly to make changes once you’ve seen a pattern in the results.
- And then thirdly, keep going around the loop.
Changing the point of view
Taking a different perspective on your marketing strategy can really help. Rather than seeing any marketing activity you do as ‘once and done’ look at it as a constant work in progress.
The world of tech takes this approach and it’s all about the MVP – the minimum viable product. You can apply this to your marketing strategy. It’s about working out what are the fundamental things needed to make what you’re doing work and then being brave enough to put it out there.
Done is better than perfect
The thinking here is that striving for perfection holds you back. It’s better to get what you’ve done out there. As soon as you find out what your target audience thinks you learn so much more because their feedback informs your next steps. You then make further changes, put them to your target audience and as a result learn even more.
Your marketing strategy is a continuous cycle or what’s known as a virtuous circle. It’s the opposite of that vicious circle we try so hard to avoid. Getting in a positive loop can work wonders for your marketing because one good thing often leads to another.
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A quick recap
We’ve boiled down this Marketing Nugget on taking a test and learn approach to your marketing strategy to just three sentences. They’re easy to digest and then put into action:
- Test and learn – test out different approaches and see what works by really getting into the detail of the results.
- Move quickly – once you’re confident about the behaviour you’re seeing from your target audience quickly make changes.
- Keep adapting – rather than seeing any marketing that you do as ‘once and done’ look at it as a constant work in progress.
Fancy a chat?
If you’re thinking about how you approach your marketing strategy with a test and learn mindset and are looking for some help, please just give us a shout. We can have a chat over a coffee underneath the space rocket in our office.
Want more Marketing Nuggets?
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- In each of our Marketing Nuggets blogs, we give you 3 really actionable tips and we also have an accompanying short video on our You Tube channel.
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- And, section 8 of our nitty-gritty guide to crowdfunding looks at how you can adapt and move quickly when you’re crowdfunding.
And finally – thanks for reading. We’d love to know what you think – what’s good, what we could improve and your ideas for future Marketing Nuggets?