How to recover from a failing Market Strategy

How to recover from a failing Market Strategy

A perfect first-time marketing strategy is not only difficult to come by, it is almost impossible. Not only does the market work in mysterious ways, it is also difficult to have the correct data in one go. Even experts sometimes struggle to come up with a strategy which is perfectly focused on the market. If your hard numbers are down, and your sales refuse to pick up, then you have to do something to change that.

In this article, marketing expert, Sunil Saldanha of V-care, will help you to understand how to recover from a failing marketing strategy. Here are five tips that will help you to restart your marketing campaign with a new fervor.

1. What is unique about your strategy?

In the market, there are thousands of other people and brands, all trying to do the same thing that you are. They are trying to catch the attention of the consumer. So what is it about your strategy, which will stand out from the crowd?

You have to think out of the box and come up with a strategy to impress, while not fading into the background. Make sure your strategy is such, that the consumer not only sees it but that they remember it.

2. What is the value in your strategy?

There is no reason for a consumer to look into your product if you are not offering them something in return. Marketing guru, Sunil Saldanha of Thane, advises on making sure to incentivize your prospective consumer’s activities.

Not only should they know about your product, but they should also know that they will get something in return. Be it a free gift, or a discount, help the consumer feel like they are gaining something from dealing with you.

3. Are all of your small-scale tactics coordinated?

When you are building a market strategy, it should not just be a large-scale strategy that is not affected by the rest of the world. In a market, each small thing can affect how your product and brand is viewed by the public. If there is anything about your strategy that does not match with the rest of the campaign’s message you have to change that.

If you are utilising a strategy where your message is one thing, then don’t let the small things about your business say something else to the consumers.

4. Who is your target customer base?

Each product has a target customer base. Who is yours? Have you identified them? Trying to generalize your product from the get-go will not help you, as you need to focus and find your base customers, who will be affected by your strategy.

5. Change your entire strategy

You have tried everything else, and yet nothing seems to work. The customers don’t notice the product and it feels like your entire business is heading downhill. In case of such an event, you need to work on changing the entire scenario.

Do not focus on small parts of the strategies at play, and come up with a completely new idea, to utilize in your business.

Sunil Saldanha

Sunil Saldanha is Director Marketing at EmProcell Clinical Research Private Limited.

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