While new advertising strategies can bring a host of benefits, continually chopping and changing could be a source of harm for some firms. New methods of reaching customers are fun, but there are several downsides you need to consider if you are responsible for marketing in a company.
Resource Drain
The biggest issue is draining resources. Breaking with traditional approaches and trying something new is expensive, and often prohibitively so.
The main reason for this is the challenges the business faces when adjusting to a new regime. It is hard for companies to change how they operate quickly.
Consider the last time you tried to overhaul your approach to marketing. It is highly likely there were many payments involved, including hiring experts and fixing workflows to adopt the new approach.
Draining resources is okay in the short term if the project is going to work. But a lot of companies double down and continue making duplicate high payments for small returns over the long haul.
Lack Of Consistency
Another potential problem area is a lack of consistency. Chopping and changing all the time makes it hard to commit to any particular strategy, or measure it.
It’s one of the reasons why the Facebook ads agency, Mr Digital, is so keen on the idea of businesses committed to projects for several months or years. Results from any particular strategy can take a while to accrue.
“We find that it’s in our client’s interests to keep going on platforms like Facebook until they discover a strategy that works for them. Not every brand is the same, and you can’t always tell whether something’s working until several months into a campaign, especially if lead times are long.”
Being consistent is essential for firms that want to build a specific identity. Companies that can continually focus on a single approach to marketing are more likely to be those that find out which techniques work best for them.
The issue here is company heterogeneity. No two firms are the same. For some, Facebook ads are the best place to start, while for others, it’s SEO or print media. Again, the precise strategy depends on the company. The ones that work are those that are complementary to the brand.
Budget Problems
You could also end up in a situation where constantly switching between marketing strategies leads to budget problems. You might struggle to figure out how much you are spending on each activity, and which is offering the best return.
“Clients regularly come to us believing they are trying everything to get their brand message in front of their audiences,” Mr Digital says. “But the truth is usually that they aren’t focusing on the right channels for sufficiently long. Firms struggle to keep track of where they are spending money and how effective those outlays are. They believe having a finger in every pot is the right approach because that’s what many of the big brands are doing. But for small firms, focus is far more essential.”
Budget problems usually arise because companies aren’t managing their resources effectively. Many adopt different strategies that dilute their brand and provide poor returns on investment. Having a fragmented marketing budget is a problem and something that can lead to all sorts of issues in the future.
Short-Term Focus
Related to all the above points is the idea that continually switching marketing tactics means that companies have a short-term focus. Many are simply playing a kind of game, hoping something they do or say will lead to big things.
Again, that’s not how marketing works in reality. While it is true that some companies can achieve tremendous breakthroughs using new channels, it’s not the norm. Most progress comes from applying tried-and-tested techniques consistently for many months.
Take SEO, for instance. Getting that to work often takes at least six months, and full results might not occur for at least a year.
Facebook ads are another area where progress can be slow, at least initially. “Brands take time to figure out what their audiences want to see,” Mr Digital says. “It often takes a few months of testing a new ad concept before firms know it is the right method they should use. These things don’t happen overnight. Following the latest trends and crazes isn’t always the correct strategy.”
For many companies, this short-termism comes from the fear of missing out. Firms want to keep up with their rivals and often feel like adopting the latest crazes is the only way to do it.
Higher Risk Of Burnout
Following all the newest strategies also increases the risk of burnout significantly. You are more likely to feel exhausted if you are continually learning and implementing new advertising methods. While novelty at work can be a good thing, it can also significantly drain your time, energy, and resources.
You can usually tell you have burnout if you are exhausted or feeling more cynical than usual. Work ceases to be something you enjoy and instead turns into something you want to avoid. You also develop a bad attitude towards customers and colleagues.
The trick is to find shortcuts that work when it comes to marketing. One of those is to follow a formula you already know works well and that you can simply apply whenever you need it. That’s where consistent marketing strategies enter the frame. These let you focus on what is likely to work, freeing up resources for other things, like product development or dealing with customers.
Overlooking The Basics
You can also fall into the trap of overlooking the basics when you have a penchant for trying every new strategy that comes along. Things like targeting the right keywords or ensuring your brand voice is consistent across channels often take a back seat.
Ultimately, marketing doesn’t need to be complicated. All you need to do is find a formula that sells. When you constantly seek novelty, you miss out on the things already proven to be effective.
Also, remember that the basics are things that work for most companies in the majority of settings. These are proven strategies and tactics refined over many years of experimentation by brands. Fundamentally, they are about meeting the needs of the people you serve. And their emotional requirements are unlikely to change rapidly over time.
Too Much Information
The search for new digital marketing methods can also lead to information overload. Many firms enter a state of data paralysis, not knowing how to manage all of the signals coming their way.
The amount of incoming information increases exponentially with the number of channels and methods used. Firms that insist on trying every new approach are considerably more likely to run into problems when working out which approach to take.
“The analytical problems some companies can face are severe,” says Mr Digital. “Agencies often dedicate entire teams to understanding what the data say and how to implement findings. The idea that a regular company could do all that number crunching by itself is naive at best.”
It’s also challenging to derive meaningful insights from what’s there when the data becomes complicated. Companies often find themselves making numerous assumptions which can lead them to the wrong conclusions. Making informed decisions is essential.
Conclusion
Constantly looking for new ways to digitally market a business can be fun, but there are downsides, as we have seen. Companies can get lost in a maze of approaches and become overwhelmed by data. And employees or managers are at a higher risk of burnout from all the learning and implementation required.
If you do decide you want to use novel marketing strategies in your business, follow best practices. Ensure you use strategic planning to decide whether a specific approach is something you should use. Regularly review and update your strategies, but avoid the temptation to make frequent changes unless you have excellent reasons for adjusting your approach.
Experiment with what works and take time to digest the data. Don’t assume tactics will work immediately, even if you think you’ve had a highly creative or viral idea. Again, it takes time for new initiatives to percolate through and have a meaningful effect on your market.
Throughout the processes, focus on the customer experience. Make sure that any ads you serve make sense to them. Provide them with a positive experience across all channels, independent of the tools you employ. When experimenting with a new idea, double-check that it maintains your brand voice. Would a customer know who the advertiser was if they had never interacted with you through the new channel before?
Lastly, it’s a good idea to focus on employee well-being and consider it whenever you make any changes to your marketing approach. Constantly trying new strategies can make it difficult for employees to adopt a healthy work-life balance.
To correct this, provide them with training and support. Keep changes to a minimum and ensure you give them clear reasons why you want to make a switch, if any.
In summary, always consider the consequences of making changes to your digital marketing strategies. Be conscious of any impact it might have.