But a proactive strategy is a crucial long-term investment. So what are the five top steps you can take in controling your company's marketing future?
- Segment your database - Analyze client purchase behavior, create new segments or subsegments. Example: Customers new to online capacity that need coaching as first-time users.
- Ask your customers where they could use help in your transaction stream. There’s nothing better than a customer willing to suggest improvements. Select the items that align with your strategies and data availability.
- Promote Replacement Parts - In this economic context, your customers are likely to opt for the replacement vs. the larger device - how can you make it even easier to find replacement parts than before?
- Review Your Automated Programs - Audit automated workflows and pause programs that are not relevant - or must be replaced by new rules.
- Embrace online trade shows. With online trade shows, you can sponsor, get on the speaking track and do ads for virtual attendees. You’ll need sharp messaging and good storytelling to make the investment worthwhile.
But the steps you take within your organization aren't the only options. You can also make changes to your Marketing Technology (Martech) Stack. What can you do to upgrade your Martech?
- Optimize the systems you do have - you can’t be transactional without system connections.
- Leverage predictive analytics to improve the accuracy of demand forecasts and suggest smarter allocation and replenishment strategies. Adapt your marketing messages based on this data.
- Build your infrastructure for automation, including email and social media.
Marketing is your opportunity to provide highly contextual and helpful messages to current and future customers. Use tools to speed up and automate the process and improve reporting so that you can adapt.