In marketing, nothing works forever. At least you shouldn’t count on it.
Laws change, rules change, trends and interests change, and you need to be prepared to respond when they do.
If your advertising used to work like gangbusters but it’s a different story today, your ad copy, keywords, or offers might be the culprit and need an update. If you do seminars and response is down (attendees, percentage of client conversions), it might be because of an increase in competition, or the economy has thrown a monkey wrench into your marketing machine.
Or it might be something else
No matter what the reason, you need to adapt. That might mean:
- Reducing your overall ad budget or eliminating marginal campaigns
- Increasing your ad budget but changing your copy or offers
- Starting a new practice area or eliminating one that’s draining your resources
- Changing the markets and clients you target
- Reducing overhead and riding out the storm
- Spending more time on X and less time on Y
- Hiring different staff or advisors
- Changing your fee structure and billing practices
- Adopting marketing strategies you’ve never used before or resurrecting strategies you no longer use
- Focusing more on evergreen strategies, e.g., referrals, and less on the flavor of the day
- Improving marketing and sales training for you and your staff
But you need to do something.
But don’t wait for response to drop or your profits to languish. Be nimble and get ahead of things at the first sign of things going in the wrong direction.
Because you’re in a business and what worked yesterday might not work tomorrow.
