Every marketer has faced this dilemma: you’ve launched a new marketing strategy, but the results are falling short of expectations. What’s the next move?
- Do you stay the course, hoping the strategy gains traction over time?
- Or do you pivot—either returning to a previous approach or trying something entirely new?
Making this decision isn’t easy, but a structured approach can help you navigate the uncertainty. Here are my tips for evaluating your next steps:
1. Assess the Situation
Start by understanding the context and contributing factors. When the strategy was initially launched, specific conditions likely influenced the decision. Revisit those conditions to ensure they haven’t changed.
2. Evaluate the Results
Go beyond top-line metrics. Dive deep into the data to uncover insights. Are the results underperforming but still trending in a positive direction? Or are key indicators signaling that the strategy simply isn’t working?
3. Analyze Market Conditions
Consider external factors like economic trends, consumer behavior shifts, or competitor actions. For example, marketing strategies implemented before the COVID-19 pandemic faced unforeseen challenges due to rapidly changing market dynamics.
4. Validate Your Assumptions
Revisit the foundational assumptions behind your strategy. If the plan was based on specific beliefs (e.g., a CRM win-back program will drive customer growth), but those assumptions no longer hold true, it may be time to reevaluate the strategy.
5. Understand Customer Preferences
Leverage customer feedback, analytics, and research to gauge sentiment. Does your strategy address real customer needs? Hearing directly from customers can clarify whether the approach resonates or misses the mark.
6. Test and Experiment
Before making sweeping changes, consider testing potential adjustments. Run small-scale experiments or surveys to gauge the viability of any new direction and ensure changes will deliver the desired outcomes.
7. Decide if Change is Necessary
Weigh the costs and potential benefits of sticking with or pivoting the strategy. If the data is inconclusive, delaying the decision might be a viable option—particularly if changes would require significant resources or extensive planning.
8. Establish a Process for Periodic Review
Make regular evaluations a habit. Market dynamics and customer needs are constantly evolving, and periodic reviews ensure your strategies stay aligned with goals and external conditions.
The Bottom Line
There’s no one-size-fits-all answer. The right decision depends on your business objectives, market dynamics, and customer insights. Taking a structured, data-driven approach will help you make informed decisions that position your business for long-term success.
Photo by Austin Chan on Unsplash
