Digital marketing has become an essential part of business strategies to boost your online presence and increase conversion rates. We all can agree that in this day and age, digital marketing strategies are more effective than conventional marketing because a large number of audiences spend time on the internet.
Brands and companies strategize a plan to take their businesses to the next level. They put it their time, effort and money to execute the idea, and it does bring in good ROI. But technology and trends keep changing constantly, and there comes a time when companies should consider a pivot in their marketing strategies.
The brands must keep changing the strategies and try new marketing platforms to find an optimal solution. They also have to cater to the new target audience and create content and marketing strategies.
Investing Time And Money For Your Digital Marketing Pivot :
The change in marketing strategy is essential for all brands and companies. It enables them to innovate and find optimal solutions cost-effectively and allows them to convert leads into sales. Here are some reasons why companies should consider a pivot in their marketing strategy.
- You may realize you have been marketing in the wrong channel where your paid ads are not converting into leads and sales.
- A pivot is needed when your digital marketing strategy does not perform well as expected.
- When your campaign is not reaching the target audience, and they are not engaging enough.
- You can also make pivots in your strategy when you want to explore and find new ways, instead of following strict guidelines or rules.
- Making changes and exploring new marketing strategies is excellent when you are offered the time, resources and money to start a new campaign.
Types of Pivots and How To Initiate Them :
We can all agree that a pivot needs a purpose and should be backed by facts, statistics and a thorough plan. So when we categorize pivots, it will be easier for the marketing team to identify goals and the purpose of them. Here are some of the pivots used in marketing strategies.
Pivots Initiated By Marketing Teams :
These kinds of Pivots are initiated by the marketing team when they feel the campaign can be improved and could be optimized more. This team-commenced pivot comes up when someone in the group wants to learn and explore new things, and it will end up being useful to the entire marketing strategy. But when you are presenting an idea, make sure it is backed up with facts and statistics.
Pivots Initiated With Platform Changes :
There will be a time when various platforms and channels go through profound changes, and it ignites sparks in the marketing team to try the platform because of new changes. But before trying, have a roadmap and strategies to explain your actions on why going forward with this platform will be beneficial.
Pivots Initiated By Leadership :
The pivots initiated by a compulsion to achieve specific goals within the budget are called leadership initiated pivots. They are essential to achieve the set objectives of the business when the initial marketing strategy is not working.
In conclusion, pivoting in digital marketing is necessary to cope with the changes and achieve optimal solutions for the business. There can be success and failures, but marketers should embrace both, especially learn from their failures. The important thing is you gained valuable knowledge from both success and failures and can use it in further strategies.
Author Bio :
Gagan Mahotra is a business person and entrepreneur who has experience in the Internet Marketing industry for over a decade. DreamWorth Solutions is one of the top most Internet marketing companies in Mumbai.