Three Tips for Marketing a Mature Business

 

Here in Louisville it will soon be time for a beloved annual tradition. The 138th Kentucky Derby is just two weeks away. It’s thrilling to see all the elaborate spring hats, taste mint juleps, spot celebrities, attend Derby parties, and to hear the sound of one lone trumpet play the tune of “My Old Kentucky Home.”

But above all this, Derby-goers get most excited about a bang, the sight of the gates opening and an announcer screaming, “And they’re off!”  Many horses will gallop, but there will only be one winner.

The business world is a lot like the Kentucky Derby. Competition is fierce and the stakes are high–and only companies with well thought-out strategies succeed and mature. Mature businesses, home care or not, are companies that have a strong base of clients and are well known within their industry or region. Plus, they’ve done a good job of branding—their name, logo and products or services are easily recognizable.

So how can you draft a marketing strategy that fits your unique stage of business life? The following marketing tips can help start the process:

TIP #1: Don’t get complacent.

Complacency is dangerous. A well-established customer base can deliver a decent influx of cash for a business, but it can also bring a false sense of security. Far too many agency owners fall into the trap of thinking that name recognition means they can fudge on their marketing plan, or not pay attention to their customers.

TIP #2: Use a strategy that fits the times.

Well-established companies often make the mistake of getting stuck in a rut when it comes to their marketing strategies. It’s not surprising–after all, if a marketing strategy got you this far, why abandon it? The answer to that question is that customers change and marketing strategies and tactics change with technology and competition.

TIP #3: Don’t stray from your core message.

It’s important that your company continues to develop new ways to market your products or services—but be certain that changing strategies doesn’t result in wasted time focusing on issues other than marketing. If you’ve got a good product that works, don’t change it unless a changing customer base demands revision. Change the marketing strategy – not the product.

My expert team at corecubed provides integrated marketing communications services using a strategic approach to help clients create high-impact campaigns to launch or rebrand products or companies. Contact us today!