Running a successful business requires taking risks. While playing it safe can protect your business at every turn, it’s not going to put you ahead of the pack anytime soon. It’s worth taking chances for this very reason, as you might end up garnering a larger audience or a greater return on investment (ROI) based on the business decisions you make.
Yet while you should be taking your business to higher levels, you should equally guarantee you’re protected along the way. This self-protection comes in the form of a trusted marketing backup plan.
A marketing backup plan is needed whether you’re running a small or enterprise business. This plan is necessary as it’s a form of business protection: You’ll be prepared, ready to pivot your marketing strategy, even if things do not go as planned.
As a marketer, it’s imperative that you have a plan in place for your business. A well-designed marketing plan allows your business to look toward the future, setting guidelines for goals as well as expectations related to annual progress. Yet, try as we might, expectations do not always meet reality. Truthfully, life tends to throw us many curveballs along the way.
Your backup marketing strategy is the foremost way to ensure your company is protected in the event of sudden business fluctuations, marketing changes, and cultural shifts. Disasters and shifts that can occur include the following:
While we might plan ahead for future business success, we never know what reality will throw at us. It’s important, for this very reason, that your business has a Plan B set in place, such that you can remain protected no matter what life throws at you.
The primary need of your company’s backup plan is self-protection. A business running blind, regularly making decisions on the spot, is a business set up for future failure. Decisions should be made with a great deal of foresight, planned in accordance to team discussions between inter-business departments, market expectations, and much more.
When set in place, your company will end up with a safety net that will work behind the scenes of your main marketing decisions. The best part is that these don’t have to be set aside just for a rainy day, either. You can begin implementing assets from your business’s backup plan, before putting them into action at the last minute, when you’ll need them most.
Already having established plans, beyond your primary method of marketing, is a surefire way to protect your business, as you’ll have an interconnected network driving people to your business that won’t require the stressors of getting it off the ground. Here are some plans you should consider incorporating into your business beyond your basic product and development approach.
If you haven’t already gotten your company on the social media train, it’s time to get onboard. Social media has proven itself as a successful avenue for companies to reach out to customers, find greater audiences, and increase brand engagement—specific social media trends have made it easier to achieve all of these. In strange economic times, social media platforms allow you to still interact with customers, whether for free or by placing targeted ads.
Yet, it’s important that you set up your social media profile sooner rather than later—it can be difficult to garner a following from nothing, so you should begin by posting content and interacting with other users and fellow businesses to gain a following.
An affiliate marketing strategy is a sound way to protect your business, providing it with a fortified backdrop that will act in support of other business and marketing ventures. Whether connecting with social media influences or fellow businesses, a well-strategized affiliate marketing network can provide your company with fruitful outreach to increase long-term brand engagement.
One of the best qualities to implementing an affiliate marketing strategy is that it can allow your business to address global issues that might be affecting your marketing bottom line, as well as many other people’s lives. Along with providing you active marketing support and growth, an affiliate marketing strategy gives you the perfect line to reach out to people during times of struggle.
You don’t have to be selling them anything through your messaging, either; your contact and approach, through your affiliates, can be as simple as discussing where you’re at and letting people know you’re here for them, whatever your products and services.
Another proper backup strategy you can implement to support your business is the creation of a corporate social responsibility plan. How it’s implemented from business to business differs greatly, but corporate social responsibility (CSR) is directly related to a company’s brand, messaging, and beliefs.
At its core, CSR is a simple way in which companies can show their audience their morals through charitable and responsible action. Many businesses are utilizing CSR plans, nowadays, to improve their environmental standards along with other social programs. It’s a simple way for a company to work behind the scenes to make internal improvements that better the world around them, and which can still work toward improving primary marketing goals.
And, in case anything goes awry, such as the onset of a global recession or a pandemic like COVID-19, your business can modify its CSR goals to meet the social situations of the time.
While your company’s primary marketing plan should be as well-thought-out as possible, you should have a proper backup plan in case anything dramatic happens that has not been expected. The above are just a few options to creating a proper backup plan—one that can protect you when it matters most.