Marketing campaigns change directions all the time. Sometimes the best target market didn’t turn out to be what you thought. Other times, a new market suddenly pops up and you want a piece of it before competitors do.
There are more extreme cases though when a new market of sales leads will demand an entirely new direction for your business.
For example, famed drugstore chain CVS has stopped the sale of tobacco in its stores. For those who’ve wondered how drugstores ever came to sell cigarettes, this move was long overdue. But for the company itself, its seems the intention is more than just living up to the expectations of public health advocates. It intends to change its name to reflect a ‘a new era.’
Changing the name of your business isn’t the only thing that belies a bigger change that a new market demands. Other drastic measures could include rebranding, creating new products, an entirely different channel for your lead generation campaign.
- Rebranding – If you’ve heard of it before, you will now that changing a company’s name is just one part of the process. It involves an extreme makeover of all your marketing content. From websites and emails to even the catalog you put down in the lobby. It is a massive overhaul and it won’t be easy.
- New products – It’s not hard to imagine new products pushing you towards a different market. In fact, it’s more likely those products were made because of it! That’s why your marketing campaign needs to reflect your new offers. Dunkin Donuts, while it still sells donuts, has been known recently for pushing its coffee products in attempts to knock out Starbucks.
- A new channel – Perhaps the mildest case of going in a different direction is adopting a new channel. But beware, every marketer knows there’s more to adopting, say, social media than just putting up a profile. Channels don’t just call you to use the properly. The represent certain values that your business may take a while to adopt.
Going in a new direction is a part of business, but it’s not always as easy as it looks. That’s why you need to carefully assess your sales leads even if the sailing’s currently been smooth. You never know when the tide is going to change.