There are plenty of risks in running a business, but have you considered taking risks with your marketing creative? The temptation with marketing is, of course, to rely solely on the numbers and to fall back on what's worked previously. The problem, of course, is that the context of marketing is accelerating across a path defined by mobile technology and a new emphasis on the user experience. It should be no surprise, then, that the top CMO's are predicting a return to fearless creativity in the marketing sphere. The growing prominence of "risk marketing" is also a strong indicator that risks need to be taken in advertising.
In today's post, we'll discuss the benefits of taking risks with your marketing by identifying the four times you must take those risks.
Your Competitors Are All Doing the Same Thing
Perhaps there are good reasons your competition is all doing the same thing. After all, it's likely their efforts are built on market research. However, when everyone is saying the same thing on the same channels, they start to blend together. Taking risks means standing out and developing a unique persona that catches consumer attention.
Your Current Tactic Is an Industry "Standard"
While this sounds similar to our first indicator, it's worth breaking out into its own point because it's creative that's so ingrained it's become institutionalized. The temptation is to believe that "if it ain't broke," you don't need to try something different. However, just because the standard is offering decent results, that doesn't mean that something new isn't going to blow those results out of the water. Remember, taking risks with your marketing isn't the same thing as trying to push your brand so far out of the box you don't have a leg to stand on. Reaching beyond the industry standard could mean a number of things, from adding radio or another new channel to your marketing mix or experimenting with new creative elements and storytelling tactics.
You Need to Capture a New Audience
If you've hit marketing gold using a particular creative method with a particular segment, that's great. But it's important to remember that different market segments have different preferences and needs. They're going to approach your brand from a different perspective. Advertising to them is going to require understanding and meeting their unique needs, and trying to use what worked for another segment simply isn't going to be as effective.
To look at it from another perspective, taking the creative risk to experiment with new marketing techniques could bring in a new market segment you hadn't even thought of trying to reach. Doing the market research to take those risks could unveil new market needs your business can provide solutions for, which can further broaden your audience with new members.
Your Current Creative Isn't Working
As the saying goes, the definition of insanity is trying the same thing over and over again while expecting different results. It's all too easy to revert back to your comfort zone when confronted with initial failure or negative responses from competitors. If your current creative strategy is mediocre at best, this response is more harmful than helpful.
To be more specific, cutting through the competitive noise of advertising can mean taking an approach that means your ads don't look or sound like ads. There's a good chance that your marketing creative isn't working because it's trying too hard to pitch a sale, and no one wants to be sold to. Take the risk of finding what will help your audience listen to you instead of letting your ad be forgettable like another piece of white noise.
Now that you know when you should be taking risks with your marketing creative, you should audit your current strategy before you start your next campaign. There's plenty of new outlets and new tactics to be approached that will help you create and capture customer moments. Be bold and truly creative, and you'll discover the benefits of taking risks with your marketing when you establish your brand as unique, engaging, and the top choice for your audience.