Is Your Marketing Strategy Rooted In FOMO? It Shouldn’t Be


Is Your Marketing Strategy Rooted In FOMO? It Shouldn’t Be



by , May 18, 2022
With changes in technology and capabilities evolving on what feels like a daily basis, it can be easy for you, as a marketer, to feel overwhelmed, behind, and concerned. You’ll ask yourself: Am I doing what’s best for my brand? Is my strategy outdated? Are my competitors’ strategies better?


With the influx of marketing trends and intelligence tools, we are entering what feels like the early social media age in digital. This means there’s a lot of comparison and self-doubt when flashy tactics gain more attention from onlookers. This leads to marketers chasing after the shiniest new trend without direction on how it will affect their business goals.


If this is you, it’s time to look in the mirror and ask: “Is my marketing strategy sound? Or am I experiencing FOMO?”


To accurately assess if your strategy is being derailed, you must answer these key questions:


#1: Is my strategy truly customer-focused? If you are losing sight of your brand’s most important assets, its customers, then you are in for a world of hurt. Each marketing tactic you implement should be laser-focused on adding value for your current and potential customers. What touchpoints are going to create meaningful engagements with your customers? Where do your customers spend time?


Is TikTok a key social platform? Great! Are you able to generate UGC-esque ads? If the answer is no, then you are likely to do more harm than good with your customers by getting impatient and running disruptive ads.


Most importantly, if your customer is not actively using TikTok, then DON’T RUN ON TIKTOK TO MAKE YOURSELF FEEL COOL! It seems simple, but fear of missing out can result in bad business decisions.


#2: Am I actually optimizing my current marketing strategy?  If you aren’t using historical campaign data to make informed decisions about what tactics to test, then you are likely picking and choosing your marketing tactics based on confirmation bias or FOMO.


Before you keep chasing the high of something new, understand what’s working in your marketing strategy and analyze what isn’t. Ignoring rich data learnings will ACTUALLY cause you to miss out on opportunities that enable marketing to be the hero of your brand story.


#3: Do I feel like I’m continually trying to keep up with the Joneses? Looking at competitors and trying to copy and paste their strategies is 1) exhausting and 2) a recipe for failure. Sure, imitation is flattery, but it also means that you are likely always one step behind.


Instead, do your due diligence in staying apprised of the latest in marketing and industry. Identify trends that make sense to test based on your desired business outcomes. Finally, assess if you have the resources to execute that trend well.


Focusing on other brands’ “profiles: with a FOMO frame of mind will undoubtedly lead your marketing down a long, difficult and potentially costly path. Instead, ground yourself by being customer-oriented, data-curious, and learning-obsessed. This work will result in your brand strategy being the one competitors look to for inspiration.


Fear of missing out can result in bad business decisions. If your customers aren’t on TikTok, don’t run ads there to make your brand seem cool!

 

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