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4 Timely Tips for Marketing in Highly Regulated Industries

If you’re a small company with a limited budget, you may want to check the regulatory environments of countries before investing in marketing campaigns. However, if you are a big corporation with a global outlook, you may want to take a step back and look at your current marketing strategy.

For example, is your current marketing system sufficient to support the roll-out of your new product or service and deal with the increased regulatory scrutiny?

Are your marketing professionals up to date on the latest laws, regulations and trends? Or are they simply following the same old, same old?

You might want to consider hiring a marketing agency with a global outlook and a track record of success. Or, you may want to consider outsourcing your marketing agency and hiring experienced marketing professionals from other industries.

Here are some helpful tips that can help you think about and prepare for the marketing challenges ahead.

Research the regulatory environments you are planning to target

In some industries, such as healthcare, financial services and DIY/old-fashioned manufacturing, the government has a very limited presence.

What are the key challenges in each environment?

There are several common challenges in all industries, whether government- or not.

The biggest challenge in any industry is simply getting enough people to buy your products or services.

If people aren’t buying your products or services, you won’t make money.

Beyond that, though, each industry has specific challenges that your marketing team must overcome.

Define your core success variables

Once you’ve identified the core success variables of your business, you can begin to define your priority list.

What are your top three priorities?

After that, you can divide your top three priorities into more specific categories.

For example, your top three priorities could be customer service, retaining your top customers and increasing sales.

Evaluate your current marketing system and make an informed decision

Once you’ve defined your priorities and selected your core success variables, you can start to evaluate your current marketing system.

Is it working well enough to get you where you want to be? Is it efficient enough to support your top priorities?

Hire a marketing agency with a global outlook and a track record of success

As you conduct your evaluation of your current marketing system, you may come across an agency with a global outlook and a track record of success.

If you’re in the market for a new marketing agency, it may be worth your while to talk to a few different agencies.

You want to make sure that your chosen agency has the experience and connections to help you target your top priorities across the full breadth of your industry.

It may be worth your while to hire a marketing agency with a global outlook and a track record of success. After all, you may need an agency with experience in your industry to help you plan your next campaign.

Stay organized while planning your marketing strategy

Keep your marketing strategy organized and accessible for easy reference.

If you have a plan for your marketing strategy, it will be much easier to make informed decisions and take concrete steps toward achieving your marketing strategy’s goals.

Take action on your planning

Once you’ve found the right agency for the job, the next step is to sit down and have a serious conversation with them about your marketing strategy.

Here are a few questions to get you started.

Wrap up

Now that you’ve had a chance to meet with your marketing agency and get some ideas for your marketing strategy, it’s time to take action.

You can start by looking over your marketing plan and making any necessary corrections. You can also start to engage your marketing team in the planning process so that they can support you as you move forward with your new marketing strategy.

Having a well-rounded and prioritized marketing strategy is essential to success in any industry. The more competition you face, the more important it is to have a strategy that includes developing and implementing a digital strategy as well as a traditional marketing campaign.

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