A recent Creative Group study found that 65% of Marketing executives wished their agencies would take more risks. While taking marketing risks may seem counter-intuitive in today’s rough economy, it is actually sage advice for businesses to adhere to.
It is marketing’s job to create a connection with your audience in encourage them to act. If you communicate like everyone else, it is harder to make that connection. Yet in tough economic times, businesses seem hesitant to take risks for fear they might offend a potential customer.
But the reality is taking creative risks is one of your best chances to gain customers by standing out from the crowd. This does not mean you need dancing monkeys. It does mean trying new things.
If no one in your industry offers a guarantee, determine how you can offer one that is meaningful to your audience.
If your competition all use the same imagery in their ads, be willing to be different – just make sure the imagery is relevant.
This is not a time for business as usual.
As you look forward to 2009 think about how you can stand out from your competition not just in what you you communicate, but how you communicate. And just because no one has done it in your industry, doesn’t mean it shouldn’t be done.
So be conservative about how you run your business, not in how you market it.
When done right, taking marketing risks will actually help you market smarter.