Retail Strategy
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MARKETING STRATEGY
A four-step guide for marketers operating in regulated industries
By our News Team | 2021
Tough laws and long approval processes shouldn’t be a barrier to effective marketing strategies in highly regulated environments.
Marketing professionals have always been creative problem solvers – and these skills need to be ramped up when operating in regulated industries such as pharmaceuticals, healthcare, finance and insurance, says Desirée Gullan, Co-founder and Executive Creative Director of marketing agency G&G Digital.
Stringent laws and regulations, not to mention lengthy approval processes, can seem like too many obstacles in the way of highly effective creative communication campaigns, notes Gullan.
But she emphasises that marketing in regulated industries shouldn’t feel stifled by rules and processes. It’s an opportunity to flex your creative problem-solving skills in a smart and disciplined manner.
Image by Gino Crescoli from Pixabay
Here are her four steps to reaching audiences in regulated industries:
- Plan ahead
Due to long approval processes and other due diligence matters, ad hoc campaigns may not be possible. Smart, long-term planning that doesn’t feel forced, dated or irrelevant can get excellent results and help you save money by avoiding costly mistakes and oversights.
- Pull in the same direction
Your team needs to be aware of what’s at risk with the smallest error or oversight. It’s also important to work in the same direction. Invest in training and take the time to educate and oversee the process.
This will prevent issues all the way through the process, from planning to campaign execution. Remember, the weakest link can cause the most damage.
- Build trust and authority
In regulated industries you don’t have the luxury of making big claims, even if you have the data to back it up. Focus on building trust and authority, which allows you to reach your audience organically and push them further down the sales funnel.
Key opinion leaders can assist in this process by bolstering carefully curated ideas. Use thought leaders in your industry to build trust.
- Tell authentic stories
Innovative and relevant storytelling can set your brand apart from others, as well as give you the opportunity to really explode in reach, relevancy and engagement. Consumers tend to veer toward brands that have a story they can resonate with – especially in highly regulated industries.
Craft every detail, from the way you tell a story to the amount of planning you put in. It all comes together in the long term. With the right approach, discipline and experience, you can find success despite the circumstances.
Now’s the time to reshape your strategy and pursue opportunities for growth, Gullan says.
Source: G&G Digital marketing agency
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