Australian SMEs often grapple with a critical question: how much should we invest in shiny new marketing approaches versus sticking with what we know works? It’s a valid concern. The marketing landscape is constantly evolving, but abandoning proven tactics entirely is a risky move. We believe the most effective strategy lies in a deliberate balance – a ‘both/and’ approach, rather than an ‘either/or’.

The temptation to chase the latest trend – whether it’s a new social media platform or a cutting-edge advertising technology – is understandable. However, core marketing principles remain remarkably consistent. Things like understanding your target audience, crafting compelling messaging, and building strong customer relationships are fundamental, regardless of the channel. We see too many businesses get distracted by novelty and lose sight of these essentials.

Here are a few insights to help you navigate this balance:

• Prioritise data-driven experimentation: Don’t just jump on the bandwagon. Allocate a small percentage of your marketing budget to testing new channels or tactics. Rigorously measure the results against your existing, successful campaigns. This allows you to learn what works for *your* business, specifically.
• Layer innovation onto a solid foundation: Think of your proven tactics as the trunk of a tree. They provide stability and support. Innovation is the new growth – branches and leaves – that extends your reach. Don’t try to build a tree from leaves alone.
• Focus on incremental improvements: Innovation doesn’t always mean radical change. Often, the biggest gains come from optimising existing campaigns. A/B testing ad copy, refining your email segmentation, or improving your website conversion rate can deliver significant returns with relatively low risk.
• Understand your customer journey: New tactics should enhance, not disrupt, the customer experience. Consider how a new channel fits into the overall path a customer takes from awareness to purchase and beyond.

Ultimately, the right balance will depend on your industry, your target audience, and your business goals. However, a cautious yet curious approach is generally best. Don’t be afraid to experiment, but always anchor your decisions in data and a deep understanding of what’s already working. To get started, we recommend conducting a thorough audit of your current marketing activities, identifying areas for potential optimisation, and then allocating a small budget for testing one or two new approaches. This will give you valuable insights to inform your strategy moving forward.