10 Thoughts on Creating a Marketing Strategy in a Highly Regulated Industry
Just because your brand treads within the touchy territory of a highly regulated industry, it does not mean creative, engaging marketing is beyond your reach. And while getting started can be tough, the end result is worth the time spent researching and developing a compliant, effective strategy.
Here are ten thoughts on creating a marketing strategy in a highly regulated industry:
Study the regulations
It is your responsibility as a marketer to know what you can and cannot utilize in your marketing strategy based on the regulations that are relevant to your industry. Do the research—if you have a team behind you, divide and conquer and then create a comprehensive list of the regulations to watch. This step is an absolute necessity in industries bogged down by regulation—nobody wants to deal with the repercussions of ignoring them.
Conduct internal compliance reviews of all content
Set up a system for reviewing any and all marketing material before it goes out the door. Is it compliant with whatever regulators oversee your industry? This is where the first thought comes in handy—with strong knowledge of the regulations, you’ll be able to catch any issues before they go public. Pull a Santa: create a list and check it twice.
Listen to social channels and raise your voice
Regulations are constantly being reviewed and updated with new requirements, terminology, and coverages. To protect your brand, proactively listen for changes by using platforms that enhance your awareness of breaking news and reactions from your consumers. When things do break, add your voice to the conversation and position your brand at the outset of new regulation as a brand which knows its stuff.
Build a website with a smart, safe, appealing design
One of the first touch-points a brand can offer to potential customers is their website. If you’re working in a highly regulated industry, be sure to make your website work hard for you by keeping it full of useful information on products, regulations, and other facts that might aid consumers in feeling comfortable. A sleek, easy-to-follow design always helps too.
Push your best products
If you have a specific product that outshines the rest or trends well, push it. Many brands are often identified by a single product that stands out among the rest of their line, and brands in highly regulated industries can use this popularity to their advantage. Leverage that to expand your audience and bring them to the rest of your catalogue.
Focus on the lifestyle
If you haven’t seen the pilot of AMC’s Mad Men, you’d do well as a marketer to check out how Jon Hamm’s character, Don Draper, handles a proposal for a cigarette company entering into an era of health-based regulations around tobacco advertising. His big idea that shocks the room? “It’s toasted,” based on the company’s unique practice of toasting their tobacco during the manufacturing process. It’s simple, clean, and gives a clear sense of the sort of values their consumers hold dear. In a highly regulated industry, your marketing plan should include some sort of lifestyle that surrounds the products your brand offers.
Thought leadership pieces with strong SEO breed success
Providing information that educates your customers with thought leadership blog pieces is a great way to get your brand on the front pages of search engines (as long as you keep SEO in mind when writing them). These educational pieces aren’t meant to sell your products, but they can certainly pull in new customers who will likely form greater respect for your brand’s effort to be a thought leader.
Provide quality content in exchange for an email list
Develop content that will be highly appealing to consumers, such as white papers that explain some of the more complex information around your industry. To allow downloads, ask for an email to then build out an email list. With an email list, you can start directly communicating with clients or potential clients, sending them promotions, coupons, and more.
Show your knowledge visually
Infographics, videos, and other visual elements pop out to consumers’ eyes, and utilizing them to show your brand’s knowledge on whatever topic or industry you focus on is a great way to build your reputation. Make sure to pull cited, factual information and establish your brand as a champion of the truth.
Call on your influencers
Social media influencers are powerhouses when it comes to driving their huge bases of followers to try new products or support certain brands. While you may be prohibited from advertising products in certain ways, social media influencers are good outlets to spread awareness of your brand and your products.
Knowing the ins and outs of marketing highly regulated products can be tricky. The experts at Kraus Marketing are here to help you navigate the red tape and develop safe, effective marketing solutions. Contact us today to learn more.