In marketing, especially as a business owner, it's common to invest in projects by seeing what sticks. However, it's essential to know that just because you can do something doesn't always mean you should. It's often inefficient since it puts the cart before the horse. On the other hand, Federated Media makes efficient plans by building an effective strategy. Extensive plans and great strategies are crucial to finding success and leaving the competition behind.
Here's everything you need to know about putting a long-term strategy before tactics and how Federated Media builds your business with that critical advice in mind.
Long-Term Strategies Make Long-Term Success
Long-term strategies refer to a company's comprehensive plan. These plans include several short-term goals and tactics that allow your team to reach the company's long-term goal down the road. They're vital to business success because marketers who document long-term strategies are 313% more successful than those who do not (which is why 61% of marketers have one!).
Typically, this goal includes increasing brand awareness, boosting visibility, and establishing more authority in the industry. Some long-term marketing strategies that often help achieve these goals include:
- Search Engine Optimization (SEO)
- Social Media
- Content Marketing
Essentially, they may not make a substantial difference at first, but they will over time (and continue to from that point on!).
Another advantage is that coordinating a plan and looking ahead gives you a path to follow and allows you to budget for and work towards your goal by having your tasks laid out for you. That is the standpoint Federated Media comes from when developing plans. It makes your time more efficient because you always know what to be working on next. When combined with tracking metrics, you will have evidence of what works and doesn't, helping you flexibly adjust your plans based on what works best.
Tactics Stemming from Strategy Have More Purpose
Developing a strategy first lets you choose the best marketing materials and platforms for your business. You will spend money more efficiently when investing based on the purpose and ROI you can get. Considering that marketers waste approximately one-fourth of their marketing budgets on inefficient channels and tactics, using purposeful tactics can be a game-changer and is why Federated Media uses this method.
Let's say, for example, you want to run a local brand awareness campaign. To boost your local brand awareness over time, you would consider tactics you can take now and over time to increase awareness in your community. That can include:
- A radio partnership
- Hosting events to get more notice in the community
- Local SEO developed through Google My Business and blogging using their accurate address and contact information
- Social Media that engages with followers and interacts with other community pages, which you can run by creating and scheduling posts
- Build an email or text database that allows for permission-based marketing to a select group of engaged consumers
When you have a long-term strategy — in this case, centered around local brand awareness — the tactic stemming from this strategy has more purpose. Why? Because you're not blindly chasing several goals with no real purpose in mind.
Instead, your tactics all have a specific purpose: to build brand awareness in your local community. A radio partnership with the right host in your industry will introduce you to your audience while hosting events, and staying active on social media will allow you to engage more with them. Local SEO tactics will keep you at a higher ranking so they can find you when they're ready!
Find Meaning by Working with Federated Media
Are you ready to find more meaning and add more purpose to your marketing strategies and budgets? Then it's time to partner with Federated Media! That is the process you can expect when partnering with Federated Media:
- They'll start by asking questions to determine your needs better,
- Develop a long-term strategy that suits the overarching goal your company seeks to achieve,
- Then choose the tactics based on what works best for you.
What's more, they stay in close contact with you every step. That way, you understand how close you are to achieving your long-term goals, how each marketing tactic stems from and benefits your long-term strategy, and what the best courses for action next will be to continue your marketing success.
Long-term strategies and the tactics stemming from them lead to more efficient spending. And efficient spending makes better ROI and more success. Contact Federated Media to learn more about the importance of strategy before tactics and how they can successfully build your business with this crucial point in mind.