One of the common factors behind all successful businesses, is that they use a strategic approach to their marketing rather than a tactical approach. So, what’s the difference?
In short, businesses that take a strategic approach to their marketing, think ahead and plan ahead. They ‘compound’ many marketing activities together to leverage the best possible sales results.
Businesses that take a tactical approach, tend not to plan their marketing in advance. As a result, each individual marketing activity is done in isolation and therefore, lacks momentum. Tactical marketing decisions are usually made either on a whim or (most commonly), in reaction to a sales problem.
For example, a business owner will wait until sales are down – and then decide to ‘do something’ about it. They then do one single thing in isolation, (often a mailing, advertisement or an email blast) and typically get a very poor response. Often, I see a business with a single marketing letter or advertisement, which they use whenever ‘business is bad’ – rather than using a series of letters or advertisements, which build upon each other strategically, to create a compound leverage effect!
What is compound leverage & why do you need it?
Compound leverage is when you do a series of marketing activities, which compound to create a result that’s greater than the sum of the individual parts.
If you have a marketing email and you send that same marketing email, to the same list of people 6 times – you will see your results drop after each mailing.
However, if you decide to do a series of 6 different marketing emails; with each email building upon the previous one, you will see the power of the 6th email massively leveraged, because of the foundation created by the initial email and all the curiosity / desire created by the 2nd-5th emails.
By switching from a tactical approach to a strategic approach, you can massively improve the success of your marketing without having to invest a penny extra. In fact, many people see far better results AND are able to cut their marketing budget at the same time!
The switch from a tactical approach to a strategic one, requires a shift from having a short-term focus (tactical) to having a medium or long term focus (strategic.) Every successful business I have worked with or studied, thinks and plans ahead with a long term focus.
If you want your business to not only survive but thrive during 2009, don’t wait until 1st January to do something – make a plan today! Put a strategy together, which consists of a series of marketing activities that compound to provide you with the kind of forward momentum you and your business will need in 2009!