Page 28 - GS230601
P. 28

Education
                                                     ChapterTitle
                              StreetSmarts                                                SM



















                  What are marketing tactics? – Part 1




        By Nick Cucci                                                specific and detailed strategic moves. They are a part
        Fluid Pay LLC                                                of the marketing strategy.

                    astering marketing for your business is a    Both marketing strategies and marketing tactics are need-
                    process that can involve many different      ed if you want to have a successful marketing push in
                    ideas, tools and people. A lot goes into mak-  any industry. A marketing strategy is just information if
        M ing a great marketing plan—strategy, tactics           there are not any marketing tactics to make it all come
        and  goals,  too.  If you want  to  make  the  most of  your   to life. While it might seem like marketing tactics are the
        marketing efforts, you will need to use the right market-  important part of a strategy, the fact is that marketing
        ing tactics. In this two-part series, I am going to discuss   tactics alone are not inherently useful. Marketing strate-
        marketing tactics and the most common ones you can use   gies guide and select marketing tactics to achieve specific
        to put your brand on the map.                            goals. Without a strategy behind them, marketing tactics
                                                                 are less likely to be effective.
        Marketing strategies versus marketing tactics
                                                                 You need both marketing strategies and marketing tactics
        In marketing, it is no secret that a variety of terms and   for successful marketing.
        buzzwords are routinely thrown around. Two of the most
        common terms are "marketing strategy" and "marketing     Choosing your marketing tactics
        tactics." You will often see these terms used interchange-
        ably, but they are not the same. Following is a definition of   There are a lot of popular marketing tactics available, and
        each term and the benefits that they bring.              it can be tempting to choose your marketing tactics based
           • Marketing strategy: A marketing strategy is a full-  on hype or trends. In reality, this is not the best approach
                                                                 when choosing appropriate tactics. Organized market-
             scale plan that is made to support marketing efforts   ers are found to be a whopping 674 percent more likely
             for a brand or company. Strategies cover everything   to report success from their efforts, so organization is key
             from major goals to the individuals you are trying   (see https://bit.ly/45xYlI8). Your marketing tactics should be
             to reach. Think of them as a road map for all future   chosen with purpose based on the information laid out in
             marketing efforts. In today’s world, 63 percent of   your marketing strategy.
             businesses have marketing strategies in place (see
             https://bit.ly/3OFUToM).                            To choose the best tactics for your specific strategy, ask
             In  most  cases,  a  brand  will  have  an  overarching   yourself:
             marketing strategy. However, it is also possible for   • What is your goal?
             companies to have other smaller strategies at work
             within a larger marketing strategy. At their core,     • Who will you reach?
             marketing strategies are made to help brands engage   Your goal for marketing efforts should play a substantial
             customers and sell more products.                   role in the marketing tactics that you choose. You want to
           • Marketing tactic: Marketing tactics can sound simi-  select marketing tactics that support the goals you have
             lar to marketing strategies, but they actually exist   in place, not just the ones that sound interesting or en-
             within marketing strategies themselves. A market-   gaging. Every marketing tactic should be chosen with a
             ing tactic is one of the  actual  detailed actions that   purpose. If you are working with multiple goals, you may
             will be used to support the marketing strategy.     need multiple marketing tactics to match. Common goals
             All marketing strategies are dependent upon mar-    include increasing brand awareness, enhancing connec-
                                                                 tions with customers, regaining former customers, and
             keting tactics to bring them to life. While a market-  supporting a product launch
             ing strategy is overarching, marketing tactics are
        28
        28
   23   24   25   26   27   28   29   30   31   32   33