What is the difference between Marketing Strategy and Advertising Tactics?
Many small to medium size businesses struggle with how to find the right advertising tactics to meet their marketing strategies or objectives. Let’s define what each of these terms mean and then you can determine the road map to implement your marketing strategy and the advertising tactics to achieve your goals.
A marketing strategy is just that, a strategy or “game plan” for reaching your specific goal. The strategy is a broad goal, such as gaining new customers or to build name or brand recognition in your community. Regardless of your marketing strategy, using the correct advertising tactics to execute it is imperative.
A tactic is the vehicle or advertising platform that will be used to effectively and efficiently reach your customers. Here are a few examples of tactics or advertising platforms.
- Digital Display Ads
The most effective way to accomplish your strategic objective is to have a clear corresponding set of tactics and to know your ideal customer. Knowing the following items will be your first step in executing your advertising tactic.
- Customer’s age
- Annual income
- Interests and hobbies
- Where do they get their information (Online, TV, Radio, Social Media, etc.)
Once you know who your target audience is then you can choose the correct tactics and advertising platform to reach them.
Let’s say that you sell high end luxury items but your advertising tactics have been focusing on individuals who like low price bargain shopping. If you are targeting individuals that buy based on low prices then this would be ideal for your business. However, you sell high end luxury items so you may want to consider changing your tactic to targeting individuals who enjoy luxury vacations, high end vehicles and expensive jewelry.
It’s important to have a strategic marketing objective in place for your business each year. While the goals may remain the same the strategy and advertising tactics can change.
Do you need help identifying who your ideal customers are? Give me a call today! I am here to help you coordinate all of your dealer marketing needs.