When it comes to advertising your business, you may be tempted to go with a small, short-term marketing campaign. Short-term advertising, also referred to as transactional marketing, generally produces results very quickly. The tactics involved, mainly a strong call to action with added incentives, are designed to give a temporary boost to your business in terms of quick sales and revenue. The cost is higher and conversion is fast, but the overall ROI is lower.
If you are looking for long-term results, however, and want to build awareness of your brand, you need to focus on a strategy that can deliver over the long haul. Long-term marketing focuses on building relationships with your target audience for the benefit of future growth. It is called relationship marketing because it results in client action, such as engagement, impressions, and repeat sales based on brand trust.
Developing an effective marketing campaign takes time. Short-term advertising may provide more immediate results, but for consistent momentum, you need more than that. To meet your marketing goals and get long-term results, you want to spend your money wisely over the long-term.
Here are three reasons why marketing is not a short-term solution.
1. In a short-term campaign, there is no time to create a strong brand identity.
An advertising campaign is like a train - it takes time to ramp up to gain sufficient momentum to propel. Building your brand identity is the same. If you only advertise in short bursts, consumers will never get to know the extent of your commitment. A strong brand is necessary to ensure continued growth, and it can't be done overnight.
Statistics show that recognizable brands enjoy higher sales, with 59% of consumers reporting that they prefer to shop with brands they trust. If you advertise in short-term periods rather than continuously, you aren't giving potential customers the time to get to know your brand. You are also missing out on the opportunity to build a strong and lasting identity.
2. Short-term advertising doesn't translate into long-term results.
The short-term results of an advertising campaign are sales. Many advertisers think that they can continue to get those same results over the long term when they are only committing in the short run. This is never the case. Brand awareness is crucial to the success of any business, and that can only be achieved with patience. Continuous results require advertising continuously. If you aren't reminding the audience that you exist, they may forget about you.
Long-term results have everything to do with building a brand that consumers know they can trust. Brand awareness equals an increase in customers and sales. One example of successful branding is Airbnb. The company has established a strong brand identity amongst a global community of people who want to live like locals wherever they travel. It is one of the first to come to mind for vacationers who prefer to feel more at home when they are out of town.
Making your brand "top-of-mind" for consumers is a priority for your success. Your media partner can help you to achieve this with your long-term marketing campaign.
3. When you invest in a short-term marketing campaign, you miss opportunities to connect with potential customers.
Building brand awareness involves creating connections and strengthening those that already exist. When you have strong ties with your audience, it benefits your business. However, it takes time to make those connections. On average, it takes five to seven encounters with your brand before someone will remember it. If you only invest in a short-term strategy, there is no way you will make that many impressions on a significant number of people.
In a long-term marketing campaign, your plan is given enough time to truly be successful because, ultimately, you are advertising to more people more often over a more extended period. This offers multiple opportunities to connect with current and potential customers and become a part of their every day lives.
Your Marketing Plan Should Be Long-Term
Long-term marketing meets your customers where they are because, as part of your plan, your target audience has been accurately identified. You know how they like to get their content and when, and you are willing to share with them again and again. Your audience knows what to expect from you, and they trust you. Just like a personal relationship, this one needs tending. Long-term marketing is the way to do that.
Consistent advertising is the key to building your brand's identity. Not everyone will need your product or service at any given moment, but when they do, you want to be the first business in mind. Talk to your media partner about the possibilities.