Are Short-Term or Long-Term Wins Better for Digital Growth?
Today's digital marketplace is fast-paced, so it's no wonder that many businesses are vying for attention and instantaneous results when it comes to business growth wins.
That said, how do you figure out if short-term or long-term goals are better for your digital growth? And how might this kind of thinking affect the kind of marketing strategy that you want your digital growth agency to focus on?
Some businesses fall into the habit of giving complete control to a digital agency in deciding what the high-level goals should be. The problem with this plan is that those benchmarks might not be the goals you want or need them to be. And if communication is left unchecked, it could cause problems further down the line.
Here are some important goal planning aspects to think about before you sit down and have a discussion with an agency during a goal-setting meeting. We speak from experience. The more informed an agency is about your goals, the better we can help set the expectations on how we plan to carry out the right type of marketing strategy.
Goals You Want to Achieve
If you're looking to improve lead generation, ROI, and business growth, then you need to have a good idea of the kinds of goals you'll want to achieve.
Essentially, your goals will need to be SMART goals, but if you don't know how to set-up SMART goals, a digital marketing agency like us can help make the process easier with our SMART goals template. Goals need to be specific, measurable, attainable, realistic, and timely to achieve the best results.
Forecasting Your Industry Prospects
Forecasting the state of your industry in the coming years means you need to make some fundamental assumptions (through data-backed research) on the following aspects:
- How your industry is likely to change in the next five to ten years.
- Whether you need to improve your company to meet industry changes.
- If you need to re-allocate or expand your resources in order to fuel growth.
- How you aim to continue to challenge your competitors.
- How you are looking to grow your company's profits.
Putting these assumptions in writing will help you initially to understand your company's current positioning in the industry, then map out where you want to be and how you're going to get there.
Results at the Snap of a Finger
It's completely natural to think that marketers want to provide instant results when it comes to their marketing strategy. And if you are looking at how you can acquire short-term wins, there are many short-term strategies that can help you drive more traffic to your website, increase engagement levels, and win new business within a set period of time.
Such short-term strategies can include:
- Pay-per-click (PPC) advertising - On average, 64.6% of people click on Google ads when looking to pay for a service or product. Use PPC to devise a set timeframe for paid ad campaigns for your services. What's great about PPC is that you can use your campaign time to understand which keywords and text copy convert the best and use this information to your advantage for the future.
- Limited time content offers - A perceived lack of availability triggers a psychological need in people to want what you have to offer and really boosts the value of what you're sharing.
A competent digital growth agency can help you streamline the best-short term strategies for your business, based on the goals you want to hit.
Planning for Future Growth
If you're thinking of about a lead generating pipeline for the future and beyond, then you need a long-term strategy in place. The beauty here is that the phrase "long-term" doesn't equate to "hard work". By investing in inbound marketing, you can generate more qualified leads without a great deal of elbow-grease.
Long-term winning strategies will most definitely consist of:
- Search engine optimisation (SEO) - With a solid long-term SEO strategy, a digital agency can help build up your company's search engine rankings, online authority and reputation.
- Regular and useful content - Regular blogging is not only great for your website but will also help to draw in new prospects on a regular basis. Companies that publish at least 16 blogs a month receive 3.5x more traffic than when they publish 0-4. A digital agency will ensure that the content you are publishing stays fresh, relevant, and useful.
- Lead nurturing through automation - One of the best inbound marketing strategies for long-term wins is through the use of marketing automation software. Automation can help you to nurture your leads effectively and drive them through the sales funnel, leading to conversion.
So, Which Strategy is Best?
As a digital growth agency, we generally recommend that a professional services company, no matter what sector, need to have both short-term and long-term marketing strategies. With a good balance, you'll come to find that they work together in sync to generate the results you need.
But when it comes to knowing the best combination of strategies, this is where the help of an agency comes in. When you have a good enough idea of what kind of wins you need as a business, it's time for a goal setting discussion to take things to the next level.
Discussion with a Digital Growth Agency
A goal setting meeting is a vital part of putting your marketing strategy together. An agency will take your goals and then will be able to set the benchmarks and expectations of how they will help you achieve those goals through measurable metrics.
Professional services firms often need to consider future growth and a digital agency can help you boost your efforts in order to get there.
By understanding the needs of your business, you can balance your short and long-term strategies by working with a digital growth agency that can provide your business with sustainable growth for the future.