To make the most of your marketing mix (the combination of promotions, products, distribution channels, and prices), it’s important to find the right balance between each opportunity. Combining short and long-term strategies will help you create an even more profitable marketing mix.

Short-term marketing strategies create immediate return and revenue. The results of these strategies tend to be direct and quantifiable. The main disadvantage of short-term marketing is that the effect is temporary. Long-term strategies on the other hand help build brand awareness and contribute to a gradual boost in revenue. Our team at Exact Staff has compiled some short and long-term strategy examples to help your organization increase profitability.

Short-term Marketing Strategies
Reduced price sales! Everyone loves a good sale. Sales encourage customers to act quickly, in fear of missing out on a good deal. They also push customers who are “meaning to buy” something an incentive to do so.

Group discounts and offers. This technique is a good way to get your product and services in front of new customers, or give “exclusive” groups a permanent discount.

Long-term Marketing Strategies
Branding activities. These are activities that build familiarity and trust amongst your customers. This will help create customer loyalty.

Industry relationships. Building relationships with companies involved in your industry puts you in a good position to know about new opportunities that may be beneficial for your organization.

Charitable giving. Donating money, services, and time almost always builds a positive image within the community. This strategy increases a company’s trustworthiness, and gives customers the sense of confidence in your brand.

Research and development. Conduct research and gather feedback from current customers and prospects and tailor your products and services to meet their needs. This strategy will help ensure future growth.

To increase your organization’s profitability, find the right blend of these strategies.  For example, pay-per-click (PPC) advertising is a good way to advertise and highlight promotions. PPC also builds long-term brand awareness by exposing potential customers to your website. Finding the right combination of short and long-term strategies will help achieve immediate sales goals (short term) while building a positive reputation in the community (long term). To find the best mix of strategies for your organization, contact us today!

Want to learn how a partnership with Exact Staff can make you more profitable? Contact us today! Experts in providing temporary and permanent staff across the country, we are happy to discuss any staffing needs you may have.