Script below:

For this episode, we will answer the following question:
What is the difference between strategy and tactic and which one comes first?

The words strategy and tactic are often used interchangeably in many industries, including the financial service world, but they are not the same.

If you ask people to think about the difference, many will say that strategy is the big picture, whereas tactics are the details. This holds some truth depending on the context in which you are trying to define the two.

However, to be successful with Inbound Marketing or any of your marketing initiatives, it’s important to understand the differences.

So let’s start by explaining what is Strategy

Strategy is your playing field that determines the preparation and efforts required to reach a goal. It will help you rationalize  all of your Inbound Marketing activities.

In other words, it is identifying who you are offering your financial services to, how they shop for solutions and how you can help along the way.

Now how about Tactics?

Tactics are more so the activities to reach a goal that is backed by your strategy. This is where Inbound Marketing campaigns come into play such as email, blogging and social media.

I believe at this point, it’s clear that to be successful with Inbound Marketing or any marketing initiatives for that matter, you need to first work on the strategy.

Strategy Before Tactics for Financial Service Firms

You can’t start publishing blog articles, sending email newsletters or post content on social media without first understanding who you are going after and why they should care. Inbound Marketing Strategy requires you to develop your Buyer Persona, understand their Buyer’s Journey, create your compelling story as to why you do what you do and have your value propositions ready.

Without the strategy in place, your tactics will not reap the best fruits for your financial service firm. In fact, you may not have any at all. Work on your strategy first. It will save you from wasting resources and help you know what to focus on.

That is all for this episode, if you have any questions that you would like us to answer related to marketing in the financial service world, please email us at podcast@bethinkmarketing.com