Support a Vision

Make Sure Your Strategy Has a Long-Term Vision

There is a common perception that only short-term goals matter in these “what have you done for me lately” times.

Of course your CEO will be very focused on short-term results, particularly those that deliver to the bottom line. In fact, most of the goals you discern from your corporation’s public-facing documents are likely to focus on the short term, because they are written with investors as the key target audience.

That’s why your goals discernment must take into account insights the CEO and executive team share internally, perhaps through town-hall style employee meetings or other grassroots communications.

This will give you a more realistic picture of the long-term corporate vision.

This vision will help guide longer-term marketing commitments, including certain elements commonly associated with sports marketing, such as naming rights.

These will almost certainly involve multiyear contracts – sometimes decades-long.

Therefore, it’s critical to consider the long-term benefits they will confer on your corporation, such as generating sustainable growth, or preserving and increasing marketing share.

Here are some valid considerations when evaluating long-term impact of a marketing program:

-       Customer recruitment and retention

-       Cultivating the next-generation of customer

-       Protecting against inroads by competitors

-       Building sustainable relationships with high-value customers

-       Supporting new initiatives such as rebranding

-       Establishing awareness in a new geographic market, such as in the wake of a merger or acquisition

How much of your sports marketing budget is going toward short-term results? How much is building toward a strong market position in the future?

The proportions should reflect the importance of short-term vs. long-term corporate goals.

Balance your marketing portfolio accordingly, then communicate this vision to the executive team.