The Slingshot Strategy: What is It and How Does it Help Your Brand?
by Chico Orange
Are you investing too much time, energy, and resources in marketing strategies that are not working? You might need to take a step back and revisit your digital marketing plans. Read this blog to learn all about the slingshot strategy and how it can help propel your business forward.
Let’s stop and think for a moment about how a slingshot works. You hold onto the base’s handle with one hand and carry an object with the other. Gently, you place the object on the band, pull it back to launch, and release. The object then goes flying forward at a rapid pace, and depending on how far you pulled the band back, it can reach a far distance.
Slingshots and their functionality have been used for countless metaphors, especially those concerning motivation and progress. And we’re sure you’ve heard of one before. This same idea applies to your business! Marketers refer to this as the slingshot strategy.
What is the Slingshot Strategy?
Just like how a slingshot needs to be pulled back to launch forward, your business needs to draw back a bit to propel forward faster, stronger, and further. Think of it as giving your business an extra push in the right direction.
The slingshot strategy comes into play when a brand hits a wall, i.e. when your marketing is not resulting in your sales goals. Simply, it involves hitting the pause button, taking a step back, and revisiting your marketing strategy. The slingshot strategy requires you to go back and plan, think, and reconsider to build up the inertia and momentum you need to move forward.
How to Implement the Slingshot Strategy
The slingshot strategy is a 90-day sprint that takes you and your digital marketing team through a series of steps that will help you realign your sales goals and create targeted marketing strategies to achieve them. The three main parts of the process include planning, measuring, and tracking.
You might have already implemented some digital marketing campaigns for your business. But a key indicator that you need the slingshot strategy is when none of them seem to be helping you reach your sales goals. If this is the case, you need to pull back and start from the beginning — the planning phase.
In this step, bring your digital marketing team together to create a concrete marketing plan that outlines the following:
- Your objectives
- A clear definition of the project
- Project milestones
- Success metrics
A solid plan guides you through the process and allows you to better manage your marketing strategies. It helps your team stay on top of their tasks and hold each other accountable.
You need to have the means to measure the success of your marketing strategies so that you are aware of which ones are working, underperforming, or not performing at all. Ideally, you should track your key business drivers weekly or monthly to get a good indication of what strategies can push your business forward.
Digital marketing in the Philippines is not a one-time approach. It’s a long process that can take time and patience. Throughout the project, make it a point to meet up with your team periodically and discuss progress reports, updates, analytics, and adjustments that need to be made.
Have weekly huddles and continue working on your slingshot strategy! Remember, you can’t boost your sales and drive your business to success overnight.
Slingshot Your Business Forward
The slingshot strategy is not your conventional forward-looking framework. Instead, it invites you to take a step back and get the momentum you need to propel forward, boost your sales, and position yourself for success!
The further you pull, the more inertia you have to launch faster, quicker, stronger, and further!
December 13, 2021
December 13, 2021
December 13, 2021