As a business leader, one of your many critical tasks is to create a clear vision and roadmap for your business. However, all too often, the best of intentions fall short when it comes to understanding the function of a strategic marketing plan.
Whilst working with businesses of different sizes, I have seen a lot of people misinterpret the concept of marketing; steering blindly in the pursuit of quick transactions backed by rash decisions. This is a common approach that may seem to work around the block, but is doomed to crash down the road.
In reality, some marketing decisions can be made on “the go” but others need to be better thought through. Are you steering your marketing or is it steering you?
What is a Marketing Strategy?
A business strategy is set out to create a vision and a path for your business. A marketing strategy on the other hand, is more specified but equally important. It’s the key roadmap which helps guide marketing and sales to successfully drive new leads and customers for your business.
Your marketing strategy should be your business’ overall plan for reaching prospective consumers/ businesses and converting them into buying customers. In short terms, it should define your marketplace, value proposition, key brand messaging, data on target customer demographics and other high-level elements that facilitate your marketing decisions.
Why is a Marketing Strategy Important?
A marketing strategy is important for a number of reasons. In my experience, these include:
It ensures you’re targeting the right people, at the right time, with the right content. With a well-planned strategy, you will ensure that everyone is working towards the same goals.
Better measures for success
When forming your marketing strategy, you will define your KPI’s. As a result, you’ll be able to measure success and learn to identify areas that can be improved in the future.
In today’s ever changing environment, it’s vital for businesses to be agile. A thought through marketing strategy will allow your business to predict and meet the shifting demands of a changing market. By reviewing and analysing customers’ expectations and needs, you can better spot new market trends and tailor your strategy as needed.
Improved decision making
A strategy is the pilot for decision making in your marketing. A deliberate strategy will help you understand where budgets and resources are best spent. Such judgments are critical in ensuring a sustainable future for your business.
Don’t Steer Blindly
What’s the first thing you do to plan a holiday? You pick a destination. Then you decide when to go and what to do. The same goes for marketing. If you want great marketing just like you want a great holiday, you’re better off planning for it.
Do you need help steering your marketing in the right direction? Planet Marketing is an ethical marketing agency with a desire and dedication to drive brands that are offering innovative environmental solutions amidst our climate crisis. We have a proven track record of developing, planning, and implementing marketing strategies. Get in touch today to learn how we can help you.