In sports, you have gameplays. These gameplays aren’t random. They come directly from the coach’s playbook.
In business, it’s no different. Your marketing strategy comes from the company’s playbook. And the playbook tells you what you need to do to be successful.
If your company doesn’t have a marketing strategy, continue reading.
Before you dive in, you should familiarize yourself with what is marketing.
Marketing Strategy Definition
A marketing strategy is a plan that establishes the direction of your marketing activities. It informs your marketing objectives and plans.
Ultimately, the marketing plan helps you achieve outcomes. For example, you can create a plan to help increase sales revenue, share market growth, drive customer satisfaction, increase brand awareness, and more.
Why is it important to have a Marketing Strategy?
Let’s go back to the sports analogy. Can you imagine what it would be like if the coach sends their players out on the field, but they don’t provide the team with direction?
It would be chaos. A marketing strategy serves as your guide. It provides you with a plan. Also, it informs you how you can achieve your marketing objectives and stay true to your company vision.
What’s in a Marketing Strategy?
Marketing strategies begin with marketing objectives. Marketing objectives state what you want to accomplish as a marketing team. Each marketing objective should break into smaller parts. What’s the goal? What does success look like? How will you measure outcomes?
Above all, the marketing strategy should include achievable, measurable results. For example, if want to increase client communication, then an achievable result would be a 98% response time to tickets.
When you create your marketing strategy, align your marketing efforts to a marketing funnel.
What’s the difference between a Marketing Strategy and a Marketing Plan
You may have heard of a marketing strategy and a marketing plan interchangeably. However, there are key differences. In short, each should support your goals. And both matter for successful outcomes.
Marketing Strategy
- Your Marketing Strategy is the big picture.
- It’s the long-term action plan.
- It supports your company’s mission.
- It focuses on the ultimate outcome you aim to achieve.
Marketing Plan
- Your Marketing Plan is the series of pixels that help define the big picture.
- It’s the short-term tactics to help achieve your goals.
- The marketing strategy informs the marketing plan.
- It focuses on campaigns and KPIs to help achieve the outcome.
Need help with your Marketing Strategy?
Ready to drive results for your brand? Learn more about how you can create a marketing strategy for your business, get in touch with Woods Creative today.