A plan without a strategy is just a wish list!
A lot of companies find the prospect of putting together a marketing strategy for their business quite daunting, but it needn’t be a source of stress. When it comes to creating a strategy document, you must first answer three simple questions:
Where are you now?
Where do you want to go?
How are you going to get there?
It’s important to remember that your marketing strategy is defined by your overall business goals, while your marketing plan outlines a set of tactical actions you will take to achieve it.
Remember….
Your marketing strategy should set out how you are going to optimise your market opportunities, mitigate the threats and challenge your competitors. It should also set out your goals and the means by which you will measure your success.
A common mistake is to blindly follow a plan put in place for market and economic conditions that simply no longer exist, so it’s a good idea to revisit your business and marketing strategy on a regular basis. Remember to make adjustments to your marketing plan and if necessary to your budget.
