Too often people tell me, ‘We’re too busy to create a Strategic Marketing Plan’ quickly followed by, ‘Our marketing doesn’t work’.
This is not a coincidence.
In this short marketing Insights video, I lay out what happens when you don’t have a Strategic Marketing Plan and how you can change the inevitable course of failure and turn your marketing into a success.
What is a Strategic Marketing Plan?
A strategic marketing plan outlines the WHO, WHAT, and HOW of your marketing efforts:
- WHO: Identifying your market and segment.
- WHAT: Defining your product suite.
- HOW: Establishing your competitive market positioning and the marketing strategies you will pursue 1.
Here are the most common issues of not having a clear marketing strategy in place:
1. The Consequences of No Strategic Boundaries
When businesses lack a strategic marketing plan, they have no strategic boundaries. This means ‘anything goes’ when it comes to marketing, rather than being able to say, ‘”We need to do THIS because this is what our audience likes.”
2. Marketing Tactic Hopping
One of the most common issues businesses without a strategic marketing plan face is marketing tactic hopping. It goes hand in hand with having no strategic boundaries to your marketing activities. You’re constantly switching between different marketing tactics without a clear direction, leading to poor results.
3. Wasted Budget and Time
Without a strategic marketing plan, businesses often find themselves questioning their marketing decisions.
Is this the right thing to do? Is it worth the money? Why did we do that?
These uncertainties lead to wasted budget and time. When you know WHO, WHAT, and HOW, it’s easier to make the right marketing decisions – and avoid the wrong ones.
4. Ineffective Marketing
A lack of a strategic marketing plan leads to ineffective marketing efforts. Businesses may find themselves off target, using a scatter gun approach, and having unclear messaging. This results in the perception that “marketing doesn’t work”.
The Solution: Set a Strategic Marketing Plan
To avoid these pitfalls, it’s essential to set a strategic marketing plan.
A well-defined plan helps businesses focus their efforts, target the right audience, and create effective marketing campaigns that deliver results.
By having a strategic marketing plan, businesses can ensure their marketing efforts are aligned with their goals and objectives, leading to successful outcomes.
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