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The Importance of Marketing Strategy

You wouldn’t jump out of a plane without a plan and the correct equipment (or so we hope). So why would you jump into marketing activity without a clear idea of what you want to achieve and how you’re best positioned to achieve it? 

A marketing strategy plan will define your marketing goals and business objectives and set out a structured and considered approach in how you most efficiently and effectively use resource and budget to achieve them.  Seems simple? The output isa clear and easy to navigate strategy…it’s the upfront work to get you there than can be intense and challenging at times.  But the considered thinking and thought-provoking questions result in key insights and direction to help create the foundations of your strategy.  

So why is it vital for every business to have a marketing strategy? 

 

1.     A marketing strategy clearly leads you to where you want to be. 
…and what activity is best suited to get you there.  What are you wanting to achieve by undertaking marketing activity? A 10% increase in leads? A 20% increase in lead conversion? A 200% growth of Facebook followers? If so, why? And will that feed into your bigger marketing goal and business objective? If so, let’s start strategising! 

 

2.     A marketing strategy keeps you focused

By being clear on your business objectives, you can be clear on the activities you will dedicate time and budget to.  There’s so many fantastic possibilities in the world of marketing – and having clear marketing goals will allow you to clearly identify the opportunities to explore and the ones to park for the future.  It also helps to unite and motivate your team to get involved and achieve their part as they can see the bigger picture. Then when it’s achieved, it’s a great reason for a team celebration!

 

3.     A marketing strategy clearly defines who you’re talking to.
Spoiler alert - this isn’t everyone, all of the time! A key marketing rule: Speaking to everyone is as good as speaking to no one. A marketing strategy explores your target audience and heavily defines it.  From demographics like gender, income and occupation through to mindset and interests, it pays to really understand who you’re talking to.  Then you can consider how you talk to them and where and when is best to reach them.  Your message is much more likely to resonate if you shift your thinking to what your audience wants to hear rather than what you want to say.  And it’s ok if you have multiple audiences too, just segment how and when you talk to them, recognising their motivators for purchase could be very different.

 

To help you develop your own marketing strategy we have developed this Marketing Strategy Template pdf which you can download for free.

 

Still haven’t put a strategy in place for 2019? That’s ok. We live and breathe strategy and love nothing more than working with a business to put a plan in place.  Chat to us today on (03) 5975 3742 or at hello@piermarketing.com.au about how we can help get your business on its way to achieving its goals. Want to know what to expect from the process? We’ve got you covered on that front too … Read our blog about our process to developing your marketing strategy here.