What is a marketing strategy?
Your marketing strategy is shaped by your business strategy and is your blueprint to achieving your business goals. It is your purpose - your why, values, vision and mission. It looks into what makes you different and gives you a marketing 360 of your current situation and your position in the market. It identifies who you should be targeting and what budget you have to do so. Once you have your strategy, only then will you be able to develop an effective marketing plan.
Why do I need a marketing strategy?
If you don’t have a clear marketing strategy that outlines where you want to be then it is very difficult to define what you need to do to get there. A marketing strategy makes all your marketing decisions easier, if something doesn’t fit in with your strategy then don’t do it.
If your business has a lack of strategy when it comes to marketing, has inauthentic marketing campaigns and is struggling to optimise it’s marketing spend, then you would benefit from spending some time working on your marketing strategy.