SBR 37: HOW TO KNOW IF YOU REALLY HAVE A MARKETING STRATEGY?
Have you really got a marketing strategy, or just a set of tactics?
Everyone says they have one, but have they really? In our experience many just have a set of tactics and are left wondering why there’s no consistency in their marketing performance. Your strategy needs to set the guardrails for how you’re going to achieve your business objectives. And that starts with taking time to understand the problem.
A wise man once told me, “Measure twice, cut once.” This is as applicable to a brand’s marketing strategy as it is to building a kitchen cupboard.
But how do you know if you’ve got a good strategy? Here’s a checklist to help.
Have you carried out robust market research and analysis including a market segmentation? You should have identified and prioritised your target within the total market based on audience behaviour and needs, and where you feel you have a right to win.
Do you *really* understand your audience? That’s not a trite description like “millennials” – that’s useless (dear God, I hope you’re not using something like that). Do you have an insight that can be used to bring your target to life? Something like “our audience is the sort of person who buys their pet a present.”
Do you know how your product differs (or not) from your competitors?
Do you know what motivates your target audience to buy products in your category?
Do you know how you are perceived by your target audience? And how you want to be perceived?
Do you know which of those you can and will talk about and when?
Do you know what your brand tone of voice and personality is?
Do you have an organising idea that all your marketing revolves around?
Do you have a channel agnostic communications plan? If you’ve got something like “digital first” that’s not agnostic. Just sayin.
Have you clearly articulated your objectives and do you know how you are going to measure success?
Have you summarised all your thinking onto one page. Yes. One. Page.
If you’ve said no to any of these you’ve at least got some gaps in your thinking. If you’ve said no to a few of these, then your strategy is built on assumptions. If you need some inspiration, you can find some templates on our downloads page. And for more bespoke advice, get in touch.