What is a Marketing Strategy?
Below this post, you will find a 30-second video that asks the question, What is a marketing strategy?
An important question to ask in today’s business. Many people know how to develop a newsletter, what are trade shows and get a sales team together but forget to spend time in developing a robust market analysis, competitive report and company brand vision that are the foundations to a solid plan.
Marketing Strategy Makes Decisions
A Marketing Strategy answers questions and forces you, to make decisions for your company. Yes, too many design their success based on their products. Forcing a company to become narrow minded and looking only at maximum output. More companies are basing their company’s progress on a simple understanding of marketing tactics. Taking software applications like email technologies and because of the ease in its plug and play, believe it is a strategy.
Too Many Me-Too Companies
The result is it creates too many “me-too” companies. Or new technology start-ups with substantial funding but little market research. Without a marketing strategy then – everyone is doing the same thing – like you.
Marketing Strategy Creates Competitive Advantage
Bu asking questions, like “How can we serve our customers better?” will give you the mindset of a brand leader. Instead of existing to make your numbers, your companies exist to serve a greater purpose.
Don’t get me wrong. Of course, a company needs to be profitable. A marketing strategy will push you to move away from a cost-centre mentality to a customer-centred force your clients will love and competition will have a hard time keeping pace.