A strategy differs from a plan in that a plan is a collection of “whats” and “to dos.” A strategy is the “why” and the signals along the path that tell us we’re on the road to success. A solid strategy simplifies the actual marketing, making it easier to implement the right plan. Many marketing initiatives will fall short if they are executed in a strategic vacuum. I realize working on marketing strategy is not as dazzling as creating an ad or designing of a website, but skipping this step is a big mistake.
Times have changed. Between the economic downturn of the early 2000s, the growing reliance of data and analytics and the shift in generational interests, it’s more important than ever to have a solid marketing strategy. Whether a multinational operator or a single location situated along a river, a clear strategy will be a roadmap that helps set measurable goals that will get a business to the promised land of success and growth. More importantly, a clear, articulated marketing strategy can provide several benefits if it’s realistic and easy to understand and implement. In addition, a marketing strategy can eliminate potentially catastrophic ad-hoc decision making since all decisions will have to comply with an established strategic roadmap.