Strategy Determines Success or Failure
Do Not Ignore This Stage
A General would not go into battle without clearly defining the objective. Neither should you.
There are three core components to this stage:
- What are the business objectives
- How will marketing contribute towards achieving those business objectives
- What are the marketing strategies that should be employed
Most CEOs do not come from a marketing background, and so may think #2 is the same thing as a marketing strategy. Unfortunately, this is where wasted money, activity and customer attention occurs. By bringing in an expert early on, results can be recognized early and long-term growth can be nurtured from the start.
Strategy Focuses On...
For a Marketing Strategy, the Director of Marketing will zero in on things like:
- what Products or Services are being sold
- what are the most Profitable Products or Services
- who is the Target Market
- what are their Personas
- what is the Buyer's Journey
- what is their User Experience (UX)
- how is Client Relationship managed
This information will inform the creation of a targeted strategy to help keep the lead pipeline filled, decrease cost-per-acquisition and to help focus on the most profitable business.
NOTE: This is not a one-and-done situation. Strategies need to be revisited:
- as the business changes and
- as more data makes refining the strategy possible.
Don't be mistaken: Rebuilding a website is NOT a "Strategy"