Marketing Strategy and Strategic Planning

What is strategic marketing?
There are loads of complicated definitions on what strategic marketing actually is and to put it simply; Strategic marketing is essentially the way a company positively differentiates itself from its competitors by effectively utilising its strength’s to provide better customer value than its competitors.

The whole point of strategic planning is to try and future proof your business and enable it to achieve various organisational goals through answering various questions such as:

  • Which markets should we be in, when should we be in them, and who is our target market?
  • What does my organisation have that will give it a competitive edge?
  • Do we have the skills, assets and resources within the organisation to enable planned objectives to be achieved?
  • Where do we want to be in five or even 25 years’ time?
  • How should our company be strategically set out and which market orientation should we focus on?
  • What will our competitors be doing in three or five years’ time?
  • Can we assume that our current operational method will be good enough forthe future?

These are just a few of the many vital questions that your organisation should be asking itself on a regular basis. However, the truth is most organisations don’t have the luxury of time to look into the future. This is of course completely fine and normal, and that’s why we are here to help.

Through asking these vital questions with you we are able to create a full marketing strategy that allows your company to focus over the next 12 months, on the marketing goals that we set together.
 
Other benefits
As well as being able to focus your marketing on a particular target market, which will in turn make your marketing more effective and more cost effective, there are other major benefits of a strategic marketing plan. Such as:

  • Finding opportunities in new markets
  • Generate new product / Service ideas.
  • Allows you to budget more effectively.
  • Provides benchmarks to help measure success.
  • Allows you to actively plan what extra assets, and resources you need for the next stage of your company’s growth.

These are just a few of the many benefits that naturally occur through the creation of the strategic marketing plan.

If you are unsure whether or not your organisation needs a full marketing strategy, please get in touch with us. Alternatively read our blog post which talks about the pros and cons of having a marketing strategy and why business’s need them.   

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