So, in a recent LinkedIn Poll – 74% of people said they thought Strategy comes before Planning …
… and they were right – Strategy does come first!
But…. what’s the difference between the Marketing Strategy and the Marketing Plan?
There are many versions of this but here’s mine;
The MARKETING STRATEGY IS A STATEMENT OF FACTS – or ‘THE WHAT’.
> It needs to state your GOALS
> It needs to state your overall VISION (for the business)
> It needs to state your MISSION – why you do what you do (for the clients)
> It needs to state your (broad) INTENTIONS – what you’ll do as a business to achieve the Vision, Goals, and Intentions
> It needs to have a SWOT Analysis – to state the OPPORTUNITIES AND STRENGTHS vital for the planning part of Marketing
> It needs to state positioning – an OVERVIEW of where the business is currently (also got from a simple SWOT Analysis)
> It needs to state your OFFERINGS (products or services – the things you sell)
> It needs to state the UVP (your Unique Value Proposition) – what’s in it for the customer
> It needs to state who your IDEAL CUSTOMER or TARGET MARKET is (the Intentions will state how you’ll reach them)
> It needs to state your (Company) BRAND VALUES – also vital for the SWOT and UVP
I like to think of the Strategy as a sort of ‘Control Document’ – you state the facts as they are at the time of writing.
The marketing plan says HOW you’ll deliver the above, we’ll save that for another time.
The Marketing Strategy = Facts (the What)
The Marketing Plan = Details (the How)
The real question today – is do you have a documented Strategy?
And if the answer is a big fat NO and you’d like some help, you can book a Free of charge Clarity Call with me here.