Marketing without strategy is like throwing mud against a wall and seeing what sticks. Strategy brings focus and focus drives execution and execution delivers results with improved marketing ROI.
We have all worked on marketing programs without a clear strategy or vision consequently the results have been poor and the fix has frequently been to spend good money after bad. In today’s economy it is critical to implement metrics for success and establish accountability for ROI marketing. To do this it is critical to have a clear vision and strategy for the program. In fact, the marketing program supports tactics that in turn support the strategy. But, do not back into the strategy. Rather strategy is the starting point. Also, establish clear metrics for success that are measured throughout the program. Again, don’t wait until the end because by then it is to late to make changes. By measuring throughout the execution stage you will test the strategy and tactics and can make mid course corrections if you are missing the target. At the same time if you are exceeding the metrics then do more.
The lack of strategy is a common mistake as the belief is that he product does everything and the market is everyone. The good news is that this can be fixed with a well thought out marketing plan. This will allow you time to develop the target market, supporting messaging, value proposition and differentiation, competitive landscape, etc. Execute the program and watch the ROI improve with increased sales.