Are your marketing implementation initiatives at odds with your company’s strategic direction?
You’d be surprised how often the answer to this question turns out to be YES. That’s because what’s frequently neglected is ensuring the right tactics are chosen based upon what your company wants to accomplish. The first step is to clarify the intent of your marketing strategy. For example… is your goal: 𝐌𝐀𝐑𝐊𝐄𝐓 𝐏𝐄𝐍𝐄𝐓𝐑𝐀𝐓𝐈𝐎𝐍 𝐀𝐍𝐃/𝐎𝐑 𝐌𝐀𝐑𝐊𝐄𝐓 𝐃𝐄𝐕𝐄𝐋𝐎𝐏𝐌𝐄𝐍𝐓 – Are you seeking to increase your market share by selling more of your existing products or services in your current market or do you want to enter new markets? 𝐏𝐑𝐎𝐃𝐔𝐂𝐓 𝐃𝐄𝐕𝐄𝐋𝐎𝐏𝐌𝐄𝐍𝐓 – Are you creating new products, product extensions, or, enhancing existing ones to meet the needs of your current market? 𝐃𝐈𝐕𝐄𝐑𝐒𝐈𝐅𝐈𝐂𝐀𝐓𝐈𝐎𝐍 – Are you planning to enter entirely new markets or industries with new products or services? 𝐒𝐀𝐋𝐄𝐒 𝐆𝐑𝐎𝐖𝐓𝐇 – Is your top priority increasing revenue? Once you’ve zeroed in on your strategic focus, the next step is to ensure the tactics you plan to implement are a good match for your strategy. Let’s explore a sampling of ideal tactics for each of these 4 marketing strategies. 𝐌𝐀𝐑𝐊𝐄𝐓 𝐏𝐄𝐍𝐄𝐓𝐑𝐀𝐓𝐈𝐎𝐍 𝐀𝐍𝐃/𝐎𝐑 𝐌𝐀𝐑𝐊𝐄𝐓 𝐃𝐄𝐕𝐄𝐋𝐎𝐏𝐌𝐄𝐍𝐓 ✅Strategic partnerships ✅Tailored messaging to address local preferences and demands ✅Market research to understand unique opportunities and challenges ✅Community engagement programs 𝐏𝐑𝐎𝐃𝐔𝐂𝐓 𝐃𝐄𝐕𝐄𝐋𝐎𝐏𝐌𝐄𝐍𝐓 ✅Content marketing and user generated content ✅Influencer marketing ✅Product bundling ✅Interactive online platforms 𝐃𝐈𝐕𝐄𝐑𝐒𝐈𝐅𝐈𝐂𝐀𝐓𝐈𝐎𝐍 ✅New product introductions ✅Segmented marketing ✅Technology integration ✅Strategic alliances 𝐒𝐀𝐋𝐄𝐒 𝐆𝐑𝐎𝐖𝐓𝐇 ✅Cross-selling ✅Customer retention strategies ✅Multi-channel marketing ✅Mobile marketing strategies The right marketing strategy …
Combined with the right tactics to achieve that strategy …
Is the most effective way to ensure your marketing execution will be in sync with your objectives.
Infographic: The Business Show
Ring the 🔔 on my profile to follow Linda Goodman for marketing strategy and business development content.
Are your marketing implementation initiatives at odds with your company’s strategic direction?
You’d be surprised how often the answer to this question turns out to be YES.
That’s because what’s frequently neglected is ensuring the right tactics are chosen based upon what your company wants to accomplish.
The first step is to clarify the intent of your marketing strategy.
For example… is your goal:
𝐌𝐀𝐑𝐊𝐄𝐓 𝐏𝐄𝐍𝐄𝐓𝐑𝐀𝐓𝐈𝐎𝐍 𝐀𝐍𝐃/𝐎𝐑 𝐌𝐀𝐑𝐊𝐄𝐓 𝐃𝐄𝐕𝐄𝐋𝐎𝐏𝐌𝐄𝐍𝐓 – Are you seeking to increase your market share by selling more of your existing products or services in your current market or do you want to enter new markets?
𝐏𝐑𝐎𝐃𝐔𝐂𝐓 𝐃𝐄𝐕𝐄𝐋𝐎𝐏𝐌𝐄𝐍𝐓 – Are you creating new products, product extensions, or, enhancing existing ones to meet the needs of your current market?
𝐃𝐈𝐕𝐄𝐑𝐒𝐈𝐅𝐈𝐂𝐀𝐓𝐈𝐎𝐍 – Are you planning to enter entirely new markets or industries with new products or services?
𝐒𝐀𝐋𝐄𝐒 𝐆𝐑𝐎𝐖𝐓𝐇 – Is your top priority increasing revenue?
Once you’ve zeroed in on your strategic focus, the next step is to ensure the tactics you plan to implement are a good match for your strategy.
Let’s explore a sampling of ideal tactics for each of these 4 marketing strategies.
𝐌𝐀𝐑𝐊𝐄𝐓 𝐏𝐄𝐍𝐄𝐓𝐑𝐀𝐓𝐈𝐎𝐍 𝐀𝐍𝐃/𝐎𝐑 𝐌𝐀𝐑𝐊𝐄𝐓 𝐃𝐄𝐕𝐄𝐋𝐎𝐏𝐌𝐄𝐍𝐓
✅Strategic partnerships
✅Tailored messaging to address local preferences and demands
✅Market research to understand unique opportunities and challenges
✅Community engagement programs
𝐏𝐑𝐎𝐃𝐔𝐂𝐓 𝐃𝐄𝐕𝐄𝐋𝐎𝐏𝐌𝐄𝐍𝐓
✅Content marketing and user generated content
✅Influencer marketing
✅Product bundling
✅Interactive online platforms
𝐃𝐈𝐕𝐄𝐑𝐒𝐈𝐅𝐈𝐂𝐀𝐓𝐈𝐎𝐍
✅New product introductions
✅Segmented marketing
✅Technology integration
✅Strategic alliances
𝐒𝐀𝐋𝐄𝐒 𝐆𝐑𝐎𝐖𝐓𝐇
✅Cross-selling
✅Customer retention strategies
✅Multi-channel marketing
✅Mobile marketing strategies
The right marketing strategy …
Combined with the right tactics to achieve that strategy …
Is the most effective way to ensure your marketing execution will be in sync with your objectives.
Infographic: The Business Show
Ring the 🔔 on my profile to follow Linda Goodman for marketing strategy and business development content.
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