There is a lot of buzz about ‘strategic marketing’ these days. But according to Rapunzel Creative’s clients and networking peers, the term is vague to the point where they aren’t sure exactly what kind of marketing it is.
In general, marketing is the combination of advertising and promotion choices businesses make to reach their target consumers. Strategic marketing is the great unifier. It’s the process that clarifies the purpose and goals that guide your marketing efforts. We like to think of it as the roadmap that steers all drivers to the same destination.
A strategic marketing plan helps companies define 1) how they want to grow, 2) who they are targeting as customers, and 3) how they will drive sales. The basic steps include:
- Identifying a corporate mission
- Analyzing the situation (the marketplace and competitors)
- Setting objectives
- Developing a marketing strategy
- Putting measures in place to track and evaluate results
Strategic plans provide the tactics, budget and performance measures that are essential to launching and sustaining a results-driven marketing initiative. Yet surprisingly, many medium-sized companies are still operating without one. Are you one of them? Reach out to the Rapunzel team to talk about putting a strategic marketing plan in place for your business. Request our complimentary marketing assessment.