Start With Strategy

Posted by Jill Mast on Nov 6, 2017 12:56:07 PM

I’m the queen of list making.

Every day I make a list of the things I need to accomplish, then rank them from highest priority to lowest. As I accomplish things throughout the day, I cross them off my list, and if priorities change, I reorganize.

Part of this list making comes from habit, and part of it comes from my unending need for organization. But no matter the reason, my list gives me focus. It helps me to prioritize the things that are most important and critical for a successful day, and it helps me avoid wasting time and energy on unimportant tasks. In its most basic form, my daily list is my strategy.

 

When "Winging It" Goes Wrong 

Years ago, a client of mine who built a successful technology company found himself in a pickle: His market share and profits continued to shrink as new technology quickly made his product obsolete. In full panic mode, his solution was to keep throwing money into big media buys in hopes he could advertise his way out of the situation. 

I had seen this all before. Not eager to watch another good business tank, I intervened. Instead of wasting good money advertising a product to a customer base that was no longer interested in his product, my team and I encouraged him to invest in strategy. We ran a market analysis, developed target personas, and helped him determine who would benefit from his product and how he could evolve to stay relevant.  We analyzed our data points, and reorganized our priorities as it made sense.

The result? A new business model that allowed the company to remain in business to this day.

 

The Moment of Truth 

How do YOU approach your marketing? Do you develop a strategy that focuses on your goals and outlines a plan to accomplish them? Or do you just “wing it,” fitting in marketing when you have time?

The key to marketing success is starting with strategy. Clearly defining your goals and then creating a realistic, action-oriented plan to get there will give you the highest probability of success. 

It’s so easy to get distracted by each new social media platform, digital channel, or promotional package being sold by local TV or radio stations. Making decisions on how and where to spend your valuable marketing dollars is easier when you have a strategy and follow it.  Answering one simple question—Is this a part of the overall strategy to meet my goals?—will tell you where to best spend resources, and will make saying “no” to anything else easier.

 

Get Your Plan Up & Running

Many organizations are now in the process of budgeting and planning for 2018. Make sure that your plans and budget include developing a smart, attainable marketing strategy that is laser focused on achieving your goals.

 

Need help getting started? Shoot me an email and let’s talk about your marketing challenges.

 

Let's Talk Strategy

Topics: Marketing Strategy, Strategic planning

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