You may have heard the famous saying: “a goal without a plan is just a wish.”
Unfortunately, there’s nowhere this is more true than in the world of business. According to recent research, 50% of all small businesses fail within the first five years. And while it’s hard to know the specifics of why a business closes its doors, on some level, many business leaders lack the plans they need to succeed in today’s crowded market. And because standing out from the crowd with the right marketing is more crucial than ever, planning the perfect strategy is a tactic you can’t afford to overlook.
If you tend to go with the flow in terms of marketing, this may be your wake-up call. Here’s why a clear marketing strategy is so important for your business.
1. Set Objectives and Goals
Like anything else, your marketing tactics need direction to flourish—otherwise, you’ll spend most of your time running in circles. It’s great to have big-picture creative visions for your marketing campaigns, but only a focused strategy can help you get that vision off the ground.
With a marketing strategy, you’ll be able to establish and set efficient SMART goals that help you move the needle for the specific areas that matter most, rather than crossing your fingers and hoping your campaigns work where it counts.
2. Target the Right Audience
If there’s one strategic decision your marketing campaigns need, it’s careful targeting. Throwing all of your funds at a campaign that covers too broad a spectrum of users—or the wrong users entirely—is a surefire way to tank your ROI.
Instead, crafting strategic buyer personas or fictive representations of your ideal customer based on analytics and other information—can help you make a true impact that reaches the leads you most want to focus on. Plus, a well-crafted marketing strategy will pull in data about buyer behavior, the best platforms to reach your audience, the tone and voice your audience wants to hear, and more.
3. Consistent Communication
In today’s crowded marketplace, consistency is key. Audiences expect to see consistent content from their favorite brands, from a clear voice across the spectrum of content types to established posting schedule users can count on. If you’re not focused on consistency, you’re missing out on audiences that will quickly pass you over for competitors who do the job right.
A marketing strategy helps you communicate value with a clear, consistent voice. It also can help you with everything from establishing an automated social posting schedule to delivering the right messages in your email newsletters at the right times. In turn, it makes it easier for your team to get involved in the vision: from the writers to the web developers to the designers, a marketing strategy makes your brand goals and messaging clear for everyone.
4. You Can Allocate Resources
It’s tempting to simply throw funds at a short-term campaign that’s promised to work or to overwork your people based on upcoming deadlines—but this isn’t a sustainable strategy for your long-term marketing goals. Instead, a clear marketing plan can help you understand how you’ll promote your business throughout the year, how much your campaign will cost over time, and how you’ll allocate work to your team to ensure that everyone pulls their weight fairly.
The bottom line is this: if your business plans to carve out space in today’s market, you’ll need to harness the power of a clear marketing strategy. But even if you’re not sure where to start when crafting a strategic plan, we’ve got you covered. Our range of services includes strategic planning to help you stand out from the crowd, so partner with us today to get started!