Insights

You have a logo, a website and a sales team, so why do you need a marketing strategy?

Your business is established, you have good relationships with customers, your sales team work hard but you need to build on your growth. You have a logo and a website, you may even post on social media, so what value will a marketing strategy add?

It’s a question that comes up in organisations of all sizes. The honest answer is that what most businesses have built are ‘assets’ and not a strategy. Without a strategy, those assets need to work a lot harder, they’re often pulling in different directions, targeting anyone and everyone, and thereby they create noise instead of momentum.

The importance of building a marketing strategy

A marketing strategy isn't a campaign plan or a social media calendar. It's the blueprint that sits underneath all of that. Your strategy answers the questions that your team will keep coming back to; who are our customers, what do we stand for and how do we reach the right people in the right way?

Without it, marketing and even sales can become reactive. You add a social media post when you remember to, advertising is increased when sales are dipping and your sales team tells a slightly different story than your website does. Your efforts are working in isolation, and not drawing on the power of a considered, consistent approach that aligns with your business goals.

A well-built marketing strategy enables sales and marketing to be more effective

Research by Harvard Business Review found that companies that put marketing at the core of their growth strategy outperform the competition. Specifically those that place brand and advertising as a top growth strategy are twice as likely to see revenue growth of 5% or more than those that don’t. Importantly, this is true for both B2C and B2B companies.

A well-structured marketing strategy that aligns to your business goals focuses on what makes a difference to your business and can be measured by the outcomes that count.

It aligns marketing to your business goals

A strategy anchors every marketing activity to what the business is actually trying to achieve, whether that's growing revenue in a specific segment, entering a new market, or retaining existing customers. It removes the confusion in marketing accountability and allows it to be measured by the metrics that count to your business. Marketing that isn't tied to business objectives tends to feel busy and can be ineffective.

It defines which customers to focus on

This is one of the most impactful decisions a business can make. Many organisations resist narrowing their focus because it feels like you might miss opportunity, or put off potential customers outside of that segment. However, by knowing who your audience is, you’re able to focus your marketing and sales efforts and be more effective.

It determines the channels and ways to reach customers

One of the most common frustrations for businesses investing in marketing is choosing the wrong channels. A strategy removes the guesswork. It identifies where your customers actually spend their time, how they prefer to receive information, and what will prompt them to take action.

It defines how you serve your customers

Marketing strategy isn't only about how you attract customers, but shapes how you serve them once they're in the door. This includes your pricing and how it's positioned, your product or service proposition and how it's communicated, the channels through which customers can buy or engage with you and the support experience that follows the sale.

It supports future decision making

Perhaps the most underrated benefit of a clear strategy is that it gives your business and leadership team a reference point. When a new channel emerges, a competitor makes a move, or a sponsorship opportunity lands in your inbox, a strategy provides the blueprint to check if the decision you’re about to make fits. Allowing you to make the right decision quickly.

The gap that a marketing strategy fills

Without a marketing strategy your sales and marketing can underperform. Inconsistent messaging confuses customers, scattered channel investment can dilute the impact and the absence of a clearly defined value proposition designed for your target audience means you’ll likely spend money reaching people who were never going to buy from you.

The framework of your strategy provides the knowledge that shapes your tone, your creative, your offer and your timing in ways that build impact and allow you to stand out from the competition. When these are aligned, you remove the noise, both for your customers and for your team. Your people know what to prioritise, what to move on quickly and what to say no to.

Businesses that take the time to build their marketing strategy are;

  • Positioned to grow as they know what they are and are not to customers

  • Better equipped to make the right decisions quickly

  • Understood by their customers, making it easier to buy from them

The logo, the website and the sales team are all important. But, without a strategy sitting underneath them, they're working harder than they should be. A marketing strategy provides clarity and builds momentum