Does every business need a marketing strategy? The clear answer is “yes.” Consider a marketing strategy as the “GPS” that guides all business marketing efforts. An organization’s marketing strategy combines its marketing goals and tactical efforts into one forward-looking comprehensive plan, essentially providing a blueprint for achieving the objectives of the business. American businessman John Sculley summarized it this way, “Marketing strategy is a series of integrated actions leading to sustainable competitive advantage.”

Why is Marketing Strategy Important?

A well-developed marketing strategy delivers these important benefits:

  • It provides direction. As baseball legend and humorous philosopher Yogi Berra said, “If you don’t know where you are going, you’ll end up someplace else.”
  • It helps the business better know, understand, and connect with its target audience.
  • It contributes to a more clarified and unified brand voice.
  • It assists in driving more effective marketing tools integration.
  • It helps avoid wasting resources.
  • It helps to focus and optimize the efforts of the business.

How to Plan Your Marketing Strategy

  • Set quantifiable business objectives that the company wants to hit next year.
  • Define and research the target market.
  • Define and research the competitive framework.
  • Define the business’ unique selling proposition.
  • Assess the strengths, weaknesses, and opportunities faced by the business.
  • Establish marketing priorities that fit the capabilities and resources of the organization.
  • Set marketing goals that define what marketing will do to support the overall goals of the business.
  • Develop the marketing strategy; a plan for how the marketing objectives will be reached. That will include key actions and tactics often referred to as “the marketing mix.”
  • Define dependencies and risks.

Without a marketing strategy, a business can:

  • Lose out to competitors
  • Lose customers
  • Miss opportunities

Seek Expert Digital Marketing Experience

Contact the professionals at MGA Digital Marketing, based in Irvine, CA for expert marketing solutions. Our goal is to provide results-driven marketing strategies for businesses of all sizes. Trust MGA to help promote your services, grow your customer base, and improve your bottom line.