Strategic marketing has changed - have you?
After reading HBR's 10 Must Reads book "On Strategic Marketing", it has made me realize how much small businesses are being confused by what they read and hear in regards to strategic marketing.
If you fail to plan, you plan to fail. Right? Well, not always, but it is a good idea to have a plan in place that is a blueprint for what your business is trying to achieve.
The thing with strategic marketing plans is that there are so many variables that have changed and continue to change, that no plan can be set in stone. In fact, you really do need to pick it up out of your drawer every month and revise it, otherwise, you may find out that you are losing ground on what you are trying to achieve as a business.
Googling strategic marketing plans and looking up examples of what other people have written is a waste of time and energy. If this is how you put together your marketing blueprint, then think again. What comes up on Google is simply embarrassing to the marketing industry. Often the examples have been written years ago and do not take into account new marketing techniques, changes in economic conditions or the fact that social media is something that no business can ignore.
Like many books today, On Strategic Marketing is all cover, with little substance relating to the topic at all. Yes, it talks about how sales and marketing can work together, it talks on customer relationships, branding in the digital age adn more. But to be totally honest, its a bland read that needs some real substance. Not too indifferent from other reads on the bookshelf that have eye catching titles but fail to live up to expectations.
Strategic marketing has changed and there are many variables to take into account:
1. Overall business goals, objectives and resources
2. Target market and SWOT analysis
3. Customer relationships
4. Employee relationships and culture
5. 5 P's; Product, price, promotion, place and people
6. Social media
7. Technology
8. KPI's
By moving Social media and technology out of what we all learnt at University in the 5P's, it allows us to give these areas of importance individual focus and accomodate the fact that social media and technology are the biggest drivers of marketing strategies today.
Establishing a workable marketing strategy that is continually updated and deeply ingrained in your company's DNA is paramount to achieving marketing success.
If you fail to plan, you plan to fail. Right? Well, not always, but it is a good idea to have a plan in place that is a blueprint for what your business is trying to achieve.
The thing with strategic marketing plans is that there are so many variables that have changed and continue to change, that no plan can be set in stone. In fact, you really do need to pick it up out of your drawer every month and revise it, otherwise, you may find out that you are losing ground on what you are trying to achieve as a business.
Googling strategic marketing plans and looking up examples of what other people have written is a waste of time and energy. If this is how you put together your marketing blueprint, then think again. What comes up on Google is simply embarrassing to the marketing industry. Often the examples have been written years ago and do not take into account new marketing techniques, changes in economic conditions or the fact that social media is something that no business can ignore.
Like many books today, On Strategic Marketing is all cover, with little substance relating to the topic at all. Yes, it talks about how sales and marketing can work together, it talks on customer relationships, branding in the digital age adn more. But to be totally honest, its a bland read that needs some real substance. Not too indifferent from other reads on the bookshelf that have eye catching titles but fail to live up to expectations.
Strategic marketing has changed and there are many variables to take into account:
1. Overall business goals, objectives and resources
2. Target market and SWOT analysis
3. Customer relationships
4. Employee relationships and culture
5. 5 P's; Product, price, promotion, place and people
6. Social media
7. Technology
8. KPI's
By moving Social media and technology out of what we all learnt at University in the 5P's, it allows us to give these areas of importance individual focus and accomodate the fact that social media and technology are the biggest drivers of marketing strategies today.
Establishing a workable marketing strategy that is continually updated and deeply ingrained in your company's DNA is paramount to achieving marketing success.
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