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What is a Marketing Strategy?
A marketing strategy is a big picture, or a game plan for your business to achieve your business goals. A Marketing strategy answers key, critical questions about your business, your products, or your services. These are the five simple questions that every good marketing strategy should answer.
1. The What? 2. The Why? 3. The How? 4. The Who? 5, The When?
What is a Marketing Plan?
A marketing plan shows the tactical, individual campaigns that you do to achieve your marketing strategy and your business goals. A marketing plan forms PART of the marketing strategy. It is question 5 of the Marketing Strategy: The When?
A marketing plan is the detail. The detail can vary, but typically you will include these seven key areas into your marketing plan:
1. The type of marketing to be used. 2. The Target Audience. 3. The goals or aim of the campaign/s. 4. The Key Message to be communicated. 5. Budget. 6. Measurement – Key Performance Indicators and results. 7. Timing – When the campaigns will be carried out
Do I really need a marketing strategy or marketing plan?
Think of a Marketing Strategy a bit like a game of football. All successful football coaches use strategies. Do you want to be a successful business? We’re guessing you do. Be like a successful football coach and lay out your strategy. A marketing strategy is essential for your business!