3 Forces Impacting Marketing Strategy
At its core, a marketing strategy is about how a company is going to target and convert its ideal customer profiles into paying customers. A good marketing strategy should align to a firm’s business strategy goals and describe positioning, target segments, value proposition(s), products & pricing, distribution mix and marketing mix. As marketers have been placed under increasing pressure to deliver leads to Sales, many impatient executives claim they don’t have time for strategy – thus, the focus is placed on marketing mix tactics and quarterly campaign calendars. As a result, marketers often try to A/B test their way to lead generation success wasting time and budget in the process. Effective marketing strategy doesn’t have to be difficult nor does it have to be time-consuming. However, it does need to be performed as both B2C and B2B buyers expect brands to personalize their buying experience and those that don’t will no longer remain relevant in the consideration set. Doing this effectively requires an updating your approach to marketing strategy.