What is a marketing strategy?

We often hear businesses talking about their marketing strategy when they really mean their marketing plan. These two things are related but serve very different purposes.

Confusing these two things can lead to missed opportunities for your business and muddy the direction of your marketing, especially in professional services.

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So, what is a marketing strategy?

A marketing strategy answers the question "Why are we doing this?"

Your strategy includes the big-picture thinking and defines what you want to achieve, who your audience is, and what makes you stand out in the market.

A strong marketing strategy should include:

• Market research
• Competitor analysis
• Brand positioning and unique selling points
• Target audience profiling
• Clear messaging and tone of voice
• Differentiation strategies
• Long-term goals and objectives

For example, when creating a social media marketing strategy for a brand targeting the finance market, you would need to communicate confidence and value to your audience.

A solid strategy can only be put in place when you have strong research, insights, and a deep understanding of your target market.

A marketing plan, on the other hand, answers the question "How will we make the strategy happen?"

Your plan will break down the actionable steps you need to take to bring the strategy to life. A good marketing plan should include:

• Content calendar and deadlines
• Your marketing mix i.e. social media, email, paid ads, etc.
• Campaign development and execution
• Budget allocations
• KPIs to measure success
• Team roles and responsibilities
• Schedules for launches or events

For professional brands, this might mean high-value content  that speaks to your target clients, a detailed rollout schedule for content about new regulation changes, or planned social media campaigns to align with industry events.

At Floor Ten, we support you to develop a marketing strategy that will lead to successful campaigns.

So, whether you’re refining your social media marketing strategy starting from scratch we always make sure that you follow a clear, intentional path— and don’t get caught up in random tactics.

Meet us on Floor Ten where we will help you share your business' unique point of view with a clear strategy and solid plan. Find out more here.