We often see companies, agencies and marketers using the term Marketing Strategy interchangeably across a broad number of initiatives and tasks that are really different from each other and need to be defined as different up front to make sure everyone is on the same page which will eliminate work overlap or double up and make the work more effective.
Where we see this the most is a B2B business has Strategic Objectives where part of solving for those objectives is having a B2B Marketing Strategy and to solve for that marketing strategy you need a B2B Marketing Tactical Strategy and finally you’ll need to execute the tactics that are a part of the tactical strategy.
That’s a Mouthful! But let’s break it all down through an example.
B2B Marketing Strategy
The B2B Marketing Strategy should support the businesses strategic objectives by giving a clear plan as to how it will accomplish this overall.
A Manufacturer wants to launch one of their products into a new market in the next year.
They need to achieve $200,000 in sales by the end of the first two quarters to feel the new market will be sustainable.
The sales team tells the marketing team that they will need at least 4 leads per day to close that sales number.
The Marketing team would need to know several things…
- What is the product
- What is the target market
- What is the budget for the marketing initiative
The Marketing team would then create a plan that reads something like “Over the next 30 days we will build a campaign plan that uses this message, includes these assets, targets these buyers, using this ad spend budget, with a goal of generating this number of leads per day”
Obviously it has more detail, but you get the point.
There’s your Marketing Strategy.
B2B Marketing Tactical Strategy
The Tactical Strategy should support the marketing strategy in it’s goal.
The Marketing Strategy was “Over the next 30 days we will build a campaign plan that uses this message, includes these assets, targets these buyers, using this ad spend budget, with a goal of generating this number of leads per day”
The Individual Marketing Team Members would need to know several things…
- What is the goal (x number of leads)
- What is the ad spend budget)
- What is the target market
Those team members can then research their available platforms to identify where the best opportunity is for targeting and distribution to reach those goals and come up with a Tactical Strategy that reads something like “We will use these platforms, with these ad types, targeting this criteria (keywords, geo, industry, company, job title, etc.), using these budgets for each of the platforms, which will generate this number of leads per day.”
Again more detail would exist, but again you get the point.
There’s you Tactical Strategy.
So then all that’s left is to get approval and execute on the tactics of the tactical strategy, which satisfies the marketing strategy that satisfies the business strategic objectives.
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