Marketing Strategy v Marketing Plan

Marketing Strategy v Marketing Plan

They are both important.

Sure, you will still be able to execute a marketing plan without a strategy. But, is it effective? Are you achieving your business goals?

So, what is the difference between a marketing strategy and marketing plan, I hear you ask.

A marketing strategy sets the overall direction and goals for your marketing whilst a marketing plan outlines the specific actions you will take to implement your marketing strategy.

Marketing Strategy - the Big Picture

WHAT needs to be done in order to achieve your business goals? Your marketing strategy is the thought process behind your how.

To come up with a great marketing strategy, you first need to have a sound understanding of your product, competitive advantage and the market. Then, define a set of marketing goals that will help achieve your overall business goals before applying effective marketing tactics to help achieve your goals.

Here are some of the elements that form your marketing strategy:

  • Business Objective and Marketing Goals
  • Target market, customer profiling and customer persona
  • SWOT & Competitors Analysis
  • Customers touch points
  • Products/ Services - USP and Competitive advantages
  • Marketing tactics- Inbound & content marketing? UX Design & User Experience? Social media marketing? Influencer marketing? Funnels?
 

Marketing Plan - the “How”

How are you going to implement these marketing efforts? This will be the step-by-step guide to delivering your overall business strategy.

These are the stepping stones that will help reach your business goals.

Your marketing plan should always reflect your marketing strategy.

Elements of your marketing plan:

  • Sales target & forecasts from marketing activities
  • Marketing budget
  • Marketing campaigns that translates your marketing strategy into actions
  • Reporting & analysis - evaluation of your marketing tactics

MARKETING STRATEGY ---> MARKETING PLAN ---> IMPLEMENTATION & EXECUTION = SUCCESS

Remember, tools don’t solve problems, strategy does.


If you haven’t already - be sure to set some time aside work on your marketing strategy & marketing plan for 2018. You should conduct your marketing planning process every 3 months and revise your plan when necessary. This is the beauty of digital - you can test, tweak and optimise anytime.

Get in touch if you would like Your Digital Ninja to help you with your marketing strategy and marketing plan for 2018 or simply have us to conduct The Audit so that you can have a step-by-step action plan that can be executed immediately.