A marketing strategy is a long-term vision outlining a business’s value proposition to its customers. Rather than describing the concrete actions required in specific advertising campaigns, marketing strategies are used as a compass to direct overall marketing efforts.
While it may be tempting to jump ahead and hash out a marketing plan right away, marketing strategies have been shown to improve success. Read on to learn more about what marketing strategy is, why it matters, different types of marketing strategy, and what you need to do to make one yourself.
What is a marketing strategy?
A marketing strategy is an overview of how a business or organization will articulate its overall value proposition to its customers. Generally, a marketing strategy outlines the business’ goals, its target market, buyer personas, competitors, and value for customers. It provides a long-term vision for overall marketing efforts, often looking many years ahead.
Advantages of a marketing strategy
Marketing strategies can have a measurable impact on success.
In 2022, for instance, CoSchedule surveyed 3,599 marketers and bloggers to identify their most successful marketing practices. They found that marketers who documented their marketing strategy were 331 percent more likely to report success than those who didn’t. Furthermore, marketers who were the most organized were found to be 674 percent more likely to report success than those who weren’t [1].
Taking the time to create a marketing strategy can pay dividends in the future.
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