What are some of the key elements and steps of a strategic marketing plan?

Without discounting the significance of SWOT for internal analysis and market research for external insights, it's been my experience that we have to consider the dynamic nature of modern markets. The linear approach of SWOT may not capture the complexities and rapid changes in consumer behavior and tech advancements. A Continuous Feedback Loop method, synthesizing real-time market data with predictive analytics, could be a more comprehensive strategy than the traditional SWOT and static market analysis.

Marketing audit or situation analysis stands as the first stage of the strategic marketing. It might seem by book, but why not to use proven models & frameworks to structure all data in the way that it guides you what to do next and what will be the solution. Analysis should be done both for external & internal factors. For external, apply modified PESTEL analysis incorporating prospect (threat or opportunity), timing (it is long or short-term), impact (low or high), define consumer profiles, make segmentation of the audience, define key consumer values & needs, use brand association map & define where your product or service stands in eyes of your consumers, use Porter's 5 forces with minor modification (current and future aspects).

For a killer marketing strategy, forget old SWOT and dive into STREAM analysis: Strengths, Trends, Emotions, Aspirations, and Memes. Why memes? Because they’re the pulse of pop culture. Capture them to resonate deeply and humorously with your audience, giving your brand an edge that feels fresh, relevant, and incredibly human. #MarketingTips #STREAMAnalysis #MemeTheMarket

It's important to understand competition and market dynamics before bringing your product to market. Questions to ask: - How big is the total market size? - How many competitors exist? - Who are the users? - Can I create something new? If you can create something new, you can create your go to market strategy using the Blue Ocean framework. But if you're selling a commodity or a common item, careful planning is needed to overtake your competitors. What can you do that they cannot? What are the risks of entering the market? What are the risks of not entering the market? How can you generate demand? These are some of the first questions I ask when thinking about launching anything new to market. Sometimes I win. Sometimes I learn.

By conducting a SWOT analysis, you can clearly identify your internal strengths and weaknesses, as well as external opportunities and threats. This sets a solid foundation for knowing what you need to leverage and what to watch out for. Additionally, a deep dive into market analysis helps you grasp the needs, preferences, and behaviors of your target audience, while competitor analysis gives you insights into their strategies, strengths, and weaknesses. Together, these analyses equip you with a comprehensive view, allowing you to make informed, strategic decisions that align with your goals and market realities.

My perspective on goals and objectives has changed over the course of the last few years thanks to technologies that showcase intent for account based marketing efforts. Once vanity metrics would suffice (website visits, # of followers, # of downloads etc) and that gave way to MQLs/SQLs during the rise of demand generation. Today companies are employing metrics around MQAs (qualified accounts to work with sales on quality over quantity) and now QBGs (qualified buying groups) are popping up. Look holistically at your business. Do you need to convert individuals, accounts or merely the buying groups in your target accounts? Once you answer that question, you can develop goals that incorporate the tactics you will employ in your strategy.

In setting marketing goals, think beyond SMART; think SMARTEST: Specific, Measurable, Achievable, Relevant, Time-bound, Evaluated, Shared, and Thrilling. Yes, thrilling! Goals should excite your team and your market. Imagine aiming not just for new followers, but for creating viral, share-worthy campaigns that make those followers avid ambassadors. #GoSMARTEST #MarketingGoals #ViralVision

When setting up your strategic marketing plan, it’s crucial to be crystal clear about what you want to achieve and how you’ll know if you’re on the right track. That’s where setting SMART goals comes into play—goals that are Specific, Measurable, Achievable, Relevant, and Time-bound. These goals need to resonate with your broader business vision but also be grounded in reality. You want goals that challenge your team but aren't out of reach. Think of objectives as your game plan; they should be clear and trackable.

have a dedication section for what does NOT fall within your goals and objectives. lesson learned from Warren Buffett’s annual letter to shareholders. “as importantly, in year xyz we will NOT…”

GPT Fixez des buts clairs, boostez votre visibilité. Visez des objectifs précis, mesurez le progrès. Objectifs SMART: essentiels pour succès durable. Alignez buts sur vision d'entreprise, indispensable. Exemple : +10k abonnés, cible réaliste et stratégique. Évaluez régulièrement, ajustez pour optimiser résultats.

Somewhere along the line, before you get too far into developing your marketing mix, you need to clearly articulate your target market(s) and your intended positioning within these markets, otherwise you will struggle to develop a meaningful marketing mix (per target market). This often needs quite a bit of thought and will informed by a thorough marketing audit which should also cover what your competitors (current and potential) are doing and key trends within the target market segments. This will endure that all aspects of your marketing mix/plan are aligned and is more likely to be successful.

Marketing (and sales) has nothing to do with the product or service you’re selling but everything to do with who you are selling it to and what it means to them. Once you are crystal clear on who your target audience is then you can craft messaging that really resonates with them and select channels to connect with them ensuring maximum ROI on your marketing spend. Understanding the shopping habits of your target demographic enables you to make informed decisions about the most effective product placement and distribution strategies. This way you can ensure that your products are readily available and easily accessible to your customers where and when they are most likely to make a purchase.

Revamp your marketing mix by adding a fifth P—Personality. In today's digital landscape, brands need to be more than their product; they must embody a persona that speaks directly to the heart of their audience. Inject personality into every P: Product stories, Price justifications, Place experiences, and Promotion antics. Let your brand's unique character lead the charge and watch your engagement soar! #MarketingMixRevolution #5thP #BrandPersonality

Conduct thorough market research to understand customer needs and competitive pricing. Use customer feedback and sales data to refine your product. Optimize distribution channels by analyzing logistics and sales performance. Develop a multi-channel promotion strategy, leveraging digital marketing, social media, and traditional advertising. Regularly review and adjust your marketing mix based on performance metrics and market trends to ensure ongoing success.

The 4P model is a good start, but I find that it is not enough to craft a successful marketing strategy. At least two additional Ps should be added to the model: Problem: Always keep in mind what customer problem your marketing strategy is going to solve. This thinking should drive all other aspects of the marketing strategy. People: You cannot design a marketing strategy without thinking about the people who will support you in its execution. Consider both your team members and other relevant stakeholders who can help you make your strategy a success.

Ditch the boring old marketing calendar for a 'Marketing Advent Calendar.' Each day, unveil a new, unexpected marketing tactic that keeps your team and audience guessing what's next. Assign roles not by department, but by superhero persona to bring fun and creativity to execution. Surprise, intrigue, and delight: your new strategy toolkit. #MarketingAdvent #SurpriseTactics #HeroicMarketing

What's more important than the action plan is who will own that action plan, direct the resources that will execute it, set the KPIs, follow-up on its requirements and hold task handlers accountable. I have been consulted several times by companies desiring to have an annual marketing strategy and quarterly action plan. Some of these ended up never seeing the light as they failed to allocate the right resources to execute them properly.

Think of your marketing action plan as the blueprint for bringing your strategy to life. Start by mapping out a marketing calendar that details all your campaigns, events, and initiatives, so you’re always one step ahead. Assign roles thoughtfully, ensuring that everyone knows their part in the bigger picture. Make sure you’ve allocated the right resources and budget to avoid scrambling later. Keep the plan straightforward and adaptable, reflecting your strategy while staying open to adjustments. Remember, a well-crafted action plan is your guiding light, helping your team stay focused and motivated to achieve your marketing goals.

The marketing action plan is the product of your marketing strategy. Having a detailed marketing action plan places team members accountable for their tasks and requires them to adhere to agreed-upon tasks, deadlines, and budgets. The more detailed the plan, the better for all key stakeholders.

Définissez des objectifs clairs: Ventes? Visibilité? Segmentez le marché: Qui sont vos clients cibles? Choisissez vos canaux: Réseaux sociaux, email, SEO. Créez un contenu captivant: Informer, persuader, convertir. Planifiez vos campagnes: Quand lancer? Quelles durées? Affectez des ressources: Budgets, équipes, outils. Mesurez et ajustez: Analysez les résultats, optimisez.

Budget is not just about crunching numbers, but about making intentional choices that fuel our story and growth. When we allocate funds, we're really deciding which customer experiences to amplify. Maybe it's investing in a talented content creator who can bring our brand to life, or funding an innovative product sampling campaign. The beauty of a well-crafted budget is its ability to reveal untapped opportunities. By closely monitoring both fixed and variable costs, we can spot trends and pivot quickly. This agility is crucial in today's fast-paced market. Every dollar spent should have a clear purpose in moving us towards our goals. It's about creating a financial roadmap that's both grounded in reality and ambitious to drive real impact.

Turn your marketing budget into a game of 'Marketing Poker.' Allocate not just funds, but strategic bets on different tactics. Fold on underperformers, raise on high ROI activities, and maybe even bluff a little on emerging trends. Make budget planning as dynamic as the market itself! #MarketingPoker #BudgetStrategy #PlayToWin

Définissez clairement vos coûts fixes et variables. Priorisez les investissements à fort retour sur investissement. Adaptez le budget aux résultats en temps réel. Allouez des ressources pour les tests A/B. Réservez une part pour l'innovation marketing. Anticipez les imprévus pour rester flexible. Analysez régulièrement l'efficacité des dépenses. Optimisez les coûts sans sacrifier la qualité. Assurez une répartition équilibrée des fonds. Votre budget doit refléter vos objectifs stratégiques.

Implement a collaborative budgeting approach by involving key stakeholders from different teams, such as finance, sales, and marketing, in the estimation process. By fostering cross-functional collaboration, you can leverage diverse perspectives and insights to create a comprehensive and realistic marketing budget. This approach promotes transparency and accountability while ensuring that marketing activities are aligned with overall business objectives. By conducting regular meetings and using collaborative tools like Asana or Trello, we were able to involve stakeholders in the budgeting process, resulting in a more accurate and well-rounded estimation of costs and revenues.

It's really important to feel comfortable ending a campaign that isn't working the way you need it to. It can be sad sometimes to let go of work that you and many others have spent lots of time and energy perfecting but that's part of the process. Learnings are just as valuable and you can use those takeaways to inform campaigns in the future!

In your strategic marketing plan, it’s all about keeping a close eye on how your efforts are performing. This isn’t a set-it-and-forget-it stage; it’s about continuous monitoring and learning. Use KPIs to track whether you’re hitting your objectives. Think of KPIs as your scorecard—metrics like conversion rates, CAC, and engagement levels that show how well your strategies are working. Utilize marketing analytics tools like GA to dive deep into your data and understand what’s driving results. Regular check-ins are crucial; they help you spot what’s working, what isn’t, and where you can tweak for better outcomes. This iterative approach not only keeps your marketing agile but also ensures you're always aligned with your goals.

A marketing plan is a project, if you want to be successful- think about using a project management tool or application to oversee the tasks and stay on target. Having a basic knowledge of project management as a marketing leader really does set you apart as the person who can not only devise a plan… but execute it.

bring the buyer voice into the plan and process, ideally multiple buyers, to add diversity of perspective, test assumptions, gain inputs.

The most important element of your marketing strategy are your consumers! - Unmet consumer needs - 4P preferences (product, price, promotion, place) - Resonating value propositions - Interest and willingness to pay (unconstraint mental and physical availability) in different consumer segments Those are the cornerstones and starting point of every marketing strategy that define your "where to play" and "how to win" choices.

Complex marketing plans may require a project management office to provide expertise, experience, dedicated resources, and visibility into progress and risks, ensuring effective execution on time and within budget.