Ever wonder why some marketing initiatives crash and burn despite leadership oversight? The culprit often lurks in one fatal flaw: random acts of marketing.
In this article, we delve into five indispensable strategies for dodging these missteps and the dire consequences that follow when marketing lacks a solid game plan.
Random acts of marketing occur when actions are taken without a clear strategy or purpose. From jumping into paid media to treating all your customers the same, these efforts lack the fundamental understanding of audience segments, brand positioning, message effectiveness, and market segmentation. It’s no wonder that companies that lack a strategic approach, continue to not see marketing effectiveness, risk squandering resources, and fail to meet business goals.
Understanding the customer journey is integral to executing these strategies effectively. It’s not a funnel. It’s a linear time-based series of contact points across various channels. Which ones are most effective when? Lead your customers through each stage of the journey, and you will mitigate the risk of falling prey to random acts of marketing.
Consider Bud Light's misstep as a cautionary tale. Their misguided attempt at inclusivity backfired, resulting in a significant sales dip and tarnishing of brand reputation. Diversity is a great objective, but what was their strategy? How does it fit into the overall Brand strategy? What’s the risk of inaction? And what’s the cost of getting it wrong? Had they prioritized strategic planning, the outcome could have been vastly different.
Strategic planning isn't just important—it's paramount. Random acts of marketing squander resources and damage brands. Marketing leaders must resist the allure of the "shiny object" and remain steadfast in their commitment to strategic marketing.
Don't leave your marketing strategy to chance—embrace the power of strategic planning. #MarketingStrategy #StrategicPlanning #BrandBuilding
For more insightful marketing advice, reach out to Stuart.
Topics: CEO Strategies, Marketing Strategy, Strategic Planning, Brand Differentiation
Wed, Mar 20, 2024