Let’s start off with a simple analogy, shall we? Here we go. Strategic marketing planning is like a game of chess where you strategize how to make your brand the king, while your competitors are left playing checkers. Funny right? Let’s get more serious then.
Strategic marketing planning is the process of creating a roadmap that outlines your goals and the actions you’ll take to achieve them in a creative and effective way. It involves not only analyzing market conditions, but also identifying target audiences, setting marketing objectives, and formulating strategies to achieve them. That’s right. There is a lot that goes into strategic marketing planning because you can reap a lot of rewards from the same.
Now that we’re clear with the definition and the functions planning, let’s dive into the process of strategic planning.
1: Liaise with other departments
In strategic marketing planning, it’s crucial to align with overall business objectives. Start by looking at other departments and ask yourself: What are the executive team’s top priorities? Who is our target market? What pipeline and revenue goals are we aiming for? Are there any adoption or implementation targets for our products/services? By addressing these questions, you can sharpen your strategic marketing plan.
2: Create marketing goals that align with the business
Here’s an example. To generate 10 crore in new business, marketing must drive leads. If each new client brings in 1 crore, then sales need 10 new clients. Determine the number of qualified accounts needed for sales by analyzing the percentage of contacts engaging with marketing content, passing to sales, qualifying, demoing, and booking. If it’s 10%, then approximately 100 contacts must be transferred to sales to close those 10 new clients.
3: Create a marketing campaign calendar that aligns with your goals
Now that you have focused goals that are strategically aligned with business objectives, you can move on to create a calendar of activities and events. You know the best part? You won’t have someone asking “why is marketing running that webinar again?” That’s because you’d know the answer—it’s to drive X number of leads to sales. That simple.
4: Establish your investments
When it comes to aligning investments, marketers who plan their strategies upfront have an advantage in justifying their budgets. They can confidently say, “Hey boss, this rupee spent will directly impact our business goal, and I’ve got the data to prove it!” It’s like a magic trick that turns marketing spending into budget gold!
5: Let it run!
You’ve done the hard part. Now it’s time to execute your plan and start achieving business impact. While you execute your strategic marketing plan, keep in mind that you should revisit the business goals quarterly. That keeps you on the right track to ensure the marketing organization continues to drive toward overarching corporate goals.
So now we understand how and why strategic marketing planning is a vital process that enables businesses to navigate the competitive landscape and achieve their marketing goals. At Brand Neev, we understand the key elements of planning and help you outline a creative strategy to assist you to achieve your business goals that align with your overall business objectives. If you’re a young Indian brand looking to take your business to the next level, get in touch with us. We’d love to hear from you.