In my experience, it’s common for businesses to overlook the inherent link between business strategy and marketing – and also to think that the two are only loosely related, perhaps even superficially related. However, marketing is the execution – it’s the song-and-dance, it’s the visible delivery to your customers of your business’s strategy.
It’s simple really – your business strategy and business plan are the foundations from which a marketing strategy and marketing plan are created. I will go as far to say that business strategy and marketing are so closely related that they are one of the same. For example, a brilliant marketing strategy – one with market & customer insight data to back it up – can influence business strategy to emerge. However, many businesses don’t view business strategy and marketing this way.
On the bright side, this creates a HUGE opportunity for your business to be more successful than other businesses – and most importantly more successful than your competitors – by aligning your business strategy to your marketing.
So if you’ve got a business strategy and plan documented (or in your head soon-to-be documented!) – you’re half way to creating a winning marketing strategy and plan that will generate revenue, whilst steering your business in the direction you want. But please, do me a favour, make sure your business strategy and marketing are one of the same.
Rachel xx