Marketing Strategy—Clearly Defined Plans to Meet Your Objectives
Meet your marketing objectives with a clearly defined plan.
What is Marketing Strategy?
The marketing strategy answers the question “How will the sales and marketing functions contribute to the overall business objectives?”
The output of the strategic planning process includes five core components:
- Clearly defined marketing objectives
- A prioritized list of activities
- A marketing budget
- Timelines for actions
- Performance metrics
The strategy should also align with the sales pipeline activities and the business objectives.
The planning process itself is complex. Success is based on a combination of experience, input from subject matter experts, and research—all within the context of a marketing strategy framework.
It requires a deep understanding of the following:
- The full-funnel sales and marketing pipeline
- The effectiveness of differing marketing tactics
- The benefits and opportunities for integrating digital marketing strategies, email marketing, and traditional marketing techniques to attract and engage potential customers
- Marketing technologies, including CRM and marketing automation solutions
- The target customers, personas, and persona profiling
- Products/services offered
- The competitive environment including relative strengths, weaknesses, and pricing
Marketing Strategy vs. Business Plan vs. Messaging Strategy
There is a significant overlap in the marketing strategy, business plan, and messaging strategies. Ultimately you will need all three, but it is also quite common for companies to address them one at a time. These are a continuum rather than separate activities.
Building the marketing plan is also an iterative process. For example, do you define the business plan’s financial objectives before the marketing strategy? Or, does the marketing strategy determine what is feasible financially?
The answer is both. It is impossible to define a marketing strategy (and its budget) without some concept of the sales goals. Equally, once the marketing strategy is underway, one of the sanity checks must be “is this possible with the available resources?”
Learn more about Business Planning and Messaging Strategy
How Can a Marketing Strategy Impact Your Business?
Schedule time to talk to our marketing strategy experts.
Why Choose Ocean 5 for Marketing Strategy?
Experience is a critical component in successful strategic planning. Ocean 5 offers
in-depth insights for market penetration to both US and international companies.
Our experience includes market penetration strategies for the following sectors.
- Business to Business (B2B) for companies targeting medical devices, pharmaceutical, packaging machinery, printing machinery, automotive manufacturing, class 8 truck manufacturing, OEM machine manufacturing, semiconductors, as well as sales via US and Canadian distribution networks.
- Business to Government (B2G) for government contractors targeting both DoD and civilian agencies.
- Business to consumer (B2C) for businesses serving home-owners, seniors, and their adult children.
Products and Services
We have developed strategic plans for companies offering the following products and services:
- Technology: Data Security, Artificial Intelligence, Cloud Computing Service, Managed Service Providers (MSPs), Software Integration, Software Development.
- Engineering: Pneumatic, hydraulic, system integration, heating and air conditioning.
- Health: Pharmaceuticals, in-home care.
We have worked with companies around the world including the USA, UK, Germany, Japan, Australia, and Brazil.
Common Go to Market Strategy Scenarios
The three most common reasons clients choose Ocean 5 for strategic planning are:
- Accelerating the growth of an existing business
- Launching a new product or service
- Preparing a long-term exit strategy
We have also helped well-funded startups as they prepare for rapid growth. For early-stage startups, and small companies still in the DIY stage, we have developed a number of self-help resources.
Learn more in this article: Sales and Marketing Resources for Start-Ups and Smaller Companies.
Included in Our Marketing Strategy Workshops
Each workshop is customized to your business. The most common areas of discussion include:
- Market segmentation and defined target audience
- Evaluation of relationship with existing customers and criteria of purchasing decisions
- Review of prior marketing efforts including search engine results, online advertising, word of mouth, and other marketing tactics
- Persona development
- Product/service focus
- Competitive environment
- Marketing tools and techniques
- Content strategy
- Annual plan
- Q1 actions
- Measuring Performance
At the end of the workshop you will have:
- A 12-month plan
- Marketing budget estimates
- Recommendation on the marketing strategy
- The list of priority action