It makes sense to question how much time your team should spend on marketing strategy. After all, it seems like time spent actually doing something, rather than planning to do something, gets more results. Especially with tight marketing budgets and even tighter marketing staff schedules, you can even wonder if you can make any time at all for strategy. However, it is proven time and again that making a plan can help your team be more efficient with their time each day and throughout the year.
Exactly how much time you should spend on marketing strategy depends on your company, your placement in the market, and your growth expectations. A marketing agency can help you define all of these variables if you aren’t sure what they are. It is necessary to have an understanding of your realistic starting point of where you are and desired ending point of where you want to be. Armed with that information, you will know how much effort to put forth to increase awareness about your company, promote certain products or company values, or introduce your product to new markets.
Typically, the best route is quality over quantity. Try to assess which actions are most important to your company’s key goals and move forward with those only. With a marketing strategy that focuses on several key promotions or events, more focus can be put into them to develop them properly. Ample time can now be spent strategizing with a more focused discussion. Purposeful thought can go into the key steps that you identified.
Today’s analytics rich marketing plans are shifting to a “less is more” mentality. While a marketing strategy can still be robust, there is a more controlled approach. More events and activities may provide an opportunity to touch more people, but it could also just mean that you have diluted your resources and the impact that the marketing has. Dwindling are the days of mass email or fax distributions to contacts from purchased lists with little or no connection to your company.
Instead of stuffing the calendar with every event, mass marketing blast, and gimmick, time is spent on marketing strategy that provides a better design for your approach. Through this thought-based approach, rather than yesterday’s action-based approach, there is more of a forum for deep and creative thinking. This level of involvement with the project alone can foster better, more original marketing ideas within your team.
Of course, time spent on strategy isn’t just for the planning stages of the projects. You can assess how the strategy is doing throughout the year by running the data and seeing how the results stack up to what you intended. With real-time results available in marketing dashboards, it is easy to make necessary tweaks and adjustments to keep projects on track with the final goals. Ample time should be devoted to marketing strategy as your team creates, analyzes and adjusts the plan.