There are probably 900 rules of marketing strategy, but these are the ten, in my humble opinion, that make or break a good strategy.
- Keep objectives and goals straightened out. Vision -> Mission -> Objectives -> Goals.(It’s very “cutesy” to come up with the “BFHG” and other bullcrap these days. Go with what works. Strategy predates all of us.) Check Harvard or anywhere else you’d like for the authoritative source on this.
- Be original. Because come on, have some class. No two strategies should ever be the same. No situations in time are ever identical. If your business is in the same place today that it was last year, you did a strategy last year, and your vision is still the same, then you’re doing it wrong. Stop.
- Be thoughtful and intentional. A good strategy wins the war. A bad strategy loses the war. Don’t put down empty thoughts just to fill space.
- Make objectives and goals that build to your mission. If you’re not building towards something, why are you doing it?
- Create SMART goals. Goals need to be specific, measurable, achievable, realistic, and time-bound.
- Make a strategy, not tactics. Tactics are a component of strategy. Strategy must get you from where you are today to where you want to be tomorrow. It should include SEVERAL tactics.
- Fix your business, then your marketing. Marketing can’t fix a business problem. This doesn’t make me popular, but it does make me realistic. All the marketing in the world won’t fix a completely messed up business.
- Build a strong competitive differentiation. If you and every one of your employees and partners can’t answer my your market would pick you over your competitors, how on earth do you expect marketing to be effective? Or even the business to be effective?
- Enable innovation, don’t try to force it. Real innovation is creative, addresses an actual problem, and isn’t forced. Every kid now thinks because they “invented” a way to strap a toilet seat to the roof of a car that they are innovating. That’s not innovating, that’s just dumb.
- Understand, know, and feel your target market. In fact, before you do anything else, know your target market inside and out. What is their pain point that you solve? Where do they engage media and advertising? What do they like to do? What do they think like? What do they do. This one mitigates the previous nine… if this one is violated, it can never be a good strategy.