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3 Reasons Why You Should Track Your Strategic Planning Process
Strategic marketing planning is a complicated yet necessary part of every business. Without a solid strategic marketing plan and strategy, you run the risk of increasing the costs of your marketing spending and losing sight of your objectives. Unfortunately, many businesses operate without a clear strategic plan outlining their marketing tactics’ direction and objectives. In a surprising report, OnStrategy found that 86% of business owners and marketing managers spend no more than one hour (or less) per month discussing their marketing strategies. Considering that many businesses fail due to a lack of direction, it’s crucial you avoid making mistakes by paying attention to your strategic planning process. Whether you’re a…
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5 Ways to Strengthen Your Brand Positioning in A Market
Branding is a word that’s commonly used in marketing circles. Like all marketing terms, branding is one of the most important concepts to learn and refine so that companies can establish a strong personality that their target consumers can identify with. Although branding is an essential part of marketing, there’s another term that’s equally as valuable: positioning. According to Chron, brand positioning involves claiming a position in a market or a reputation for a specific product, service, or company. In essence, it’s the way a brand stands out against its competition, which allows consumers to make informed decisions about different brands offering the same products or services. Some of the…
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How to Create a Strong SWOT Analysis For Strategic Planning
Behind every great business is a strong marketing strategy. Most marketers take the time to thoroughly research every aspect of their company, including history, social media presence, and even competition. After research is done, there’s one important element that must be performed: analysis of your findings. For most business strategies, one of the most respected tools to use is a SWOT analysis. You can think of it as in-depth examination of your company’s strengths, weaknesses, opportunities, and threats. This internal and external evaluation of your business’s critical factors allows you to identify, revise, and sharpen your business strategy. Some of the ways you can build a strong SWOT analysis include:…
