Importance of A Marketing Strategy Execution Plan
In order to have a successful campaign that drives results, you need to ensure you have a Marketing Execution Plan to follow. A wise Marketing Strategist, Sami Brenner, was signifying the importance of having a Marketing Plan to follow when she said, “if you don’t have one it’s like going on a road trip without having the highway built.” Meaning sure you can certainly go on the trip by creating your own path and yes, it may take you to your final destination. But, is this going to be the most effective route to take? Will you be spending too much time and money on a route that is not taking you to your original destination? In the Marketing world, this would be similar to not having a Marketing Execution Plan to follow. Sure, you might reach some of your goals and get a few results. But at what cost? Would you have exhausted all efforts and budgets for a fraction of the return?
What is a Marketing Strategy Execution Plan?
Implementing a Marketing Strategy Execution Plan, known to Revenue River and our clients as a “Sprint Plan” is the most effective way to prevent this highway-less journey. A Marketing Strategy is a set of strategic goal-focused plans for a certain period of time. At Revenue River it is usually over the course of 4 months. In order to develop a Marketing Strategy Execution Plan, you must start with the end in mind. There are specific objectives developed in order to meet the client’s goals. This entails an in-depth on-boarding process in order to set objectives and goals.
The start of designing a cohesive marketing strategy is planning. The more time you invest in planning, the more information you will have to identify target markets and set measurable goals. In order to have insight into the target market and their behaviors, you will first determine:
- Buyer Personas (a semi-fictional representation of the ideal customer)
- Buyer’s Journey (the buyer's progression through research and decision culminating in a purchase)
Another important objective in the planning stage is to interview key stakeholders. In order to ensure everyone has the same goals in mind, you have to ask them. These interviews help determine:
- The foundation of the marketing strategy
- Any past and on-going efforts
- Competing goals
- A foundation to build off of
During these interviews, the top priority goals are also uncovered. You will need to translate these into SMART goals:
SMART goals are necessary for measuring the success of your Marketing Strategy. Once established, they also help determine the focus of effort and the best way to successfully meet those goals.
Once your goals are uncovered, the next step is determining the best way to reach those goals via brainstorming meetings. Will you need Paid Media? What budget is feasible for the campaign while still driving results? Doing any e-mail marketing? Is there a database to pull existing e-mail addresses? These are a few examples of the questions that will come along during the brainstorming meetings. The main question in mind will be, “What can we do?,” then you will want to start with whichever route will make the biggest impact on your campaign.
If nothing else, the one thing (in my opinion) you must do is the key stakeholder interview. I believe this will be the most beneficial aspect to your campaign. It helps you uncover the goals of the people behind the company or organization you call client. Ultimately, those are the individuals affected by this campaign. You could make their job a lot easier, grow their business, and help them align their goals with their co-partners. In-turn leaving something better than you found it. Yes, all pieces of a Marketing Execution Plan play a vital part in the campaign’s success, but if you had to pick one, it's the interviews. You're welcome.