Marketing Strategy vs Planning
We've got a marketing plan, we're fine...
In order to do meaningful work, you need to know where you are going and how you will get there.
In other words, you need a marketing strategy and a marketing plan.
The strategy is the why behind the work, and the plan is the when and the what that describes the work. I admit, this is a simple definition, but there is often confusion around strategy versus planning. This is especially true if you work on a team that does not lead with strategy. You might wonder — Do marketing teams really need both? What are the differences?
We hope you find the below illustration useful.
Marketing strategy
VS
Marketing plan
Owned by the CMO.
The ‘why’ and ‘what’.
The ‘thinking’.
Goal setting.
Supports business objectives
The “what” defines what you deliver, how you deliver it and the message/position you will use to define your product or service with your intended audience.
Overall, long term direction.
Components:
Vision, Mission, Positioning, Value proposition, Market outline, Sizing, Targetting, Personas, Competitive landscape, SWOT.
Owned by the Marketing Manager.
The ‘when and what’.
The ‘doing’.
Goal achieving.
Supports the marketing strategy.
The marketing plan is the matrix of ideas, systems, and events. It is the application of your strategy to create a road map that will get you from point A to point B.
Day to day performance and results.
Components:
Target market, Campaign goals, Timeline & KPIs, Channels & Tactics, Platforms to use, Budget(s), Activities, Dependencies.