Make a plan to reach full potential

Marketing strategy is one of my favourite topics for a reason: a well-developed strategy simplifies my everyday marketing jobs as it makes the implementation of different initiatives straight-forward. Most startups know that they need to set up a logo, website and so on but as I learned from my customer last week they don't often fully grasp the crucial role marketing strategy plays. While the finances, logistics, staff hires are of course essential, startup branding and advertising are also incredibly important to a company’s internal solidarity, customer outreach, fundraising and overall success.

Success in business and fundraising is all about visibility, getting noticed by the right people.

In today's world, everybody, large and small compete for the same market and the most innovative and proactive materialize. As a result, a startup's survival is dependent upon their wise marketing efforts coupled by financial operations among other functions within their structure.

Every product launch starts and ends with marketing, the department establishes the needs of the consumers and after introducing the product, seeking to identify whether the customer’s needs were met. Pivoting the product development to establish more reliable and profitable service or product. But before implementing any marketing activity startup should develop a Marketing Strategy as an essential part of the overall strategic business process. 

What is the difference between Marketing Strategy vs. Marketing Plan?

These two concepts create a fair amount of confusion 

Marketing Strategy is a "HOW"

The approach to achieve competitive advantage, how to get to “unicorn status”. It helps to keep the marketing team focused on the bigger picture. Should explain the problem and how to overcome it. Marketing strategies are always rooted in overarching business goals, for example to increase revenue by 40%, then the marketing strategy would explain how marketing actions will help achieve those goals from a high-level point of view. Once the strategy is settled, only then an effective marketing plan can be developed.

Marketing Plan is a "WHAT"

The roadmap of marketing efforts to achieve the marketing goals. The plan includes detailed actions: what to do, where to do it , how much it will cost, and how to track success.

Crafting a winning marketing strategy is a long, detailed process. Usually it won't become a great one overnight, it's even harder if the startup's product or service is trying to reshape an existing industry. To be successful, startups need to obtain a successful strategy in collaboration amidst marketing, sales and product teams. 

The marketing strategy and sales team should align to define what a qualified lead looks like and help to create sales tools to convert leads to customers.

The product team is sharing key research, collaborating on product development and helping to produce key messaging and positioning for the product.

Collaboration will build winning strategy leading early adopters to become lifetime customers and brand advocates.