Developing a marketing strategy that considers the perspective of sales and product leaders can help brands achieve their business goals effectively.
Companies often confuse marketing strategy with annual planning. Marketing strategy is a set of decisions and investments planned over three to five years. Annual planning highlights the actions that should take in an upcoming year to advance the marketing strategy.
Businesses should, therefore, prioritise marketing strategy to design an effective annual plan. Before developing the marketing strategy, companies should align their marketing teams with sales and product teams. This alignment can help ensure the revenue-generating functions work in lockstep to advance the business’s overall objectives.
These synchronised efforts can help businesses effectively achieve business goals within targeted deadlines. Apart from aligning teams, marketing leaders must also provide ongoing guidance to sub-functional leaders to formulate their strategies to achieve business objectives.
[3 minute read]