Get your marketers into the room
As a marketer, we're often asked to support a single business objective, ‘hit this revenue figure’, or ‘launch this really well’. Whilst having this north star can be helpful, and certainly gives marketers a clear direction for where to head. Great marketing strategies are written and delivered when business strategy and marketing come together. So, this blog is all about getting your marketer in the room when business decisions are being made. If you don't have a marketing director, or a senior marketing lead believe can support you in this, it's time to give us a call!
Marketing strategy and business strategy are intertwined and interdependent. A successful marketing strategy is an integral part of a business strategy, and the two must be aligned to achieve the desired outcomes.
The below list is just a few of the areas which benefit from the partnership of the two.
It helps in defining business goals
One of the most significant benefits of aligning marketing strategy with business strategy is that it helps in defining business goals. Marketing is not an end in itself, but a means to achieve business objectives. When marketing strategy is connected to business strategy, it becomes easier to define specific, measurable, achievable, relevant, and time-bound goals that are aligned with the overall business strategy. This ensures that the marketing efforts are focused on achieving the desired outcomes. But also, marketers are attuned to your customer’s needs and desires, and the market landscape - they can help inform your goal setting like no one else in the business.
This intertwining also allows marketing to touch other elements of the business where they may add value - HR, and product development.
2. It ensures effective resource allocation
Another important benefit of connecting marketing strategy with business strategy is that it ensures effective resource allocation. Resources such as time, money, and personnel are limited, and it is essential to allocate them wisely. By aligning marketing strategy with business strategy, you can prioritise the marketing activities that are most important to achieving the overall business goals. This ensures that resources are allocated in a way that maximizes the return on investment.
3. It facilitates better and speedier decision-making
It's time to remove the layers of corporate treacle and allow for reactive decisions when they're required. Connecting your marketing strategy to your business strategy also facilitates better, and quicker decision-making. When marketing strategy is aligned with business strategy, it becomes easier to make decisions that are consistent with the overall business objectives. This is especially important when making decisions about new product launches, pricing strategies, and marketing campaigns. When decisions are aligned with the overall business strategy, it reduces the risk of making costly mistakes that can impact the bottom line.
4. It can increase competitiveness
Connecting your marketing strategy to your business strategy can also help increase competitiveness. By aligning marketing strategy with business strategy, you can differentiate your product or service from competitors. This can be achieved by focusing on unique selling points, such as quality, price, or customer service. A well-defined marketing strategy that is aligned with the overall business strategy can help the business stand out from competitors and gain a competitive edge.
5. It can improve customer experience
Finally, connecting your marketing strategy to your business strategy can also help improve the customer experience. Marketing is not just about promoting a product or service; it is also about providing, creating and curating a positive customer experience which consumers connect with. By aligning marketing strategy with business strategy, you can ensure that the customer experience is consistent across all touchpoints.
Do you work with your marketing director when setting your business strategy? Or do you pull them in once it's been set to deliver it?
Our advice? Bring them in early, their view, and outlook will be only add to make the strategy a success.