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9 key differences between strategy vs tactics

‘What is the difference between strategy vs tactics?’ is one of the most common questions that 'crops up' when I’m running training workshops or discussing creating marketing plans with businesses. It’s no surprise since the difference between these two activities often isn’t distinct. Yet, it’s an important question to answer since our research shows that so many businesses don’t have a clear marketing strategy or plan. Without a clear strategy, it’s likely some of your tactics may be poorly directed, so may not be propelling the business in the direction needed. [si_guide_block id="5676" title="Download FREE Resource – Digital marketing plan template" description="Our popular marketing planning template built on the Smart Insights RACE Framework."/]

9 key features that distinguish marketing strategy vs tactics

In this article, I will show the difference between strategy and tactics by looking at characteristics of marketing strategy, which…

Introducing 3 key methods for an integrated sales and marketing strategy

Marketing and sales teams have a reputation for not getting along. Working towards the same ultimate goal in different ways means there is often friction. That's why we recommend an integrated sales and marketing strategy. We’ve all heard that when the sales are coming in it’s because the sales team is doing a great job and when the sales slow then the marketing team needs to pull its socks up. How do we fix this? The key levers are regular and open communication, an understanding that each team needs the other in order to succeed, and well-implemented systems that help, rather than hinder performance for both teams. [si_blog_banner_cta] Traditionally, sales and marketing have different priorities, you can see some examples below. Of course, in an integrated approach, both teams are aware of and support each other's functions too. …

Three Go-to-Market models to help you strategize, plan and deliver

Business and marketing go-to-market strategy is an essential component in the delivery of any successful product, service, or promotional launch/campaign. We’ve written extensively at Smart Insights about the importance of defining a target audience, producing a clear value proposition and optimizing the right marketing mix; just three elements of good marketing strategy to help ensure brands create a competitive advantage, deliver value for customers and generate profit for the business. However, the success of any strategy is dependent on how this is ultimately executed and within this post, I’d like to look at a few different ways this can be brought to life as part of a Go-to-Market (GTM) plan. [si_guide_block id="21479" title="Download our Premium Resource – Business marketing plan guide" description="A marketing plan provides focus, defines the approaches to grow your market share, expand products or move into new markets and ensures you…

Discover our top 7 recommended different types of marketing plan options for developing and streamlining your marketing planning activities

Planning is a must for any business that wants to succeed, but choosing the right type of plan to define your strategy and structuring it can be difficult. Especially since there are so many different types of marketing plan within marketing and business, all with a different scope. The challenge is compounded if you are new to creating plans, or to the culture of planning within a business. It seems that the difficulty of choosing the right type of plan and how to structure it to deliver results stops many in their tracks. Our research shows that, shockingly, as many as half of businesses don't have a digital marketing plan or, perhaps worse, a marketing plan on which to base it. [si_guide_block id="95323" title="Download our FREE Resource - Understanding different types…

AIDA model explained: Examples and tips for using this strategic marcomms planning model the real world

The AIDA model, tracing the customer journey through Awareness, Interest, Desire and Action, is perhaps the best-known marketing model amongst all the classic marketing models. Many marketers find AIDA useful since we apply this model daily, whether consciously or subconsciously, when we're planning our marketing communications strategy. Particularly during this period of inflation, nurturing potential customers during their decision-making process is more important than ever. Find out more. [si_monthly_campaign_blog_cta_banner id=162004]​​

What is the AIDA model?

The AIDA Model identifies cognitive stages an individual goes through during the buying process for a product or service. It's a purchasing funnel where buyers go to and fro at each stage, to support them in making the final purchase. It's no longer a relationship purely between the buyer and the company…

Using Kotler's Pricing model to review positioning

Also referred to as the nine quality-pricing strategy, since it is a matrix covering nine options, the aim of Kotler's Pricing model is to help companies position their products or services relative to competitors as perceived by the market, and consider their pricing strategy accordingly. You can use the Price - Quality Strategy Model to review competitors’ products and services and review their strategies. Why do they charge more? Why do they charge less? Sometimes if aspects of a service are removed, this can contribute to lower prices.

What are the 9 Pricing strategies?

The nine pricing strategies are shown below, relating price against quality. [si_blog_banner_cta] Our summary below reviews the most frequently used strategies based on the different objectives: 1. Maximum current profit objective A Premium strategy (top-left) is used for this objective. Typically, there are few competitors…

Learn how you can use the Product Life Cycle (PLC) marketing model to project changes in the perception and use of your products

The Product Life Cycle describes the stages of a product from launch to being discontinued. It is a strategy tool that helps companies plan for new product development and refine existing products.

What are the stages of the Product Life Cycle?

Introduction Growth Maturity Decline [si_guide_block id="29978" title="Download our Free Resource – Essential marketing models" description="With so many marketing models to choose from, it can be difficult to know which is the best to use in a specific situation. This free guide has been created to help today’s marketers apply our pick of the most popular established frameworks to aid their decision making."/]

New Product Development

The new product development stage occurs before the product's life-cycle begins, consisting of market research leading up to product launch. Hence this stage can include: Reviewing…

What are the essential parts of a marketing plan template?

A marketing plan is a strategic document that specifies your organization’s target markets, marketing objectives, programs and activities to achieve them, timescales and the resources to be utilized, according to defined budgets. The purpose of a marketing plan is to define strategies to engage audiences in order to achieve business objectives.

What is the purpose of a marketing plan?

In smaller businesses, the scope of a plan is typically annual and for the whole business. Typically, SMEs are working with smaller budgets and tighter turnaround times. For a small business looking for rapid growth, the purpose of a marketing plan is to identify where  to prioritize investment of time and available budget to generate results. In larger organizations, its focus will change, depending on the type of organization.  A separate marketing plan might be: Geographically-based Product-based Business unit based Focused on segmentation A marketing plan in…

How to use Segmentation, Targeting, and Positioning (STP) to develop marketing strategies

Today, the STP marketing model (Segmentation, Targeting, Positioning) is a familiar strategic approach in modern marketing. It is one of the most commonly applied marketing models in practice, with marketing leaders crediting it for efficient, streamlined communications practice. STP marketing focuses on commercial effectiveness, selecting the most valuable segments for a business and then developing a marketing mix and product positioning strategy for each segment. As Martech continues to develop, so do opportunities for segmentation, targeting, and positioning. So whether you're brand new to STP or a seasoned veteran, it can be useful to take stock and double-check you're utilizing every chance you get to reach, interact with, convert and engage customers. [si_guide_block id="29978" title="Free essential marketing models" description="Our free guide details 15 classic planning tools to help you use data and analysis to develop your marketing strategy."/] The STP model…

What is the 7Ps Marketing Mix and how should it be used?

The marketing mix is a familiar marketing strategy tool, which as you will probably know, was traditionally limited to the core 4Ps of Product, Price, Place and Promotion. It is one of the top 3 classic marketing models according to a poll on Smart Insights. The traditional 7Ps of marketing consist of: Product Promotion Price Place People Process Physical evidence [si_guide_block id="29978" title="Free essential marketing models" description="Our free guide details 15 classic planning tools to help you use data and analysis to develop your marketing strategy."/]

Who created the 7Ps marketing mix model?

The 7Ps marketing model was originally devised by E. Jerome McCarthy and published in 1960 in his book Basic Marketing. A Managerial Approach.  We've created the graphic below so you can see the key elements of the 7Ps marketing mix. …