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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…

What goes into the Amazon marketing strategy secret sauce? Our business case study explores Amazon's revenue model and culture of customer metrics, history of Amazon.com and marketing objectives

In the final quarter of 2021, Amazon reported net sales of over $138.41 billion. This seasonal spike is typical of Amazon's quarterly reporting, but the growth is undeniable as this was the company's highest quarter ever. The following quarter, Q1 2022, Amazon reported a $116.44 net sales, the highest Q1 on record. After a rocks Q3, things are looking up. There is no doubt that the e-commerce retail giant continues to lead the way in e-commerce growth. The Amazon marketing strategy we are familiar with today has evolved since it was founded in 1994. I've highlighted the Amazon marketing strategy case study in my books for nearly 20 years…

How to strategically manage your marketing spend in 2022 with 8 integrated marketing budget templates

Setting strategic and channel direction, working toward commercial objectives and KPIs and monitoring success is great, but if you're not tracking your ROI per channel it's hard to understand how much money you've had to spend to see a return. That's why you need a practical, accessible marketing budget.

How much budget is allocated to marketing?

According to the February CMO survey, marketing budgets were expected to grow 6.7% in 2020. However, the July edition found the real-term figures had shrunk in the wake of the pandemic and global recession, equating to a rise of 1.6% in marketing budgets overall over this year. In a competitive environment for marketers, reporting and forecasting marketing spend is more important than ever. Meaning if you can't prove a tactic has been successful, it will be even more difficult…

Digital marketing is more important now than ever. Take steps to create, streamline, or optimize your marketing strategy today and accelerate your results in the coming year

Where do you start if you want to develop a digital marketing strategy? It's still a common challenge since many businesses know how vital digital and mobile channels are today for acquiring and retaining customers. Yet they don't have an integrated plan to support digital transformation and business growth, and engage their audiences effectively online. If your business doesn't have a strategic digital plan aligned with your business plan you will suffer from the ten problems I highlight later in this article and you will lose out to competitors who are more digitally savvy. For each of the ten problems, I will also recommend marketing solutions and next steps to help you optimize your marketing strategy to win more customers in 2022.

What is digital marketing? The…

Our recommendations on the top 10 free digital marketing statistics covering secondary data sources for Global, European, UK, US, Asia and Latin America

Online marketers love statistics about digital marketing. Us too. They allow us to review the growth in customer adoption of the latest digital platforms and technologies, make the business case for investment in marketing and allow us to benchmark our growth and performance against competitors. From reviewing thousands of stats sources over the years, we've found that there are a very small number of quality online marketing statistics sites and sources which are updated at least annually and have a representative sample size from different countries. Business Members can use our quarterly online marketing statistics compilation, aimed at saving you time when you need the latest stats for a presentation or report you're working on against a deadline. This guide contains a full rundown of the…

From SMART to SMARTER marketing objectives: Discover how to define marketing objectives, measure your digital marketing goals, and use data to inform your marketing strategy

When identifying specific marketing objectives to support your long-term goals, it is common practice to apply the widely used SMART mnemonic. You will know that SMART is used to assess the suitability of objectives set to drive different strategies or the improvement of the full range of business processes. By definition, an effective SMART marketing objective is: Specific, measurable, actionable, relevant, and time-bound. One of the main reasons we called our site and service SMART Insights is because we help marketers succeed through using a more structured approach to their marketing strategy and planning. If you're looking to transform your approach to digital data, media, and customer experiences, why not use the Smart Insights RACE Framework? Identify your problems, and discuss solutions that work for your business. …

A content marketing planning tool to help marketers generate ideas for the most engaging content types for their audiences

We created our Content Marketing Matrix to help our members audit their content marketing assets as part of creating a content marketing strategy. It can also be used for content ideation, i.e. to brainstorm future content ideas to generate leads, nurture prospects, encourage sharing and generate backlinks for SEO. Since we created it eight years ago it's been shared many times and has inspired many 'mashups' in different formats as this Google search shows; great to see it's been useful! I think the CMM is a powerful mindtool for marketers since it's a content mapping tool, structured to help you think through two key dimensions of which types of content will best support the path to purchase for your target audience. The two dimensions are: 1.…

E-commerce conversion rate and lead generation landing page stats for desktop and mobile devices for benchmarking averages across different industries

As you will know, conversion rates are often used as a KPI to review the effectiveness of e-commerce sites. Naturally, all site managers and owners want to know the benchmarks - "how do our conversion rates compare?". Now, as marketers plan for 2022, it's never been more important to audit and optimize your marketing success metrics. In this post, I have compiled different free industry sources focusing on retail e-commerce conversion. At the end of this article, we also feature an analysis of landing page lead generation conversion rates by industry sector towards the end of the post. We keep this compilation updated as new conversion data is published in 2022.

How are e-commerce conversion rates measured?

When benchmarking conversion, it's important to consider the denominator. Are you dividing the number of sales by…

Use our digital marketing strategy template integrated across the RACE Framework to plan and get ahead in your digital marketing

We all know the old saying “if you fail to plan, you are planning to fail”, but when it comes to digital marketing, this really is the case. It has never been more important than it is now to create a digital marketing strategy template so you can plan, manage and optimize your online activities. Today, digital media is vital when it comes to driving leads and sales, meaning marketers need to understand how best to engage and convert online audiences. Despite this, our research shows that many businesses still don’t have a digital marketing plan. As a result, companies are missing out on the benefits of having a digital marketing plan integrated into their overall marketing plan or as a separate roadmap for digital transformation. At a time when marketers are increasingly…

7 steps to creating an effective marketing plan

A marketing plan is a bit like a job description for your company. Everyone should have one, but they’re often not fit for purpose, out of date and reviewed infrequently... Research has shown that businesses with plans succeed, outperform competitors, and retain staff, more than those with no plan. Without a plan there’s no direction for the company or its employees, decisions can be uninformed, opportunities can be missed and threats can damage or destroy the business. Whether you are looking at creating a traditional marketing plan or a multichannel digital marketing plan, here are the seven steps to creating a marketing plan.[si_blog_banner_cta]

What is a marketing plan?

A marketing plan is your place to document the process of managing and optimizing your digital marketing strategy and creating a roadmap for future growth and business development. This includes setting SMART objectives, vision for digital…