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What is marketing strategy?

Let’s take a minute and decide what marketing strategy is not. Your marketing strategy should be a clear explanation of how you’re going to get there, not what or where “There” is.

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Let’s take a minute and decide what marketing strategy is not.

  • It’s not your objectives
  • It’s not your goals
  • It’s not a wish list
  • It’s not your mission statement

Your marketing strategy should be a clear explanation of how you’re going to get there, not what or where “There” is.

For example, to sell more tractors than any other tractor dealer is not a marketing strategy, it’s an objective. To give the best service in your market place is not marketing strategy, it’s a mission (Maybe even a wish).

Here’s a phrase you want to familiarize yourself with.

“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” This is Sun Tzu quote, borrowed from the book “The Art of War” and adapted to what we teach at Duct Tape Marketing.

The book “The Art of War” was made popular by the move Wall Street with Charlie Sheen and Michael Douglas.

To many small business owners get distracted by the tactic of the week. This is the shiny object that someone advertising rep brings in and tells you how it’s getting 20,000 unique visitors each month on a website. The problem with the tactic of the week is that you have no filter to measure it by. We’re going to teach you to avoid the tactic of the week syndrome in a future article, but for now just stop doing it and save your money. Unless it’s working, then go for it. You can always adapt it into your marketing strategy after you go through this process.

How to start identifying your marketing strategy

This is going to get into the meat of creating your marketing strategy. Most companies create their marketing strategy in a vacuum, this is backwards.

Here is a three step process to develop your marketing strategy in your business.

  1. Decide who matters
  2. Be different
  3. Connect the dots

Deciding who matters

Your marketing strategy must appeal to someone. You’re going to develop yours around a narrowly defined target profile. I know what you’re thinking, but we sell to a lot of different people. My response to that is, “If it’s working, keep doing it.” If it’s not, try my way.

In the next article I will share how you identify your narrowly defined target audience.

Differentiating yourself

If you don’t have a clear differentiator in your marketing strategy, your market place will differentiate for themselves. There is a problem with not having a clear differentiator, your prospects usually use price to decide.

This step is extremely important if you want your marketing strategy to be effective. And yes, you do have a differentiator. I’m going to teach you how to find it.

Connecting your dots

After you complete the previous two steps, you’re going to take the information and create your marketing strategy from it. This process is the secret sauce to creating your marketing strategy. You will be amazed at how effective this will be, but you’re going to have to read the next couple articles to get the rest of the goodies.

An example of Duct Tape Marketing’s Strategy

  • To create a recognizable brand by turning marketing for small businesses into a system and a product.

Our mission is to radically change the way small business owners think about marketing and our “Marketing as a strategy” is how we’re doing that.

Keep an eye out for the next article in this series on “Identifying Your Ideal Client.” This will give you the fuel to develop your marketing strategy.