April is the new financial year for many of us and, if you’ve been too busy finishing up last financial year to plan for the next, here is a very short post about marketing planning.
All good marketing plans are based on the logical flow of marketing objectives from which marketing strategies are created and then the marketing tactics (activities) devised that will deliver these strategies and objectives. All three link together.
So, what is an objective, strategy and tactic? Here’s my very unashamedly simple explaination of the difference between the three:
- objective – get to London
- strategy – fly there
- tactic – book my ticket
To put a marketing slant on this another example might be:
- objective – achieve £1,000 of sales
- strategy – sell 10% more of widget A to customer group 1 (Cumbrians)
- tactic – attend event in Cumbria in June
When doing your marketing planning it can be very tempting to dive straight in to deciding what marketing activities you want to spend your time and money on in the coming year.
However, to do this runs the risk of you being very busy and working very hard while not achieving what you set out to at the beginning of the year.
Never a good thing for a start up business.