Strategy has become a buzzword in recent times, and although this has enabled many to discover the advantages of a strategic approach, it has also left many confused as to the appropriate definition of the word and the subsequent actions to take.
If you’re one of these people, you’re certainly not alone which is why we wanted to shed a little light on the topic. To start, let’s broadly define what a strategy is – it’s a plan of action designed to achieve a long-term or overall aim. At the Identity Marketing office, we like to affectionately refer to strategies as game-plans.
For a game plan, there are three fundamental requirements.
Requirement 1: An objective
This is essentially the reason behind your need for a strategy/game plan.
Your objective can be something specific, or something broad depending on your unique circumstances and target.
An example of an objective: 30% increase in market share (specific) or agency growth (broad).
Requirement 2: Break down your objective.
Objectives on their own can be overwhelming, especially if they’re a broad objective. To conquer this, you will need to break the objective down into smaller, manageable and measurable components or tasks.
For example, if your objective is to grow your agency you might break down your objective into the following categories: brand awareness, recruitment, internal processes and acquisition.
In addition to breaking down your objective into smaller tasks, its recommended to set parameters around how you will measure the progress and success of each of the categories/small tasks. For example, if one of your small tasks is brand awareness, how will you define progress in your market?
Requirement 3: Resources and Actions
Once you have broken down and categorised your objective into smaller, manageable tasks you will need to realistically consider your resources to establish the action you will take to fulfil your small tasks.
For example, if recruitment is one of your small tasks, the actions in your game plan may include the addition of a careers page on your website, targeted social media ads aimed towards prospective employees and a recruitment kit that establishes why your agency is an ideal choice for a career move.
And those are the three fundamentals of creating a game plan, but before we sign off on this topic there are some other tips to remember:
- As a rule of thumb, when it comes to your marketing and achieving your goals, you need to be ensuring that every marketing activity aligns with achieving your objective. This means you should work out what you’re doing, why you’re doing it and when you’re doing it. If a marketing piece doesn’t align, establish what would better suit the needs of your game plan.
- Consider your resources realistically. You may have big ideas around a grand messaging campaign, however your marketing team may not have the skills or programs necessary for such a marketing project.
- Not everything is guaranteed to go to plan in your game plan, and in this case it’s great to establish some plan B activities to keep yourself on the path to progress.
If you’re unsure where to start, or you’re looking for advice about marketing that aligns with your specific objectives, get in touch with us. We specialise in working with agents and agencies to develop and actualise strategies.