Dictionary

Marketing strategy

“A company's long-term choice of which customers to target, what value to promise them and how to reach and win them. Campaigns and individual tactics, such as posting or advertising, carry it out.”

Why marketing strategy matters to a first-time founder

Without a strategy, marketing becomes a list of activities, such as posting, advertising and attending events, chosen because they are visible rather than because they reach the right buyer. A clear strategy names the customer, the promise that matters to them and the path from stranger to buyer, so you can judge every tactic against it. That stops a small team spreading time and cash across channels that never produce paying customers.

Examples of marketing strategy

A founder decides the buyer is a freelance designer, the place that buyer already looks is a designers’ Slack, and the next step is a paid month chasing one client. That is a marketing strategy. “Be on social media” names a channel and leaves the decision unmade.

Common misunderstanding

People confuse a marketing strategy with the marketing mix, or with a list of campaigns. The marketing strategy is the approach. The mix is product, price, place, and promotion working together. Campaigns are what you run this month inside that approach.

When to use it

Write the marketing strategy down before you spend serious time or money on reaching people. If you cannot name the customer, and the path from stranger to buyer, you are not ready to pick tactics.