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No matter the role you choose or have chosen in your marketing career, it’s helpful to understand what are the major components of a marketing strategy. Let’s dive into the answer.
The importance of marketing strategy
Marketing can be a field where teams just do and do and do. Run another campaign, crank out another blog post or chase the latest TikTok trend. And some of that can work and does work, but given the amount of tasks that could be done, it is so important to have a marketing strategy in place. That’s why it’s good to be able to answer what are the major components of a marketing strategy? And it certainly includes understanding the customer, the channels and the workflows. But it also must include a high-level marketing strategy that outlines:
- the goals
- what we’re trying to accomplish
- and what it takes to get there – this quarter and eight quarters from now
The trick here is to have a good mix of short-term and long-term objectives. For example, you can drive some quick results with certain paid campaigns. You can also drive results with organic content initiatives, but they usually take a little bit longer to develop.
What exactly is good to understand for everyone considering a career in marketing? And as a part of a useful marketing strategy. Let’s discuss the major components of a marketing strategy here.
The customer
Probably the most important piece to learn for everyone on a team is to understand the customer. Who are they, what problems do we solve for them, and what kind of content is relevant to them?
Some teams already have flushed-out customer profiles that explain who the customer is, what they know about them, and so on. That’s great if that’s the case and as you are joining a new team, this is a good topic to ask about.
Even if they don’t have a well-documented customer profile yet, it’s highly recommended to create that. The worst customer profiles are the ones that exist only in some people’s heads. “Oh yes, we know our customer.”
Understanding the brand story
To create an efficient marketing strategy, it’s essential to understand why the brand exists and what problem it’s actually solving for those customers
From there, it’s good to understand the different levels of that story:
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- The elevator version
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- Different highlights for different customers and for consumers in different parts of the funnel.
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- The in-depth version and what the company does specially.
Telling the brand story correctly also means we know what words and what details will resonate with our target audience.
Some brands – even successful ones – don’t have their brand story as well defined as it could be. Learning how to determine and formulate a brand story can be a differentiator in the market.
The channels
What marketing channels currently drive the best results can and does change, which is why a good strategy determines the priority channels and finds the right mix of the following:
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- Website (SEO – all parts of the funnel)
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- Email marketing
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- Social media
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- Short-form video
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- Direct mail
- Influencer marketing
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- And more
The importance of a good website
Many businesses struggle to keep their websites up-to-date. Some claim they’re too busy, while others rely on outdated designs. But the website plays a crucial role in marketing strategy and overall business success. Jeremy Woolf, chief marketing strategist, explains on “The Business Storytelling Show” why companies often neglect their websites.
“I think it’s ignorance. I think it’s a lack of understanding of the role the website plays in the marketing mix.”
“The website plays a critical role,” Jeremy says. “It’s driving a transaction all the way from top of funnel through to that point of purchase, and then, theoretically, to create loyalty beyond the purchase.”
Keeping your website fresh isn’t a one-time project. It needs ongoing attention and updates. This approach serves multiple purposes: it keeps your content relevant for returning visitors and boosts your search engine rankings.
“For no other reason, do it because Google will reward you,” Jeremy advises. “You want to be on Page One, you want to be referenced or connected to high-value keywords, and you’re only going to do that if your website is dynamic and updated.”
Consumer expectation
And the modern consumer expect more from websites. They want to understand not just products and services, but also your company’s values and purpose. This information helps them make decisions and build a connection with a brand.
Incorporate SEO early. Research keywords and integrate them into your site architecture and content plan.
“You need to be conforming, to some extent, to the language of your buyers,” Jeremy said.
Ensure your visual design aligns with your brand identity and messaging. “I want to make sure that I’m talking to and partnering with a designer, and when we’re going through discovery, we’re working in tandem,” Jeremy says.
Develop with functionality in mind. Work closely with developers to create a site that’s both visually appealing and user-friendly.
This collaboration helps avoid common pitfalls in the development process.
Regularly update and maintain. Keep the website fresh with new content and features to engage visitors and improve search rankings. This ongoing effort is crucial for long-term success. By prioritizing the website as a key component of a marketing strategy, you create a powerful tool for attracting, engaging, and converting customers. A website is more than just a digital presence – it’s the foundation of your online marketing efforts and a crucial driver of business success.
The workflow
A lot of what I discuss in “Is marketing a good career?” comes back to implementing the workflow. But the design of the workflow happens when we construct the marketing strategy.
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- Who does what?
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- In what order?
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- What are the checks and balances?
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- Which pieces can be automated?
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- When do we collaborate and with whom?
Those decisions have to be made in the strategy phase – even when we adjust them later. Without this, it’s like a football team saying they will win by passing the ball. But they still have to decide who exactly will throw the ball, when and to whom.
Tie in with other parts of the organization
The marketing strategy also needs to include how the team works together with other parts of the company.
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- How do leads get passed to sales? And what’s a lead anyway?
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- What marketing content do other parts of the company need and how do they request or retrieve it?
Measurement as a major component of marketing strategy
Marketing metrics can be overwhelming, especially for small business owners. With so many numbers to track, it’s easy to get lost in data that doesn’t drive real business results. But measuring the right metrics is crucial for success. Howard Wolpoff, chief marketing strategist at Profit Master Business Solutions, emphasizes on “The Business Storytelling Show” the importance of actually measuring your marketing efforts.
“If you’re just throwing things out there and saying, ‘Okay, let’s try this. Today’s a new day. We’re going to try something else,’ you’re not going to have any idea of what is working,” Howard explains.
This approach is particularly challenging for small businesses and solopreneurs. With limited time and resources, they need to focus on metrics that truly matter. Howard recommends using the SMART methodology: specific, measurable, actionable, realistic, and timed objectives.
But how long should you stick with a strategy before giving up?
Howard suggests setting clear goals and timelines. For example, if you’re doing video content, you might aim to increase followers by 10% or reach 100 views per video. If you’re not hitting these targets after a few weeks, it’s time to reassess or seek expert advice. Content metrics like views and followers are important, but they’re not the whole story.
Howard stresses the need to align metrics with your overall business strategy. Are you trying to drive website traffic, generate phone calls, or increase sales? Your metrics should reflect these goals.
The right mix
For small businesses, the mix of organic and paid marketing strategies often depends on budget. If you have significant funds, you can invest in various ad types and manage them effectively. This paid traffic can also boost organic results. However, if your budget is limited, focus on organic strategies:
- Optimize your website and content for search engines
- Create high-quality blog posts and videos
- Maximize your Google Business profile
- Build backlinks to your site
Many businesses have unique opportunities in digital marketing. Voice search optimization is becoming increasingly important as people use voice assistants to find services. Howard also recommends listing your business in online directories, which can improve your search rankings and visibility.
With so many marketing channels and strategies available, small business owners often feel overwhelmed. Howard acknowledges this challenge.
“That’s why there’s chaos and stress in all these small business owners who don’t understand how to market their business.”
The key is to develop a clear strategy and measure your efforts consistently. Don’t get discouraged if you don’t see immediate results.
As Howard points out, overnight successes are rare. Instead, focus on steady growth and improvement over time. The most effective marketing often comes from showcasing your unique personality and expertise. Whether it’s through videos, social media, or industry involvement, find ways to let your business’s character shine through.
By focusing on the right metrics and consistently measuring your efforts, you can stop guessing and start making data-driven decisions to grow your business.
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