The Meaning of Strategy
For 10 senility I gladly taught the prompt direct marketing course at Unspoiled York University. Every moment one of the three hardest things to amuse across was the perception of Strategy. The Meaning of Strategy
Also, a lot of our clients never did grasp the intellection. One of them, which shall abide mysterious – my lips are sealed – created an eccentric hybrid they called ” Strategic Cold “.
Strategy Is The Packed Deal.
Strategy is measure of a projection, side three of a typical marketing treatment. The primeval two parts are Contact and Just. Only when those two are in longitude can you open to grow the Strategy.
A gigantic barrier to developing a strategy is that crackerjack ‘ s a installment four, Tactics. People confuse Strategy and Tactics; their subconscious does it to them now Tactics are effortless. Since strategy is hard, most people escape to strategic and subtactical issues cognate budget, gifted, color, font, slogan.
Cast up ” Strategy ” in Merriam – Webster.
If you inspection strategy up in the dictionary, you ‘ ll good buy something approximating this: the science or art of unity and conducting a bloodshed or a military pilgrimage; a carefully devised scheme of pipeline to fulfill a goal, or the art of developing or carrying out like a way.
At NYU we even now with a simpler avenue: Generals perform strategy; everyone deeper does tactics, based on the Generals ‘ strategy. And efficient ‘ s a trickledown chain reaction: your boss ‘ s strategy becomes your equitable and inasmuch as on down the line. In an organization, the integral Strategy and Tactics thing is like a pyramid scheme. Strategy starts at the top among a few experts ( in theory ). People who execute the strategy develop their own mini – strategies. The Meaning of Strategy
The Meaning of Strategy
It starts with understanding the objective. What, exactly, do we want to achieve? Exactly means numbers, dollars, timelines:
” Sell 250, 000 widgets at an average price of $29. 99 in 2012. ”
” Recover 25 % ( 500 ) of lapsed customers ( 2, 000 ) by Q3, 2012. ”
” Increase average order size 10 % by Q2, 2012. ”
” Move 50 % of business to our website by the end of 2013. ”
The objective has to be realistic. If you sold only 2, 500 widgets last year with a marketing budget of $50, 000, you ‘ re not going to sell 250, 000 in 2012 without a serious increase in budget.
You can have dozens of objectives – it keeps people happy – but there Is always only one real objective and one corresponding strategic statement.
At NYU we used the example of the Trojan Horse. To make a long story short, the horse was a tactic. The objective was to capture the city of Troy. The strategy was to get someone inside to open the city ‘ s gates without the Trojans knowing about it. The Greeks undoubtedly considered a dozen or more tactics and eventually settled on the horse. After that, all the tactics fell into place.
In other words, strategy is the legendary Big Idea. And it is usually an obvious idea – once someone says it.
In marketing, especially direct marketing, there are a great many sub – strategies: testing, target audience, creative, list, offer, databasing, upsells, etc.
When we ran Ford of Canada ‘ s first – ever direct marketing program, we spent a lot of time gathering information ( Background ) and we developed an Objective based on unit sales of mid – range vehicles. Then what?
We quickly realized that we ‘ d have to build a database of car owners ( provincial registrations were – and still are – unavailable in Canada ). And that was our strategy: Build the proprietary database then stroke it. The ensuing program sold an awful lot of cars, generating bottom line revenue the company would not otherwise have earned of 14 times the marketing cost. It won a lot of Gold RSVP Awards from the Canadian Marketing Association. The Meaning of Strategy