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The strategic marketing process (Part 3): Implementation & Growth

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The last stage of your strategic marketing process is implementation and ongoing development for growth opportunities.

If you missed the first step to creating your strategic marketing plan, you can find it here, and the second step here.

Go further with your strategy by downloading the Strategy for Success eBook today and learn all the best tactics and tools for your 2017 marketing strategy.

Implementation

The implementation of the strategic marketing plan involves several phases:

  1. Finalise the strategic marketing plan. This includes the budget and confirmation across all parties involved. Once this has been confirmed, the final strategy should be approved and copies distributed.
  2. Establish a system for tracking and monitoring the plan’s success. Making time to review the data and make appropriate changes where necessary is one of the most important reasons for having a strategy in the first place. The system for tracking and monitoring needs to take into account what needs to be tracked and monitored, a contingency plan (if data is reflecting that goals won’t be met), and a timeline for each change made (if you make a change, you need to give it time to have an effect). Tracking and monitoring will ensure that any deviations from the plan are righted.
  3. Schedule monthly strategy meetings with review of the reports being tracked. It’s not enough that you track and monitor the plan’s successes and failures, but continual review in strategy meetings – especially for those marketers who haven’t done this before – is needed to ensure all objectives are being met.
  4. Execution of the marketing plan. This stage will be as involved as the creation of your strategic marketing plan. Each phase will need to be mapped out in terms of tasks, resources and management. Ensuring that each task is completed is crucial for the success of the marketing plan.

Evaluation and development for growth

The final stage of implementation is a stage in itself. This stage involves the review of your strategic marketing plan for success and growth opportunities. This is another of the most important elements when developing a strategic marketing plan because it observes any deviations to the plan, how/if these were addressed, it also opens up opportunities for potential growth in the future – for example if one channel was providing your marketing and sales team little or no leads, that opens up the possibility to redirect budget and resources to a new channel or even to strengthen an existing channel.

A few ways to evaluate the effectiveness of your strategic marketing plan include paying attention to your goals, which should be anchored on:

  1. ROI
  2. Sales numbers
  3. Customer feedback and engagement
  4. Reach
  5. Alliance growth
  6. Sales team feedback
  7. Competitor response

Want to get ahead on your company's strategy? Download The Strategy for Success in Today’s Market eBook for the best tips on getting found by your ideal customer.

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Topics: Marketing, Strategy