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What is Marketing Strategy?

In our third expert guest interview we speak with Andrea Hardiman of All About the Message. This video examines the question “what is marketing strategy?” Andrea draws on 20 years of experience in marketing, working with a variety of businesses including Aviva and Heinz. She shares some of the tools she uses and her approach to marketing strategy.

One key area where we spend some time clarifying our thoughts is the difference between marketing strategy and tactics. It is common for tactics and strategy to be confused and this can create problems for a business. It is something I cover from a slightly different angle in “Doing Business Like a Grandmaster“.

Illustration of someone considering marketing strategy

Tools for Creating a Marketing Strategy

Andrea mentions several frameworks that she likes to work with. Here is a brief summary of them and the breakdown of what each acronym means:

SMART

  • Specific
  • Measurable
  • Actionable
  • Realistic
  • Timely

SWOT

  • Strengths
  • Weaknesses
  • Opportunities
  • Threats

PESTLE

  • Political
  • Economic
  • Social
  • Technological
  • Legal
  • Environmental

Watch the video to find out how Andrea uses these tools to develop and evaluate a marketing strategy.

Andrea also mentions Ansoff’s Matrix, which she finds works well together with SWOT. It can be represented by something along the lines of the grid diagram below. The further down and to the right you go, the more risk tends to increase for the business.

Ansoff Matrix

Please take a look at our other related videos on sales and customer data in our free business resources

Do share your thoughts and questions in the comments below.

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