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What does 'marketing strategy' actually mean?

Discussion in 'General Marketing' started by MickDee, Mar 15, 2021.

  1. #1
    Hey,

    I'm struggling to actually understand what strategy is / looks like.

    For example if someone asked me to come up with a marketing plan I get what that is, but if someone asks what is the digital marketing strategy or come up with a strategy, I don't get how it differs from the plan? I have Googled and read many web pages that go into the detail of building a strategy document etc but it still doesn't make sense to me. Can someone explain how a digital marketing strategy differs from digital marketing plans? I'm sure this should be clearer to me than it is! :)

    Thanks.
     
    MickDee, Mar 15, 2021 IP
  2. susiparker

    susiparker Greenhorn

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    #2
    A marketing strategy includes using different techniques, marketing automation tools (LinkedCamp), software to increase the reach and grow your business. The major step of creating a marketing strategy is to learn more and more about your customers and understand their needs.
     
    susiparker, Mar 17, 2021 IP
  3. lyna LRB

    lyna LRB Peon

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    #3
    Marketing strategy is a bunch of techniques and precesses such as social media, automation tools,websites,seo etc in order to grow the business or to get the traffic needed , first of all, analytics need to be done either using google analytics or semrush for exemple to annalyse your conpetitor's movement and strategy and there for you'll get a strategy idea and keywords strategy and what you should do simply !
    the most important is to know your customer and understand the need and do good analytics and survey.
     
    lyna LRB, Dec 10, 2021 IP
  4. VortexAlpha

    VortexAlpha Member

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    #4
    I would say that digital marketing strategy includes all activities and plans related to digital platforms. For example, quality digital strategy should include things as thorough keyword research that should be done for SEO optimization and content modification, also here you should also do some kind of competitor analysis to see how your competition is doing online, how high do they rank for the same phrases that you are targeting, how their online presence is, you could also do a SWOT analysis for this. On the other hand, digital strategy should include some kind of a content plan with details where to post, advertise and place your offer, which networks and platforms to use, how frequently, you should make a calendar of activities, and to include a budget planning as well. There are a lot of things that fall under this category, there isn't some determined scheme, depending on your specific needs.
     
    VortexAlpha, Dec 13, 2021 IP
  5. Daniel165

    Daniel165 Member

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    #5
    I would like to answer the question Marketing strategy is a process that allows companies to concentrate its limited resources on the most promising prospects for increased sales and a lengthy competitive advantage.
     
    Daniel165, Dec 14, 2021 IP
  6. Đặng Văn Bình

    Đặng Văn Bình Member

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    #6
    The answer is fairly general, but correct. The development of such a strategy allows you to evaluate its effectiveness and to react rather quickly if some part of it does not work.
     
    Đặng Văn Bình, Dec 15, 2021 IP
  7. Ironfury

    Ironfury Greenhorn

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    #7
    The combination of methods which you apply in order to reach the goals which you have set for the development of your company/online business.

    Marketing strategy is one of the most, I guess is the only thing which can help you to increase conversion and sales. If you want to earn more money, then you can't do it without a proper marketing strategy. These days people underestimate the necessity of marketing strategy like they just place an ad somewhere and it's okay. No, it's actually not okay.
     
    Ironfury, Jun 24, 2022 IP
  8. Erin T

    Erin T Peon

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    #8
    Simple explanation of Marketing Strategy:
    Mr. A doesn't know about my product.
    The question now is how can I introduce this product and convince Mr. A to petronize me?
    This is the spot where marketing strategy comes in, so which ever way you used to achieve you goal is called marketing Strategy.
     
    Erin T, Jun 26, 2022 IP
  9. Gracia_2

    Gracia_2 Peon

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    #9
    A marketing strategy is a long-term plan for attaining a company's objectives by figuring out how to best serve customers and forging a distinctive competitive edge. It covers every aspect, including choosing which channels to employ to reach your target audience and identifying who your clients are.
     
    Gracia_2, Nov 1, 2022 IP
  10. Double-Dome

    Double-Dome Peon

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    #10
    A digital marketing strategy goes beyond SEO and works toward getting your business’s name known in the online community. You can work on local SEO if your business is not just virtual or nationwide. If you have a physical location for customers, local SEO is important. Your strategy will help build your reputation and use social media to grow your contacts and clients or customers. The more people that know about your business, the more your business has the potential to grow.
     
    Double-Dome, Nov 4, 2022 IP
  11. Randall Magwood

    Randall Magwood Active Member

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    #11
    A marketing strategy IS a marketing plan. You lay out a strategy of where you're going to market, and how you're going to do it.
     
    Randall Magwood, Nov 30, 2022 IP
  12. Warner Williams

    Warner Williams Active Member

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    #12
    I think maybe we should get the basics down before we define digital marketing strategy and digital marketing plan.
    Marketing 101
    What is a plan? It is an orderly outline of the tasks and functions included in the process of a given goal or objective. For example, a business plan outlines the who, what, where, and when of the business.
    What is a strategy? This is the process of selecting techniques or methods to achieve an existing plan or objective. For Example, what ad formats are better able to reach senior citizens? Strategy - According to AKS, 61% of senior citizens read BING fairytales on weekends. Use contextual ads that show up on BING Fairytales on weekends.

    What is a digital marketing plan? Digital marketing is an orderly outline of the who, what, when, and where you plan to market your business online. the plan will include forecasts, investments, ROI projections, risk details, and a calendar of tasks and events.
    Example: Digital Marketing Plan for Golden Goats (Please note that this is not a business plan format)
    Who: target audience, target regions, and other target dynamics
    What: product/service description as repackaged for sale. example "Asian Golden Goats, Speaking Golden Goats, Magic Golden Goats"
    Where: targetted media source - social media, news media, search engines, forums, etc
    When: marketing campaign length, duration, or frequency. For example, Public holidays, weekdays,

    What is a digital marketing strategy? This is selecting the marketing techniques and formats that will be used to achieve the desired objective
    The decisions are based on research and proven trends. For example, how to effectively sell 23,000 golden goats per month?
    Statisticstical data: Canadian golden goat market 3.5 million 2021, US golden goat market 8.7 million 2021, Mexican golden goat market 18.9 million 2021.
    Digital Marketing Strategy: Main ad market Mexico, secondary market US. The next step is to find data on the surfing habits of Mexican Golden goat merchants.

    I hope this was useful.
     
    Warner Williams, Dec 2, 2022 IP
  13. LuisaLu

    LuisaLu Peon

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    #13
    For me, a great example of a marketing strategy is Sephora. In the Canada and USA beauty market, Sephora has chosen a customer retention strategy through a profitable affiliate program. The tier system, which is used to differentiate customers, gives the brand an element of exclusivity. About 80% of sales are made by current members of the loyalty program - this makes the business as stable as possible. Marketing studies have shown that four-fifths of customers use a smartphone to select or order products. That's why free Wi-Fi is offered in brand stores, as well as a branded app with an attractive and clear interface
     
    LuisaLu, Dec 2, 2022 IP