What is the difference between a tactical plan and a marketing plan?
A marketing plan assesses a business holistically in order to determine and address turnkey challenges and goals. A tactical plan is an outline of marketing activities such as some print ads, a digital campaign or SEO campaign, set out over a duration of weeks or months to address specific objectives identified within the marketing plan (such as an increase in sales or lead conversion). In short, the marketing plan is the “thinking” and the tactical plan is the “doing”.
How much should I allocate to my marketing budget?
On average companies contribute around 5% of total revenue to the marketing budget. How it breaks down will depend on the business goals for that year. A marketing plan help to determine the prioritisation of spending.
What is outbound marketing versus inbound marketing?
Outbound marketing is traditional marketing in which you pay to run an ad that interrupts the media channel a target audience is engaged with (such as a TV ad, flier, print ad or digital banner), whereas inbound marketing is non-traditional marketing that draws customers in, such as a blog post, CRM initiative, loyalty program initiative, monthly email (that they’ve subscribed to), social media post etc. Both have their advantages and disadvantages and are most powerful when used in tandem.
What is a branding strategy, and do I need one?
A brand strategy is responsible for particular functions of a strong and competitive brand pertaining to design, perception, purpose, value, USP (unique selling proposition) and brand consistency. The key to a successful brand is a clear definition of what it does, why it does it and for whom it does it. Without a defined brand strategy, a company’s brand image will lack clarity, its employees might be unmotivated, and the brand essence will be hard to communicate to customers.
How often should I audit my branding?
Every so often a company must review its brand image and determine whether it is still relevant and representative of its values. Rule of thumb: at the 5-year mark is typically when design trends change, new technologies emerge, fresh competition infiltrates the market and consumer attitudes shift. This is a good time to assess how a company’s existing branding measures-up.
What marketing’s tactics will give me the best ROI?
We recommend that ROI should be determined at the tactical level because it is hinged on the goals and objectives outlined in the marketing plan, as well as what ‘success’ looks like. Learn more by reading our blog post on ROI.
What is the benefit of hiring an agency as opposed to having marketing in-house?
The power of using a marketing agency lies within collective thought; an organisation will have multiple experienced strategic & creative minds mulling over their key business challenges as opposed to just one or two internal people. This allows for objective ideas and unbiased decision making.
Can I manage my own social media marketing, or should I hire someone to do it?
Social media marketing isn’t as easy as some people like to think; you are restricted by forever changing algorithms, profile preference settings and constant noise made by other marketers that receive high exposure. It also requires an understanding of consumer behaviour. Strategic planning is essential. It is best to speak to a marketing professional for advice before launching a social media campaign.
Is marketing to businesses different from marketing to consumers?
Yes. B2B and B2C require a distinct marketing direction as each group has unique motivations and barriers. For example, B2B targets a customer who is making a purchase out of the interest of an entire organisation in order to accomplish business goals and mitigate business problems. In contrast, B2C targets a customer who making a purchase they feel good about, provides convenience and will (conceivably) improve their life.
What future marketing trends are on the rise?
– AI, Geo-location, branded video; technology that evokes all the 5 senses through touch, sight, taste, smell and sound.
– Customer experience; how brands make customers feel throughout the entire sales funnel is the new battleground