As a growing company, you know you need a growth strategy to stay focused and achieve long-term success. The problem comes in not knowing where to start. You are not alone. Most founders find it overwhelming to plan a growth strategy, so they often put this critical piece of planning aside to focus on what is most urgent today. The truth is, the longer you put off planning a long-term marketing strategy, the longer you’ll be working in a reactive mode. We know that does nothing to move the needle forward toward long term success.
Along with not knowing where to start, businesses tell us they aren’t sure what marketing tactics are most effective, what partners they should work with, what KPI’s make sense, what budget to allocate, who is going to manage the execution. Do any (or all!) of these questions sound familiar?
With so many questions and so many insights to consider, a Fractional CMO can help you break down the key pieces to consider to effectively plan your growth marketing strategy for 2020.
SET S.M.A.R.T GOALS:
As a starting point, clearly setting goals will help you understand what you’re trying to achieve. As you brainstorm tactics to implement, gut checking them against your goals will help you stay focused.
When setting your S M A R T goals consider the following:
SPECIFIC goals identify what you want to accomplish and who to involve.
MEASURABLE goals gage your progress and allow you to see what success looks like.
ACHIEVABLE goals use the resources, time and budget you currently have in order to execute a realistic plan.
RELEVANT goals allow you to reflect on why you’re setting the short-term goals, confirm if they are realistic and consider if they help you to meet your long-term goals?
TIME-BASED goals set the deadlines and ensure you will realistically be able to execute within a timeframe.
TELL YOUR STORY
Fortune 500 companies are masters of storytelling and consistent with their message. They communicate the same message over and over in a million different ways. Startups can use this same strategy to find their voice and communicate their story again and again and again.
STAY IN YOUR BRAND’S SHOES
When working with startups we often hear, “I don’t think that makes sense”. When we delve deeper, it’s clear that they are considering their personal beliefs rather than the needs and wants of the brand’s target audience. It’s important to remember that your brand has a personality and it’s often different than yours. Try to stay in your brand’s shoes when brainstorming.
STAY ON TRACK
Every business is unique with different budgets, audience, competitors, timelines and goals. For all these reasons, it’s critical to ensure you stay focused on your specific goals. It’s easy to start looking for the newest trends to adopt because they are cool and trendy. But, if it doesn’t support your business purpose, audience or goals, you can easily be distracted. That is why staying focused with a strategic plan is hugely important. Identify a few key tactics and trends that align with your long-term vision and follow them closely.
One thing is for sure, planning your 2020 marketing strategy in the fall means your company will be in the driver's seat when next year rolls around. And isn’t that where you want to be?
If you understand the importance of setting a 2020 strategic growth marketing strategy now and need a little (or a lot of) help, a Fractional CMO may help. Book a meeting here with ThinkHatch to discuss ways we can support your growth. Or send us an email with your questions.