A marketing strategy involves how a company promotes and distributes a product. A marketing strategy involves long-term objectives of a company, whereas the sales strategy is more short-term.
A good strategy includes goals to be achieved. As well as multiple means of achieving them. It can encompass multiple forms of media. Or be a single tactic executed exceptionally well.
There is a key difference between marketing strategy & market intelligence. The marketing strategy is all about reaching and communicating with a target market. Market intelligence is about understanding potential buyers, competitors and the trends of an industry.
A sales strategy is more about developing relationships, trust and making deals with individuals. Again, marketing strategy is more about meeting people, getting attention, developing interest & desire.
While no hard line exists, it's in this area marketing strategy hands off to the sales strategy & skills of an organization.
A quick google search quickly shows most people confuse marketing tactics for strategies. Principles are the foundations a good marketing strategy is built on. Strategies are used guided by principles to achieve goals.
Then the tactics are how these strategies get executed. An example is the principle of letting people 'see for themselves' how a product works. Then the strategy might give a free trial or free demo.
Then the tactic could be setting up ads on a specific social media platform.
Lead Response Management
Responding quickly to your leads will boost your sales, build credibility, and improve customer satisfaction. However, many businesses tend to overlook the importance of responding to their leads. Businesses don’t like seeing their leads go cold. Customers don’t like to be kept waiting. So how can you make sure you can promptly follow up with your leads?
Well, if you want to improve your lead response times, then lead response management is the answer to your problems.
Hope is not a strategy.
Many just keep busy or do the latest trend. Hoping for results. Trusting if they 'grind it out' they'll get there eventually. A effective marketing strategy puts the odds of success in your favour.
You can’t monitor your inbox 24/7… so how can you make sure you don’t leave leads hanging?
Here are some tips and best practices in lead response management:
- Train your team on responding to leads.
- Invest in software and tools to automate follow ups.
- Create shared inboxes so your entire team can access it and collaborate.
- Come up with incentive programs for employees to encourage fast responses.
- Indicate your average email reply time so that your leads will know when to expect a reply from you.
- Personalize your responses so that they are authentic.
Marketing Strategy Frequently Asked Questions