Start With Strategy

YUnique Marketing Insights

Whether you’re looking to grow, scale or exit your business, preparing for what’s next starts with strategic clarity. At YUnique Marketing, we’re on a mission to give ambitious SME business leaders the strategies to unlock their growth potential and build more valuable businesses.

Is your marketing performance where you need it to be, or could it be sharpened up to better support the achievement of your business objectives? If results aren’t where you need them to be, don’t just do more of the same marketing, build the right marketing strategy first.

In today’s rapidly changing business environment where we must navigate change, innovate, disrupt, and transform to ultimately stay relevant and grow, it’s more important than ever for business leaders to hone their strategic thinking skills.

A wholesale rewrite of your strategy may not be needed but a considered Strategy Review and refresh could prove invaluable and lead to many extra benefits beyond just raising marketing and sales performance. This can include improving employee engagement and productivity, increasing efficiency and effectiveness, and boosting the bottom line.

With so much change surrounding us, you may well be starting to discover that you, your customer or your market has evolved and there are some revisions needing to be made to your plan. Before you jump to revising tactics, time spent revisiting your strategy first is highly advisable to give you the confidence you need that you’re making the right strategic and tactical adjustments.

All too often, the stage of strategy development can be rushed or neglected once completed; no surprise then when results falter and growth stagnates as competitors take the lead. Just doing marketing without taking a strategy-first approach is a guarantee of failure. Setting the strategy, but not revisiting it as the business evolves and the market shifts is equally disastrous.

Savvy entrepreneurs and business leaders with ambitious growth plans are typically the ones who invest the appropriate time in business planning, take a strategy-first approach, value marketing within all stages of strategy development, and align budget and resources to support the implementation of the strategy.

They are the ones we see become unstoppable.

So, if you’re needing to optimise your resources and maximise your return on investment, take a leaf out of our strategy development playbook and review your strategy before making any shifts in your plan.

Reset and start by asking “Where are you today? Where do you want to be? And what’s holding you back?” Involve your key leadership team in this discussion and use this as an opportunity to align your understanding and goals. Ask more questions to tease out the reality of your situation and stress-test your existing strategy.

QUESTIONS TO ASK

1. Do you feel the strategy is still fit for purpose?

2. Does the strategy comprehensively address your key audiences and stakeholders?

3. Does the strategy offer flexibility and stability?

4. Does the strategy leverage market and proprietary data and insights?

5. Is the strategy fair and unbiased?

6. Is your whole team on board with the strategy?

7. Is there an appropriate plan to implement the strategy?

STRATEGIC FRAMEWORK

To refine your strategy, go back to basics and remind yourself of your existing ‘Strategic Framework’ and re-examine your ‘Seven Ps of Marketing’. Consider your ‘Principles’ too. Each of these may need refreshing, and sometimes small changes can make a big difference.

STRATEGIC FRAMEWORK

• Mission

• Vision

• Values

• Purpose

SEVEN Ps

1. Product

2. Price

3. Promotion

4. Place

5. People

6. Packaging

7. Process

PRINCIPLES

• Specialisation: Client, product and market niche and expertise

• Differentiation: Competitive advantage and USP

• Segmentation: Ideal client personas and buying readiness

• Concentration: Alignment of resources and budget and focused efforts

EMERGING TRENDS

Consider also what the ‘Emerging Trends’ are that could affect your business, your clients and/or the market you operate in. They could become potential crisis points or growth opportunities for you. These extra perspectives need to be factored into your strategic thinking, to help you redefine your strategic direction and aid decision making to future proof your business and ensure success.

• Geopolitical shifts

• Supply chain disruption

• Tribalism

• Responsible business, ESG and CSR

• World of work transformation

• Changing buyer behaviour

• Trust erosion

• The Metaverse. AI

• Cryptocurrency. Web 3.0

IMPERATIVES

In completing this Strategy Review, you may identify some ‘Imperatives’ to work on further. They’ll serve as enablers to help you strengthen your offering and value proposition, deliver optimal customer experience, and increase your business value.

• Clarity of message

• Relevant watering holes

• Pitch to buyers

• Surprise and delight

• Plug skills gaps

• Develop valuable assets

• Document processes

• Set realistic targets

• Cash flow is king

• Plan with the end in mind

Don’t forget to ensure the whole organisation is with you; each member of your team will need to understand the role they each play to ensure the refreshed strategy, when executed, becomes your driver to success!