What is Strategy?
Like it says on our home page, “we are a B2B marketing and public relations firm that uses strategy to get results based on how you define success.”
But what is strategy? And how do we apply it to get the results our clients expect?
Stacy Wood, Marketing Works Vice President and Lead Strategist, defines strategy as “how to get what you want based on your definition of success.” Simply put, strategy is the smartest, most efficient method for achieving your business goals; it serves as the framework for all decision-making.
To develop strategy for clients, we use the Marketing Works-360° IDEA process; the “IDEA” stands for “Identify, Define, Engage, Assess.” We utilize this process to help our clients achieve their business goals by defining a clear-cut path to get them there.
The first step of the process, “Identify,” begins with a discovery session. During the discovery session we work with the client to define their specific business goal. In other words, what does success look like to them? Is it increased sales? Increased employee retention? Establishing the client’s goal is imperative for determining how to get them there.
Once the goal has been defined we take a look under the hood – what makes the company tick? Before we can work on a strategy we have to first understand what makes the company unique, or in other words, what differentiates it from its competitors. This involves talking to their clients, researching their industry and their competitors and examining the company from top to bottom. What we learn during this process forms the foundation of the strategy we develop.
The next step in the process is “Define.” During this portion of the MW-360° IDEA process we map out the strategy based on our research and the company’s goal and objectives. The strategy we create then serves as foundation for all future decisions. A great example of this is an interaction we had with a technology consulting client. The client wanted to purchase an advertisement in the Ohio State football game day program. After consulting the client’s strategy we were able to determine that the client’s target audience didn’t match with football and we advised them against it.
The last two steps of the MW-360° IDEA process are “Engage” and “Assess.” Engage consists of executing the strategies and tactics to accomplish the goal. A great example of this can be found in our brand awareness work with HMB, a business technology consulting firm. Assess is the measurement aspect of the process in which we analyze our results to determine if we are on track to successfully achieving the client’s goal. To see a real-life example of strategy was measure check out a case study about our work with PRIUM, a medical intervention company.
The entire MW-360° IDEA process, from the first discovery session to crafting the final strategy, is designed to give our clients a clear path to achieving their business goal – whether that’s increasing revenue or streamlining operations. We aspire to be a conduit to success in all that we do. How can we help you meet your business goals? Drop us a line and let’s get started today.
Mworks740 • January 20, 2016
Posted in these categories:Marketing Tips, Uncategorized
With these tags:strategy