Marketers have at least once, come across this question of why exactly do they need a structured strategy instead of just going with the flow. A marketing strategy is so much more than the overall game-plan of an organization. Be it making leads or establishing a brand, without a strategic approach, the entire process turns somewhat blunt. Let’s take a look at why exactly we need a marketing strategy.
Achieve long-term growth
A company without a strategy becomes short term focused.
On the other hand, a company with a solid strategy builds a brand in the long run which makes success a gradual journey.
For Example, during the pandemic, print media faced intense challenges. Some newspapers shut down their operations for months. However, some newspapers invested in technology moved to work from home and were able to continue their publications smoothly. This digital transformation is not just a mere task but a crucial strategy for a company that ensures sustainability and long-term profit.
Price cut/ promotions could be good tactics for gaining some edge over competitors. But to become an undisputed leader it is important to build brands than just doing business. And here comes the role of creativity. Leveraging creativity is crucial to winning the game in the long run.
During the pandemic, while ordering food from home, people were less bothered about discounts. People were more concerned about social distancing. Hence the restaurants/e-commerce platforms focused more on finding creative ways to serve the customers maintaining hygiene factors, gained more customer trust than any other businesses.
Adopting the everchanging consumer needs
Consumer evolves over time and so does a brand. A marketing strategy ensures that brands are built over time in such a way that it responds to ever changing consumer demands.
For example, the print media has a distinct readership base who likes to read long-form content. On the other hand, digital readership is more into a short form of content and videos. Hence a publisher with a solid strategy should respond to the audience demand in such ways that it entertains its audience differently in separate platforms.