A business plan identifies what you want to achieve for your business, while a marketing plan will look at how to achieve these outcomes.
Unfortunately, it is far too common for businesses to view marketing as a series of tactics, where the ability to measure outcomes is diminished. The danger with this approach is that often the wrong questions are being asked. For example, a business may want to increase website visitations, but fails to ask the right question in terms how do I gain value from website visitors? Who is it needs to visit my website and why?
An execution or tactical led approach to marketing also fails to encapsulate the entire customer journey, as well as the role of others who may be influencing the purchase decision. While there may be an attempt to shoe-horn a strategy into a tactic, it will still fail to understand the overall marketing approach adopted across your business.
Execution led approaches fail to understand the real definition of marketing, and the alignment it should have with the strategic direction of a business.
A strategy led marketing approach ensures there is an understanding of each of the touchpoints required for your business to interact with initial prospects right through to becoming a repeat customer. This approach provides the ability to define the overall experience that is required to achieve customer acquisition and retention, as well as the metrics required to measure tangible outcomes.
In addition, a strategy led approach understands how best to utilise marketing resources to achieve the direction identified in your business plan. This ensures that marketing outcomes are consistent with your value proposition to build the capacity of your business.
The end result is marketing that is measurable and enables you to evaluate outcomes and consider the overall return on investment.