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Marketing strategy

Resilient Strategies

If 2020 showed us anything, for me specially working on marketing, was to have resilient strategies.

What do I mean by resilient strategies? Resilience by meaning is “the capability of a strained body to recover its size and shape after deformation caused especially by compressive stress”. – Merriam Webster Dictionary

So how does resilience apply to a marketing strategy? I was used to having annual plans with KPI’s that needed to be measured on a weekly basis, so we could see if we were on track to achieving our monthly and yearly goals, and when things were not on track, we could act on time. Then March 2020 happened, and what happened to our plans, objectives, and goals? They shifted like never before, and we were on survival mode.

For maybe the first 2 months of the pandemic our marketing strategy was to survive and to adapt to what the market needed. But after going back to check on our annual plan, we could see what types of objectives could still be met during the year, given the conditions we were living. And that is when I realized our marketing strategy needed to be flexible and be able to adapt to what each week brought. The strategy became a hybrid between all the new things that we were doing, and the things that we needed to keep.

So how to make a resilient marketing strategy? I believe it needs to be a mix of different objectives. First, ask yourself or your company what are the strengths of the business that are non-negotiable, and will still be a priority going forward. And second, focus on the new things that your business is doing, and the opportunities that you have encountered that your business model can meet. Using a mix of these two types of objectives, you can organize a better marketing strategy, create KPI’s for them, and allocate the resources according to the importance of both. My advice would be to focus 80% of your time and resources on the new (markets or products) that you are trying to conquer, and 20% to what you are going to keep doing, that was done before, but maybe on a different approach. This because you probably already know what to do with the familiar, but the new will need a lot more research and time to develop the new.

What will a resilient marketing strategy bring? Peace of mind! If you are like me you and like to have plans and a roadmap on what to do, and what comes next, creating a flexible and resilient marketing strategy will help you navigate the uncertainty with more peace of mind.

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andreaizas

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