Recognition Marketing - Put Marketing Strategy First, Everything Else Next

Getting It Backwards Is Dounright Stupid

By David Miranda

All too often, firms get their order of priorities wrong with dangerous consequences for the business driven by budgets instead of strategy.

Let's use a travel example. Say you have a airfare budget of $1,000 for a weekend getaway so you go to the airport and say to the ticket agent, "I have $1,000. How far can I go for that?"

This is exactly what many firms do. They have a budget and say to their agency, "How far (or how much) will this get us?" Without a marketing plan and clear strategy, this is called stupid.

It is the marketing strategy that dictates (or should dictate) everything. The budget should be developed and allocated to implement the strategy. This approach assures that marketing dollars are wisely invested and prioritized. And if the budget is small, all the more reason for marketing strategy to lead the process.

Firms make two major mistakes without a strategy - they spend based on what has worked historically (driving using the rear view mirror) or they "me-too" spend (watching what everyone else is doing and follow suit).

If you are committing marketing dollars without a marketing plan and strategy, you are wasting your time and squandering your money.

Put marketing strategy first, everything else is next.