How secure is your future (STRATEGIC) revenue stream?
In many businesses, marketing is confined to bursts of activity in support of current sales activities, with the hope it helps deliver immediate revenue – tactical revenue.
Instead, marketing needs to be focused on delivering strategic revenue – revenue that will be coming from what your business plans to sell in the future.
When marketing is tactical it is, for the most part reactive, for example, when the sales department requests a brochure or that the marketing department publish a burst of posts on social media, perhaps accompanied by a Blog. The business considers this as a monetary cost and/or a cost in resources.
Let’s consider, for a moment, if you had a marketing resource that could:
Strengthen your company’s market position
Increase your market share
Help deliver strategic revenue, and also
Deliver tactical revenue
Then you have a resource that is substantially contributing to increasing the valuation of your business.
For this to happen, marketing needs to be elevated to a Board or senior executive function and become strategic - part of the planning process where you decide where your business is going achieve future growth and sustainable revenue. Strategic marketing is therefore the responsibility of business leaders to direct and oversee, just as it’s your responsibility to direct and oversee the company’s business plan.
Perhaps the most useful five minutes you could spend today, is to ask yourself, “Is our marketing strategically planned to support our business plan and increase our business valuation?”
Better still take 10 minutes to assess your marketing performance - 4,500 business leaders have.