Strategy. A word that ricochets around boardrooms like a pinball in my favourite arcade game. Once my go-to move in a heated family game of Uno, this term has infiltrated the marketing mindset morphing into a catchall that can, paradoxically, mean everything and nothing all at once.
But why has this term become so ubiquitous, and yet so profoundly misunderstood?
Strategy is having its moment
There’s no escaping it. The air is thick with the promise of ‘strategic planning’ and the allure of ‘strategic marketing’ initiatives. Yet, ask a room of professionals to define strategy, and you’re likely to be met with a cacophony of well-intended but head-scratcher responses.
It’s a term that promises so much. However, despite its popularity, there is a significant challenge: the true principle of what strategy entails.
The result is a business environment where the importance of strategic thinking is acknowledged in theory but often diluted in practice.
This is a cycle we’re all too familiar with. Think about other popular terms such as ‘innovation’ and ‘synergy’, which have all had their moment of overuse and under-specification.
It’s not uncommon that powerful concepts, once clear in their intent, become so overused that they lose their edge. The challenge, then, is to reclaim strategy from the brink of buzzword oblivion, refining its understanding and application so that it once again stands for impactful planning designed to achieve a long-term goal.
Talking strategy
It can often feel like the strategy of being strategic is to say ‘strategy’ enough times until it sounds like you know what you’re talking about, and you’re met with a room of nodding heads. (*Raises hand* guilty! Surely, we’ve all been there, right?)
Tactics versus strategy: the marketing mix-up
It would seem that at the heart of the strategy epidemic is a fundamental misunderstanding of what marketing strategy is. So let’s take a step back.
Tactics? They’re the boots on the ground. The actions we take to attract and engage with our audiences. Think about those beautifully crafted articles, social media posts, website content, and the emails you send out into the digital void hoping for a bite. Essential? Absolutely. But they’re not the strategy; they’re its kids.
Strategy. Well, that’s the master plan – the blueprint that guides which tactics we choose. It’s about knowing your audience like the back of your hand and carving out a unique proposition. It’s conducting deep market research and understanding customer behaviour and market trends to make informed decisions. It’s where creativity meets analysis, intuition crosses with data, and vision is met with actionable plans.
Let’s just say ‘strategy’ is the secret ingredient, the KFC of the corporate world, the Colonel’s secret recipe that frustrates the competition, drives growth, builds brand value and, on a good day, can even sway consumer behaviour.
Suffering from Strategic Overload Syndrome (SOS)?
Have we stumbled into the era of Strategic Overload Syndrome (SOS) – a time when distinguishing between genuine strategic moves and everyday decisions feels like finding a needle in a haystack?
The allure of strategic thinking often blinds us to the dangers of Strategic Overload Syndrome, and this can wreak havoc on a business’s ability to make effective decisions. Sometimes the sheer volume of supposed strategic choices can overwhelm decision-makers, leaving them unable to commit to any course of action.
Not only can this hinder progress but it can also create a culture of indecision, impacting confidence and trust within the team.
And let’s not forget the impact on resources and cost to the business – strategic overload frequently manifests in the misallocation of resources. When every project, no matter its size, is branded as ‘strategic’, resources are spread thin, diluting the impact of the real winning moves.
An article from Harvard Business Review (Eliminate Strategic Overload) describes the challenges of strategic overload and how to address them.
Quality over quantity – time to embrace simplicity?
It’s important for leaders to be selective about which projects they choose to pursue, assessing the potential impact of each initiative and prioritising those that align closely with the business’s core objectives. This is no easy task. Simplifying strategy involves making tough decisions but it helps to focus effort and drive more meaningful results.
By setting clear priorities, leaders set the tone throughout the business, making it easier for teams to focus on what strategy truly matters.
In the world of professional services marketing, the term ‘strategy’ isn’t a term to be thrown around lightly and we should give it the weight it deserves. This key concept forms the very backbone of many successful marketing campaigns, aligning our actions with overarching business goals.
Reserve your power moves for game-changing impact
Not every decision warrants a strategic summit; treating every minor choice as a pivotal strategic moment can dilute the real power of true strategic thinking. When we reserve the term ‘strategy’ for truly game-changing plans and ideas, it retains its significance and impact.
Strategy will always remain a powerful tool in the marketer’s playbook, driving meaningful business outcomes. When applied effectively, it signals thoughtful, high-stakes planning that can genuinely sway the market.
While strategic thinking is crucial, not every decision needs to be a strategic conundrum. It’s about striking the right balance, ensuring that when we do say ‘strategy’, it packs the punch it’s meant to.
Lisa Alty is a marketing manager at RSM UK. With over 18 years’ experience in professional services marketing, her expertise includes brand development, service proposition development, multi-channel campaign development and marketing communications.
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