Marketing strategy is the plan of action to let the world know of your products and services and convincing them that you have a solution to their problems.
Some companies have a clearly written down marketing strategy and others say they have in their mind. But the best practice is a documented marketing strategy.
Under the marketing strategy you will have a collection of methods or tools to spread the word about your product. But, companies rarely evaluate the effectiveness of each of the marketing methods. Here the recommendation is classify the marketing methods of your organization under ABC classification. The set of methods that bring 80% of the orders form ‘A’ Category, 15% forms ‘B’ Category and the rest forms ‘C’ Category.
To make this classification, you certainly need traceability between the marketing efforts and lead generation. Many a times you might have came across a sales person asking you like, How would you know about our products? Actually they are collecting the traceability between marketing and leads. The best way to do this is to use a good CRM. I would personally advocate HubSpot for this purpose.
