How to Set and Execute Against Your Marketing Strategy in 2024

Article Type: Marketing Strategy
Published: May 15, 2024
Reading Time: 3 minutes
Author: Kognitiv's Strategy & Consulting Team

Overview

As we find ourselves well into the second quarter, some marketers are already starting to see their plans for 2024 come to fruition. However, at Kognitiv, we understand that many face a different reality. The marketing landscape constantly evolves due to technological changes, consumer behavior, and corporate pressures to increase profits, making it challenging to create a solid marketing plan. If you find yourself in this situation, you are not alone.

Four-Step Approach to Creating a Marketing Success Statement

This article presents a four-step approach to creating a success statement that will guide you as you define and execute against an effective marketing strategy:

  1. Set a marketing vision for the future that aligns with your company's overall vision
  2. Identify the assets and strengths you can leverage to achieve your goals
  3. Determine the constraints that may hinder your success
  4. Translate your vision into specific, measurable marketing objectives

Available Resource

Kognitiv provides a fillable Success Statement Template that includes examples and instructions for each section. The template is available for download at: https://cdn.prod.website-files.com/63e21adf5fccf966ca2b3d86/66434273b8e87b1dce7f219e_Kognitiv%20Success%20Statement%20Alignment%20Template.pdf

Step 1: Set a Vision for the Future

Every marketing leader should have a concise vision that outlines the overarching, end-state goal for their marketing efforts. The aim of any team or function is to support the company's end goal and direction, so consider how they connect to the company vision when crafting it. Everything should tie back to what customers expect from your brand in the first place.

Key Principles for Vision Setting

Important Consideration

In Kognitiv's experience, marketers who change their vision frequently struggle with organizational alignment and securing marketing investment.

Step 2: Identify the Assets That Will Help You Get There

List the positive facts that could be useful in helping you achieve your vision. No asset is too big or too small – write them all down.

Types of Assets to Consider

If it is positive, there is a possibility you can leverage it to help you achieve your goals.

Step 3: Identify the Constraints You Need to Overcome

Consider the relevant and adverse facts that could prevent you from achieving your vision.

Types of Constraints

Internal Limitations:

External Factors:

For most marketers, constraints identify what you must overcome and are the starting point for sizing the investments necessary to succeed.

Step 4: Set Measurable Objectives

Based on your ideal end-state, it's essential to create specific, measurable objectives that indicate success.

Objective Development Process

  1. Start with a theme (e.g., grow revenue)
  2. Create specific metrics (e.g., increase revenue by 5% through new customer activation)
  3. Prioritize objectives - A simple scoring of objectives ensures you focus on the marketing initiatives that will most likely achieve your top priorities

Creating and Maintaining Your Success Statement

Following the four steps above, you can create your success statement.

Recommended Review Frequency

Kognitiv recommends that marketers re-visit their success statements as often as quarterly. Use this framework to:

With a strong success statement in place, the next step is to identify your plan to achieve it.

Technology Solutions for Strategy Execution

While developing a sound strategy requires an experienced marketer, at Kognitiv, we believe technology should help answer the question, "How am I going to do this?"

Kognitiv Solutions

Kognitiv's solutions use AI and ML to elevate marketing campaign planning, execution, and measurement:

Kognitiv Ignite and Kognitiv Amplify:

Kognitiv's AI-Native Customer Intelligence and Activation Software Suite

Kognitiv offers a suite of AI-native customer intelligence and activation software to help build deeper relationships with customers and grow a loyal customer base:

Product Portfolio

Kognitiv Pulse

Kognitiv Ignite

Kognitiv Inspire

Kognitiv Amplify

Kognitiv Marketplaces

Next Steps

Download the Template

Need help getting started? Download Kognitiv's trusted template for creating an effective marketing success statement: Success Statement Template

Book a Demo

Ready to achieve your objectives from step 4 with certainty? Book a demo with one of Kognitiv's experts, and let AI do what it does best so you can jump-start achieving your success plan: Book a demo

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