Summary of "How to Think About Strategy in B2B Marketing: B2B Marketing Micro-Lesson"
Podcast Title: B2B Marketing with Dave Gerhardt
Episode Title: How to Think About Strategy in B2B Marketing: B2B Marketing Micro-Lesson
Release Date: November 20, 2024
Host: Dave Gerhardt
Introduction
In this episode of B2B Marketing with Dave Gerhardt, host Dave Gerhardt delves into the critical topic of strategy in B2B marketing. He clarifies the often-confused concepts of strategy and planning, emphasizing their distinct roles in achieving marketing goals. This micro-lesson is essential for marketing professionals aiming to refine their approach and ensure alignment within their teams.
Defining Strategy vs. Plan
Dave begins by addressing a common misconception: the interchangeable use of "strategy" and "plan" in marketing discussions. He underscores the importance of distinguishing between the two to foster clarity and effectiveness in marketing initiatives.
- Strategy is defined as the underlying principles that guide how goals are achieved. It answers the question, "How will we approach our goals?"
- Plan refers to the overarching framework that maps out the path to reach those goals. It encompasses the strategy and the specific actions (tactics) needed.
“A plan is the overarching thing that you'll follow to get to your goal. And the strategy lives within the plan.” [01:50]
The Strategic Pyramid
Dave introduces a pyramid model to illustrate the relationship between goals, strategy, and tactics:
- Goal: The desired outcome (e.g., "Increase website conversions by 20%").
- Strategy: The guiding principle for achieving the goal (e.g., "Employ experts to make site upgrades, optimize existing content, and constantly run tests across the site").
- Tactics: Specific actions taken to implement the strategy (e.g., "Improve all of our book a demo forms on the website").
“The strategy, as I said first, was to employ experts like a freelancer consultant to do the work for us.” [03:40]
Aligning Strategy with Tactics
A key emphasis of the episode is ensuring that tactics are in harmony with the overarching strategy. Dave provides examples to illustrate how misaligned tactics can derail efforts to meet goals.
- Aligned Tactics: Actions that directly support the strategy.
- Example: If the strategy is to optimize existing content, a tactic might be to enhance the "book a demo" forms on the website.
- Misaligned Tactics: Actions that, while potentially effective, do not support the established strategy.
- Example: Introducing a new blog post every week may help improve conversions but does not align with a strategy focused on optimizing existing content.
“Improving all of the book a demo forms on a site would make sense because we're improving the existing site content.” [04:30]
Strategy in Practice: Curation vs. Creation
Dave shares a practical example from Exit Five to illustrate a well-defined strategy. The company adopts a "curation, not creation" approach, focusing on curating expert insights rather than producing content in-house.
- Strategy Statement: "Curation, not creation."
- Goal: To provide high-quality content without being the primary creators.
- Tactics: Bringing in industry experts to share their perspectives, rather than relying solely on the internal team.
“Our goal is not to be the creators of great content, but to curate the best experts in the industry and give them a platform to share their point of view.” [05:10]
This approach ensures that all marketing tactics revolve around selecting and showcasing external expertise, maintaining consistency and focus within the strategy.
Importance of Strategic Alignment
Dave concludes by reiterating the significance of aligning tactics with strategy. A well-defined strategy acts as a "guardrail," guiding actions and preventing the team from deviating into ineffective or unrelated activities.
“Strategy overall is the guiding principle to your plan. It guides your actions and almost acts as a guardrail in terms of what not to do.” [05:45]
He encourages listeners to thoughtfully consider their strategic frameworks to enhance planning and execution in their marketing efforts.
Conclusion
This episode serves as a valuable micro-lesson on differentiating strategy from planning in B2B marketing. Dave Gerhardt effectively articulates how a clear and aligned strategy can drive meaningful results by ensuring that every tactic supports the overarching goals. Marketing professionals are encouraged to adopt strategic thinking to streamline their efforts and achieve sustained success.
Notable Quotes
- “A plan is the overarching thing that you'll follow to get to your goal. And the strategy lives within the plan.” [01:50]
- “Improving all of the book a demo forms on a site would make sense because we're improving the existing site content.” [04:30]
- “Our goal is not to be the creators of great content, but to curate the best experts in the industry and give them a platform to share their point of view.” [05:10]
- “Strategy overall is the guiding principle to your plan. It guides your actions and almost acts as a guardrail in terms of what not to do.” [05:45]
Final Thoughts
Understanding the distinction between strategy and plan is crucial for effective B2B marketing. By focusing on strategic alignment, marketing teams can ensure that their tactics are purpose-driven and contribute directly to their goals. Dave Gerhardt's insights provide a clear roadmap for marketers seeking to enhance their strategic approach in 2025 and beyond.
For more insights and to join a community of over 4,400 B2B marketing professionals, visit exitfive.com.