November 9, 2018 Kevin Erb

Keep it simple, strategy

Strategy. A simple word that can make things very complicated very quickly. A word that can be grossly overused (and misused) in business and marketing. At its core, however, its definition is straightforward—a plan for obtaining goals. If it’s so simple, then, why do marketers tend to overcomplicate it?

As this recent article helpfully reminds us, it’s often because marketers can’t help themselves.

For one, overcomplicating strategic planning makes marketers indispensable in their own eyes—and, they hope, in the eyes of those they’re working with. The more complex and comprehensive you can make a strategic plan, the thinking goes, the more important and profound it’s perceived to be (and, they hope, the more the perceived value is).

We call this the “thud factor;” the bigger the plan, the more thunderous the thud—and the more impressed their partners or customers are. The end result of all this, of course, is a strategic plan that may look imposing and impressive on a shelf—but does little in helping marketers achieve goals and objectives.

It doesn’t have to be this way—nor should it. At Ferguson, we prefer to keep strategy simple—and as the article above helpfully reminds us, that’s when it’s most successful. Indeed, the most focused and effective strategic plans start by answering those most basic and fundamental questions: Who? What? Where? When? Why?

  • What is the goal?
  • Who is the audience?
  • Why will they value the product/offering?
  • Where do we reach them?
  • When do we reach them?

Answering those questions should make it easier to answer the last, and perhaps most important, question: How? How are we going to get them to take the actions we want them to?

Altogether, these answers form the foundation of a more concise, focused (and often single-page) strategic plan. A strategic plan that’s easy to digest and disseminate—and ensures that all stakeholders have a clear understanding of the objectives, as well as the strategy for achieving them.