A marketing strategy refers to a company’s overall plan or approach to reach its target audience and achieve its marketing objectives. It involves identifying the target market, analyzing the competition, and determining the most effective marketing mix (i.e., the combination of products, pricing, promotion, and distribution) to reach and engage potential customers.

On the other hand, marketing tactics are the specific actions or efforts a company takes to implement its marketing strategy. These include advertising, social media campaigns, email marketing, events, and public relations efforts. Marketing tactics are typically more specific and focused on executing a particular aspect of the overall marketing strategy.

In summary, marketing strategy is the big-picture plan that guides marketing efforts. In contrast, marketing tactics are the specific actions to implement that plan.

Having a complete marketing strategy is vital for any business. A clear strategy enables you to plan how you will reach your target market, which can lead to increased revenue and profit. A proper marketing strategy will increase your scope of potential customers so that you are not just throwing money at different advertising tactics and hoping that something sticks. A marketing strategy for your business allows you to be surgical and succinct in your approach leading to minimal waste and maximum profit.

You will understand why certain marketing tactics make sense and why many others can be eliminated. You’ll have clear direction for your company’s sales and marketing efforts to grow your business and which can be used to insource your marketing efforts (which I recommend and can show you how to do), or to better guide your outsourced marketing vendors.