Implementation of strategy is not as straightforward as it might initially seem. This is confirmed by the article “The Silent Killers of Strategy Implementation and Learning" by authors Michael Beer and Russell A. Eisenstat, where it is stated that the percentage of successfully implemented business strategies is only between 10 and 30%. Although this data applies to all business strategies, including marketing ones, it raises the question of why so many ideas fail to reach their potential. While there can be many reasons, and many of them cannot be predicted, there are several steps you can take to ensure the complete and quality implementation of a marketing strategy.
Quality of Strategy - Creation
The first prerequisite for successful implementation is a high-quality and comprehensive strategy. Such a strategy must be based on a detailed analysis of your brand, market potential, competitor analysis, and opportunities that arise through this analysis. Additionally, the strategy must include a clearly defined audience, key messages, and goals you want to achieve with that audience. Equally important, the strategy must have a well-detailed implementation plan across all involved promotion channels, as well as defined goals and expected results. The question you need to ask yourself here is:
“Is the vision of the strategy and the position your brand will have after implementation clear to you?”
Understanding the Strategy - Education
For the implementation of a strategy to be successful, it is crucial that teams not only understand what they need to do at a particular stage but also why they are doing it. Everyone involved in the implementation must comprehend the bigger picture and the role their department or team plays in achieving the strategy. Education and transparent communication are key to ensuring that all team members understand the strategy and how to apply it in their specific areas. Once you have a defined strategy, the question to ask at this stage is:
“Is what needs to be achieved and how it is to be done through the strategy completely clear?”
Defining Deadlines and Responsibilities - Coordination
Deadlines and responsibilities, both for teams and individuals, must be clearly defined. Whether the strategy is being implemented by your internal department or an external agency, it is essential to have a person responsible for coordinating the implementation of the strategy. This person is usually the marketing manager, or if you do not have such a person, a Fractional CMO could be an option to consider. Clearly defined deadlines and responsibilities allow for better progress tracking and quicker resolution of potential issues, so the crucial question at this stage is:
“Do I have a person who will be responsible for the implementation?”
Implementing the Strategy and Monitoring Results - Optimization
Implementing a strategy typically takes an extended period, meaning that the market may change during this time. Therefore, it is important to monitor the results and set goals for each phase, adjusting certain parts of the strategy as needed. Monitoring results allows for the optimization of steps and investments, thereby increasing the likelihood of achieving desired outcomes. In every phase of implementation, you should ask yourself:
"Are we achieving the best possible results at every step of the implementation given the circumstances?"
Implementing a strategy is a long and complex process, but if each step is executed well, the results for the business can be outstanding. If you face any challenges with defining, creating, or implementing a strategy, reach out. Together, we will know where to start.
