A business strategy decides where your consultancy is going. A marketing strategy decides how you'll get the right clients to come with you. You need both, and the business strategy has to come first, because it gives your marketing something to aim at.
Yet when I ask growing, ambitious consultancies that are five or even ten years old whether they have a documented business strategy, founders sometimes go a little quiet. In the early days, the focus is on bringing the work in, and that's understandable. But if you're thinking about working with me on a marketing strategy, you need a business strategy in place too. When the two work together, they're an unstoppable team.
A business strategy defines your consultancy's vision, mission, objectives and long-term goals. Think of it as the superpower behind your operation: the mastermind deciding where you're heading and why.
It answers critical questions like:
Without this framework, marketing can feel powerful but directionless. A well-crafted business strategy makes sure everything you do, including marketing, works towards a common goal.
A marketing strategy sets out how your consultancy will reach its target clients, build brand awareness and open doors to sales conversations. If business strategy is the mastermind, marketing is the hero in the spotlight: the face of the mission. A great marketing strategy includes:
But even the best marketing strategy can't save the day if the business strategy is weak.
| Business strategy | Marketing strategy | |
|---|---|---|
| Purpose | Sets direction: where the consultancy is going and why | Sets out how to reach and win the right clients |
| Covers | Vision, mission, target clients, value proposition, revenue model, KPIs | Research, segmentation, positioning and messaging, channels, content, campaign KPIs |
| Owned by | Founders and the leadership team | Marketing, working to the business goals |
| Timeframe | Usually three to five years | Usually one to three years, reviewed every year |
Your business strategy sets the goals, and your marketing strategy is the plan for reaching them. In practice, the two join forces in four ways:
Business strategy comes first. Your marketing strategy should be built on your business goals, target clients and positioning, so writing it without them means guessing.
Here's what getting the order right looks like. For one 25-person management consultancy, I built a three-year marketing strategy around its growth goals, with HubSpot tracking what was working. Within 12 months, the marketing had influenced 71 deals and brought in 521 new leads through the website. Read the full story.
Before you launch your next big marketing campaign, make sure your business strategy is solid. When the two work together, your business won't just succeed. It will soar.
Not sure your business and marketing strategies are pulling in the same direction? Book your free content convo and let's talk it through.
Yes. It doesn't need to be a long document. A few pages covering your goals, target clients, value proposition and how you'll measure success is enough to steer your marketing and your decisions.
You can, but it's risky. Without agreed business goals and a clear target client, your marketing strategy is built on guesswork, and it's hard to know whether it's working.
Review your business strategy every year, or whenever something big changes, like a new service or sector. Review your marketing strategy at least once a year, and check your KPIs every quarter.
Founders and the leadership team own the business strategy. Marketing owns the marketing strategy, but it should be signed off against the business goals.