In the marketing world, you’ll often hear two terms floating around that may seem like nothing more than two ways to say the same thing: A marketing “plan” and a marketing “strategy.” However, there is a very distinct difference.
- A marketing strategy is your overall philosophy towards marketing. It encompasses the various tactics, avenues, etc. that you intend to use and the overall result you want to achieve. It is your “Why” when it comes to your marketing.
- A marketing plan is a roadmap of the details, actions, and steps you will take to execute the marketing strategy. It is your “How” when it comes to your marketing.
Think of it like this: One marketing company (say Spotlight Branding for example) helps law firms increase referrals and attract the right clients. Other marketing companies might focus on getting law firms to page 1 of a Google search, generate a certain number of leads for the firm, or book a certain number of speaking engagements. These are all different philosophies—none more “right” or “wrong” than the other—that guide the way we go about our business.
In your firm, your marketing strategy can be whatever you believe is important and can be a mix of referrals, lead generation, PR, and more. Your marketing plan is how you are going to go about executing it. Will you hire a vendor(s) to accomplish your goals? Do you have an in-house marketing team to go to work for you?
Regardless, you need BOTH a strategy and a plan, otherwise nothing may ever get done.