What’s your Strategy?

In this week’s live webinar hosted by Knotice, guest speaker Susan Bidel, a senior research analyst with Forrester Research, explained the first question for organizations to ask when implementing a DMP is “What’s your strategy?”.

According to Webster’s online dictionary, strategy is defined as “a careful plan or method for achieving a particular goal usually over a long period of time.” In a time filled with ever-evolving technology and daily updates, it is crucial to have a thoughtful plan of attack laid out to guide your company towards their desired objectives and subsequently, the best use of your data management (DMP) technology.

As 2014 approaches, here are some tips on how define, develop and implement your marketing strategy across your company, especially as it helps you understand how you want to utilize your DMP.

1. Gather your key players in one room – Decide who needs to be involved in your planning from the beginning with an emphasis on the decision makers. Block off time for a two-day summit where all calendars are cleared to focus strictly on the main priorities and long-term objectives for the company. If possible, try and make it a technology-free zone to have minimal interruptions and a clear mindset.

2. Write out your strategic plan – How many times have you left a great planning meeting only to see everything you discussed fall to the wayside? To avoid this, write out your plan and make it as concise as possible. The mere act of writing it down creates a draft for other people to work from as you start to refine your document. Furthermore, it provides clarity in communication to avoid misconstrued ideas along the way.

3. Engage in healthy conflict – Don’t be afraid to disagree. The reason most people find it uncomfortable is because we are naturally conflict-avoidant. By laying the ground rules and permitting conflict, without fear of repercussions, it allows a true flow of dialogue unhindered by title or tradition. With healthy conflicts come new approaches to overcome obstacles from diverse perspectives, ultimately leading to improved results. This also decreases the likelihood of internal battles down the road as team members have the opportunity to voice their opinions.

4. Commit to your plan – What good is a plan without commitment? Along the way make sure to assign deadlines and owners who can design tactics and implement execution. They are the guardians of the larger objectives in your plan. Commitment and deadlines enforce accountability among your team. In addition, it is great to be as transparent with your company as possible about your top priorities and objectives. If asked, everyone in the company should be able to say, “our main objective in 2014 is…”.

These are some tips I’ve picked up along the way when developing corporate strategic objectives. By understanding what you need to achieve, you have cleared the path to asking how a DMP fits into your overall strategy. For more information on how to introduce a data management platform within your organization and on ways to gather your data resources, check out these linked articles.

 

 

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