Benefits of Strategic Planning

Benefits of Strategic Planning in Marketing

Strategic planning serves a variety of purposes in businesses, including to:

  1. Clearly defines the purpose of the business and to establish realistic goals and objectives consistent with that mission in a defined time frame within the organization’s capacity for implementation.
  2. Communicates those goals and objectives to the business’s target markets.
  3. Develops a sense of ownership of the plan.
  4. Establishes a clear picture of the business’s identity and how it is differentiated from its competitors.
  5. Examines the strengths, weaknesses, opportunities, and threats of the business.
  6. Ensures the most effective use is made of the business’s resources by focusing the resources on the key priorities.
  7. Provides a benchmark from which progress can be measured and establish a mechanism for informed change when needed.
  8. Considers everyone’s opinions in order to build consensus about where the business is going.
  9. Provides clearer focus for the organization, thereby producing more efficiency and effectiveness.
  10. Bridges staff/employees and managers.
  11. Builds strong teams in the board and in the staff/employees.
  12. Provides the glue that keeps the leadership.
  13. Produces great satisfaction and meaning among planners, especially around a common vision.
  14. Increases productivity from increased efficiency and effectiveness.
  15. Solves major problems in the business.

Contact Empire Creative Marketing to learn more about how creating a strategic plan can work for your business.