Limited resources have many executives multitasking between product development, direct sales, management, and marketing issues. With so much to do, executives often devote their planning time to compiling an annual list of marketing communication “deliverables”.

A few problems occur with this tactical approach. One, little of their time is spent updating or communicating their marketing strategy. Two, this focus on projects, instead of programs, brings more fragmented results, limiting market share, revenues and new product success. And third, they tend to repeat the same narrow marketing toolset year after year, which may see declining returns as product mix, competitive situation and target sectors evolve.

Spending the time to plot out - and agree - on your marketing activity for the next six or twelve months reduces internal conflicts, avoids project delays, and speeds time-to-market decisions. Tailoring current strengths for different customer segments refreshes a company’s messaging to build revenues and market share.

Navigation is important at the end of the year too - assuming the CEO feels you’ve visited all the right harbours and successfully navigated the most treacherous reefs.