https://www.freeimages.com/photo/two-darts-in-the-board-1506097
In life, planning is essential, not only to set goals but tangible ways to achieve said goals. We have limited resources such as time, money, and energy that we can spend on a day. By planning ahead, you can ensure you optimize your day and time to achieve said goals. The same is true for digital media. Like personal goals, companies have limited resources they can spend on their advertising, sometimes money for paid ads or time frames such as holidays that people aim for to buy certain things.
https://www.mytotalretail.com/article/the-importance-of-having-an-effective-digital-marketing-strategy/
With no clear strategy, you can overestimate or underestimate your market share and mismanage your resources. To be profitable, companies must do market research and understand their position in the market. It is entirely possible that a company does not know its parameters in the market, such as its market share, consumer behaviors, and its competitors. With this in mind, tracing a tangible goal is vital for companies to be able to compete. You can’t market on something that is already established and that can do better than you. New customers simply won't change their behavior for a product that is just new. They want a differential that will set this product apart from the rest of the market. With a strategy in motion, it helps define a value proposition and where you want to tackle the market by making yourself look apart from the competition and giving your customers something different. Without a strategy, the company would just be shooting its ads aimlessly and seeing what sticks to the wall. products that are “for everyone” end up being for no one. A company needs a clear customer who they want to market and before all the money is spent on ads, a strategy makes it vital for a company's future in a competitive market.
https://www.sacredheart.edu/academics/colleges--schools/college-of-business--technology/departments--schools/marketing/digital-marketing-blog/the-importance-of-a-digital-marketing-strategy-in-todays-world/#:~:text=It%20enables%20you%20to%20better%20understand%20your%20market%20share&text=Without%20a%20clear%20strategy%2C%20you,%2C%20competitors%2C%20and%20customer%20profiles.
