5 steps for creating a practical marketing plan
I often get asked; do we really need a marketing plan? The simple answer is hell YES!
Without planning and a sound strategy, how can you know where you are going or what you need to do to get there?
So why is a marketing plan important?
it gives direction and clarity for your business and it keeps you accountable.
it provides a blueprint that your team can follow and constantly refer to and works in direct alignment with your business plan.
Here are five steps to help develop your marketing plan:
Step 1: Set your goals and budget
Your marketing goals are an important part of your company's planning process. You and your team should come up with goals that will drive what you do. When you create marketing goals that align with your business’s overall goals, you'll create a cohesive plan and put your business on the pathway to success.
Step 2: Assessment yourself and the market
Explore the market situation, what’s happening, what are the current and emerging trends and critical success factors to be aware of. Look at strengths, weaknesses, opportunities, and threats in terms of your competitive position, target markets, target audiences, current positioning/messaging, the maturity of your offerings, channel partners, etc.
Assess your competitors, but don’t obsess, it’s more for awareness so that you can fine tune how you are different and position and promote accordingly.
Step 3: Understand your target audience
Knowing your audience is key and adjusting your marketing to appeal and connect with them is critical. Be careful not to make assumptions but gain genuine insights into who your target audience is, want to they want, and how you can engage with them effectively.
Step 4: Set your strategy and action plan
Now that you’ve created your marketing goals, have a budget and know who and how you want to target, you are ready to develop your strategy and activity plan.
Step 5: Define metrics for success
Being able to measure marketing activity is essential so that you can determine ROI. Work out how you can effectively measure each activity highlighted in the marketing plan, if you can’t measure, rethink whether it’s worth doing. Remember it’s not just about the cost involved but also the time spent on the activity. At Reality Marketing we compile a monthly score card for our ongoing client’s which highlights marketing activity results and provides commentary and recommendations for further enhancement.
Find out more about the importance and what to include in a marketing plan here
Need help with development of your marketing plan?
Reality Marketing are experts in creating comprehensive and practical marketing plans for clients.
If you simply don’t have time or aren’t quite sure where to start, please contact our friendly and professional team today, call 0423 361 093 or email firstname.lastname@example.org
Find out how we have helped other businesses like yours here