Implementing marketing tactics without a plan in place can often result in a waste of resources and time. Being clever and planning out your marketing practices will help your business to market your products and services effectively. Without draining your bank account. This article will show you the importance of outlining a marketing plan to achieve your business goals.
What is a marketing plan?
A marketing plan is a roadmap that outlines marketing tactics which a business can implement over the course of a year, a quarter and month. It outlines the strategy that will be put into place in order to generate new leads and reach your target audience in order to increase your sales and brand awareness.
Importance of a marketing plan
One of the major benefits of having a marketing plan integrated into your business plan is that it helps to identify a businesses target market and the audience’s demographics. Integrate a marketing plan into your business to help you focus your resources, while still carrying out your marketing activities during a period of economic downturn. By doing this you can remain in front of your target audience, while also staying connected with customers. It will help you to tailor your marketing efforts in order to, not only reach your target audience, but to also generate business.
So how do you create a bullet-proof marketing plan?
Before outlining your business objectives and goals, it is essential that you are aware and understand your company’s mission statement and value proposition. Your mission statement should be concise and succinct. It is a summary of the aims and values that the company or organisation upholds. It is important to outline your mission statement when creating your marketing plan. This will help you to be aware of what you hope to achieve through your marketing practices.
Strategically analyse and identify the strengths, weaknesses, opportunities and threats related to your business with a SWOT analysis. This technique is worthwhile when creating your marketing plan as it works to your business’ advantage. It shows you exactly where you excel and where there is room for improvement.
By running a SWOT analysis you can reduce the chances of your business failing by understanding the areas that require enhancing. Develop a SWOT analysis to help you to eliminate and correct any shortcomings which you may have otherwise been unaware of. Identify your strengths and opportunities to allow you to capitalise on and fortify your business as a key player within the market. While analysing your weaknesses and threats, it can help you to understand what needs to be done in order to give your business that competitive advantage and strengthen your business going forward.
Social listening can help you learn a lot about your target market. Learn about their issues to help improve your customer experience, while also tapping into the elements that they like about your competitor’s business. It is a great way to improve your overall customer experience to engage your ideal customer.
3. Identify how you can resolve these pain points.
Listen to your customers’ issues and adjust to meet their needs. Pivoting to resolve your target market’s needs will help your business win the attention and business of those that you are trying to reach.
Alter your thinking and consider how your products and service can make your customers’ lives easier or better. Understanding this will help you to tailor your marketing strategies accordingly in order to appeal to this audience’s senses and grow your business.
Implement the 4P’s: promotion, price, place and product, to identify how you want to be perceived. Strategically marketing your brand in a certain way to create and establish a recognisable brand image in the minds of your audience is the ultimate goal.
This is vital to your brand’s success within the market as it allows you to improve your marketing activities in order to increase your lead generation and customer acquisition. Run a competitive analysis to help you fine tune your unique selling point. Differentiating your business from your competitors will help you to get in front of your target market and make your brand more memorable among this cohort.
Determine your Marketing Strategies
Knowing who your customers are and where they are is half the battle. Use the insights gathered from your marketing plan to tactically choose your marketing activities. You should choose your marketing strategies with your buyer persona in mind.
Marketing strategies that work best for your business
Everything from your website, to social media marketing to traditional print advertising, will help your brand to improve its recognition among your audience. As your recognisability increases across these marketing channels your audience will instinctively and subconsciously choose your brand when in need of your services.
If you need help determining the best strategies for your business, get in touch with your local Nettl studio and we would be happy to help you.
Conclusion to Creating a Marketing Plan
Re-evaluate, Re-evaluate, Re-evaluate!
Remember to evaluate – see what is working, what isn’t. Business is constantly changing, so adapt with it. It is important to review your marketing plan not only monthly, but quarterly and yearly. Make sure that the campaigns that you are putting out are effective and they are proving to be beneficial for your business.
If you are in need of any assistance in creating a marketing plan or planning your marketing your business, get in touch with your local Nettl studio and we would love to have a virtual coffee with you and learn more about your business.