3 essential steps to creating an effective marketing plan
Everyone knows that a business plan is important, yet many people tend to ignore marketing plans even though they are just as vital a tool for a successful business. Unlike a business plan, a marketing plan’s main focus is on winning and keeping customers. It is a detailed and strategic plan that includes numbers, facts and objectives. This may come across as intimidating, but your marketing plan does not have to be lengthy or beautifully written, unless you’re using your marketing plan to gain funding. Here are 3 steps that can aid in creating a marketing plan that works:
- Conduct a “situation analysis”
A situation analysis begins with an evaluation of your company’s current situation. Define your brand and the products or services you may offer. Compare how well your business is doing in the market compared to your competitors. These findings will bring you to solutions on how to improve the little “glitches” in your processes.
- List your marketing goals
All this effort has to amount to something. What do you want your marketing plan to achieve? Write down a short list of goals and expand on them with ways to implement these initiatives.
- Determine the marketing communications, strategies and tactics you’ll use
The previous steps allow you to get to the point where you will be able to use the ideas you wish to improve or develop a new business with. Plan in detail the tactics and resources you will use to reach these prospects and how to accomplish those goals.
A good marketing plan targets prospects at all stages of the sales cycle. Tailor-fit your plan to accommodate the methods your company uses to obtain new customers, keep your current customers happy and improve your brand’s overall reputation. The marketing strategies you choose should always focus on your company’s ability to improve the way you do business.