Operating without a marketing plan can put huge stresses on a business, creating a reactive environment that prematurely depletes budgets, is difficult to document ROI, and often produces results that may be off-message.

What's NOT working for you?

Blog entry > Marketing plan - What’s NOT working for you?

Marketing 101 - The Marketing Plan

It's not uncommon for a small business to operate without a formal marketing plan - re-actively capitalizing on marketing opportunities as they present themselves; utilizing comprehensive free design services that may produce inconsistent messaging; bouncing from one tactic to another never understanding what's working. When firing all cannons, blindly in all directions, it's only a matter of time before that elusive direct-hit brings in customers, right? Most companies just can't afford to waste that kind of time or ammunition.

From building awareness to producing satisfied customers, a well-contrived marketing plan will support the objectives laid out in your business plan. It will help you focus on marketing tactics that have maximum potential to help achieve the business goals, plus it ensures that all activities work together within a predetermined budget to support the big marketing picture.

The process helps:

  • establish an annual marketing direction
  • organize and distribute budgetary funds throughout the entire sales process
  • ensures program momentum
  • evaluate and address competitive threats
  • prevent unexpected pressures on the budget
  • encourages an annual evaluation process to weed out waste

Basic steps to creating an effective marketing plan:

  • determine a budget (typically .5 - 3% forecast revenue)
  • research and analyze the target market and competition
  • list, analyze and estimate cost practical/preferred marketing and sales support opportunities
  • evaluate and prioritize potential opportunities, keep metrics in mind
  • determine the costs of plan, adjust to your budget
  • schedule proposed tactics and collateral requirements

Tired of anxieties related to marketing disorganization? Want to ensure you are building a solid foundation for your brand? A marketing plan just makes sense!

Teddrick.

What do you think?

More planning stories: