Why and How to Create a Marketing Plan?
As you may already know this week is all about marketing plans. Why you need them and how to create them. Below is a quick snapshot on how you should actually start to build one out.
Why do I need one?
Well having a marketing plan will allow you to understand what your customers really want and what they are actually willing to pay. You can also find out what it is that your customer wants and what they are willing to pay for it. Having a solid marketing plan will also present you with the tools and tactics you need to use in order to achieve your sales goals. In a nutshell your marketing plan should be like a guide that your company lives by.
Where Should I start?
You need to start by evaluating where you are now right now.
- How do your customers find you?
- What are your strengths and weaknesses
- What are some of the Issues you might face
After you’ve figured out where you are now you need to start creating your plan…
- Describe your audience- You need to know key things like demographics- age, gender, earnings, location etc. How often do they purchase products/services like yours
- Marketing Goals- Write down your specific goals and make them measurable. For example are you looking to increase your sales by 20%
- Channels and tactics you will use. This is probably the most important part. Once you have identified your prospects and your marketing goals you need to figure out how you will reach out to your prospects and accomplish your goals. You need to figure out what is the best way to reach your audience. Is it online, offline or both. If it’s online you might want to consider using social media (twitter, FB, Linkedin etc). Do you have a website? Where will your customers find you? Do you have an SEO strategy? Will you use a paid marketing strategy to reach your audience- eg PPC, FB ads, linkedin ads etc. If it’s offline (although you might still need a website), will you be handing out leaflets, cold calling, product exhibitions, marketing events and trade shows.
Your Marketing Budget
How much will the marketing tactics outlined in the previous step cost you.
- For example, if you are doing a google AdWords campaign how much do you need to spend to reach your target audience?
- Will you be outsourcing the marketing to an agency or will you be employing a marketing person. How much will this cost?