Marketing Plan
A marketing plan is just as important to a company as a business plan. Here's how to put together a five-part marketing plan that will work as hard as you do:
Chapter One: Situation Analysis
This introductory section provides an overview of your current situation and will be a useful starting point for adapting and refining your plan in the coming months. Start with a brief description of your current product or service offering, your marketing strengths and challenges, and consider the threats posed by your competitors. Describe any external forces that will affect your business in the coming year; it could be a reduction in traffic levels due to construction if you are a retailer, or changes in legislation that could affect the launch of a new product, for example if you are an inventor.
Section Two: Beneficiaries
All you need here is a simple and clear description of your target audience. If you're in consumer marketing, write a profile of your target audience based on their demographics, including age, gender, and any other important characteristics. B2B marketers should list their target audience by category (e.g. lawyers, doctors, malls) and include all eligibility criteria for each.
Chapter 3: Goals
On one page or less, list your company's marketing goals for the coming year. The key is to keep your goals realistic and measurable so you can easily measure your performance. “Increase device sales” is an example of a passive goal. You are in a much better position to measure your marketing progress with goals like "Increase device sales by 10% in the first quarter, by 15% in the second quarter, by 15% in the third quarter, and by 10% in the fourth quarter."
Chapter Four: Strategy and Tactics
This section will become the main part of your plan, and you should take as much space as necessary to outline your marketing strategies and list any relevant tactics you will use to implement them. Here's an example: My client sells tape and video equipment. One of her goals is to increase sales to three major government agencies by 20%. Together we developed a strategy that was to create a special offer for this group of potential customers every month, and one of his tactics was to use his monthly emails to promote an internal list.
Your tactics section should include all the specific steps you plan to take for advertising, PR, direct mail, business offers, and special promotions. You can use a paper calendar to plan your tactics, or use a contact manager or spreadsheet program - sticking to a schedule is key. A plan on paper only makes sense if it is implemented.
Chapter 5: Budget Details
The last section of your plan includes a brief breakdown of the costs associated with all of your tactics. So if you plan on attending three trade shows a year, for example, you should include the cost of attending trade shows and setting up your booth and marketing materials. If you think the tactic you've chosen is too expensive, you can go back and make adjustments before you reach your final budget.
You can adjust this plan as your business grows and your marketing programs evolve. You will find that it is a simple tool that you cannot live without.
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