A marketing plan outlines the practical steps to implement your marketing strategy, ensuring all business members understand the objectives and their roles in achieving them.
What is a marketing plan?
A robust marketing plan sets precise goals aligned with your broader strategic ambitions. For instance, if your strategy focuses on a specific customer demographic, your plan should include tangible, quantifiable objectives to reach that market, like a specific increase in sales. Establishing deadlines and setting marketing budgets are crucial for prioritising tasks and achieving your goals.
Incorporate sales projections and targets as central elements of your marketing plan, integrating them into your overarching business strategy. However, other metrics might be equally vital. You could aim for specific numbers of inquiries, new customer acquisitions, and average sale values or strive to maintain a positive cash flow.
Selecting such targets reflects your strategic objectives and helps pinpoint the effectiveness of your marketing efforts. This approach enables you to identify what aspects of your marketing are successful and where improvements are needed, such as when inquiries fail to translate into sales.
Planning your marketing
Engaging with current and potential clients is crucial in your business’s routine operations. Your marketing plan should clearly outline the timing and methods for this communication.
A successful marketing plan hinges on selecting the right mix of strategies that align with your business objectives. This personalised marketing mix might encompass a variety of activities, including:
• Regular email newsletters as part of an email marketing strategy;
• Cultivating a presence on social media platforms;
• Online advertising efforts, such as pay-per-click campaigns and Facebook ads;
• Website optimization to increase visitor traffic and improve sales conversion rates;
• Leveraging public relations opportunities to enhance business visibility;
• Participation in industry trade shows and exhibitions;
• Implementing sales promotions and exclusive deals;
• Local press and radio advertising;
• Distributing leaflets within the local community.
Additionally, drafting a marketing calendar can help pinpoint optimal times for intensified marketing efforts throughout the year, considering seasonal buying trends, like the Christmas period.
For businesses that depend significantly on a limited number of key customers, it is advisable to create tailored account management plans for these crucial relationships.
Author
Graham is the CEO of Taxoo.
He is a Serial Start-up Entrepreneur, Investor and Multiple Business Owner. He has vast experience in Marketing, Business Management and UK Foreign Investment. He has multiple qualifications in both Law, Post Grad Marketing and is a Chartered Marketer and Fellow of the Chartered Institute of Marketing.
He is also the CEO of Lawble, Xpats.io, HR Hype and Rokman Media.
