In business, marketing is often the last thing companies think about and the first to be cut as budgets are squeezed. Marketing is critical to business success and is chronically misunderstood, under-resourced and under-prioritised.
The problem is that many businesses either don't have a marketing plan or don't know what it is or how to create one. A business plan isn't a marketing plan.
This post will help your way of thinking about a marketing plan.
Setting objectives is the first step in creating a plan. You need to know what you want to achieve before setting a course of action. Once you have your objectives, it's important to share them with everyone involved to agree on what needs to be done.
What are clear objectives?
Clear objectives are specific and measurable goals that you want to achieve. They should be achievable within a particular timeframe and relevant to your overall strategy. When setting objectives, it's essential to keep them SMART:
S-specific: Objectives should be clear and concise so that everyone knows what needs to be done.
M-measurable: You need to be able to track progress towards objectives to see whether or not you're on track.
A-achievable: Objectives should be ambitious but realistic to motivate you to take action.
R-relevant: Objectives should align with your larger goals and strategy.
T-timely: Objectives should have a timeline attached so that you can stay focused and on track.
Once you have set clear objectives, it's important to communicate them to everyone involved in the project. This will ensure that everyone is on the same page and working towards the same goal.
Start with your business objectives, move to marketing and then communications. If you are running different tactical plans come to those at the end.
Start with business objectives: targets for sales, profit, market share etc
One of the most critical steps in starting a new business is creating a detailed plan. Without a comprehensive plan, it won't be easy to make your business successful. This document will outline your business goals, strategies, marketing efforts, and financial projections.
To start, you should begin with your business objectives. What are your targets for sales, profit, or market share? Once you have set these goals, you can start developing strategies for achieving them. Your marketing efforts should be designed to reach your target audience and convince them to buy from you. And finally, your financial projections will give you an idea of how much money you need to start and operate your business.
A well-written business plan is essential for any new company. Creating a thorough document can increase your chances of success and make it easier to get funding from investors or lenders.
Then set marketing objectives: customer numbers, the weight of purchase, distribution etc
After you have determined your target market, you will need to set some marketing objectives. These objectives could include increasing the number of customers, increasing the weight of purchases, or expanding your distribution. Whatever objectives you set, make sure they are specific and measurable so that you can track your progress.
Can your marketing objectives realistically deliver the business objectives?
It is vital to keep the overall business objectives in mind to formulate your marketing objectives. You want to make sure that your marketing efforts will contribute to meeting those objectives. Otherwise, you could waste time and resources on campaigns that don't move the needle.
So take a step back and ask yourself whether your proposed marketing objectives will likely have the desired effect on the business. Are they achievable? Do they align with the company's goals? If not, it might be time to reconsider your approach.
The bottom line is that your marketing objectives need to be realistic to be effective. Keep the bigger picture in mind as you craft your plans, and make sure that everything you do is working towards achieving the business's overarching goals.
When it comes to persuasion, it's essential to think about people as individuals, not just numbers. Whom do you need to influence? What do you want them to do exactly? Instead of what?
It can be easy to get caught up in the numbers game when persuading others. But at the end of the day, people are just that - people—individuals with their thoughts, feelings, and motivations. And if you want to be successful in persuasion, you need to consider that.
Think about your target audience and what you want them to do. If you can tap into their individual needs and desires, you'll be much more likely than if you're trying to go for a generic mass appeal. Get specific and custom-tailor your message accordingly for the best results.
If necessary, commission, additional research; simple omnibus questions can often be enough.
One way to make sure you are getting accurate information is to commission additional research. This can be done in the form of surveys or polls. You can often get the data you need to make informed decisions by asking simple questions.
Another benefit of commissioning extra research is that it can help you gauge public opinion. This is important when making decisions that will affect many people. Simple survey questions can often give you an accurate picture of how the general public feels about a particular issue.
Lastly, commissioning additional research can help you stay ahead of the curve. By keeping up with public opinion, you can anticipate changes and adjust your plans accordingly. This allows you to stay flexible and adaptable, two essential qualities in any successful business venture.
Only the Set communications objectives last. Who is your audience? How can you influence them?
A communications objective is a goal that businesses set to understand better or influence their audience. There are numerous ways to set communications objectives, but an essential part is understanding who your audience is and what you hope to achieve with them.
Once you know your audience, you can begin thinking about how best to communicate with them. This may involve crafting messages that appeal to them, choosing specific channels to reach them, or developing communication strategies that align with their needs and interests. By setting clear and achievable communications objectives, you can ensure that your business is better equipped to reach its goals.
Check your budget? Can you reach enough people? What will your SOV be?
- Creating a budget for your marketing campaign is essential in ensuring its success. You need to determine how much you can afford to spend on advertising and promotions and allocate those funds accordingly. Make sure to leave room in your budget for unexpected expenses as well!
- Reaching your target audience is another critical component of a successful marketing campaign. You need to make sure that you are using the most effective channels to reach the most likely interested people in your product or service. Examine your customer base, decide where they "live" online, and focus your efforts there.
- Finally, you need to consider your share of voice (SOV) in relation to your competitors. This is the percentage of people exposed to your marketing message, which will also see messages from your competitors. If you have a very small SOV, it won't be easy to make an impact with potential customers. Plan accordingly and allocate resources to maximise your SOV and reach as many people as possible with your marketing message!
A marketing plan is critical to business success but is often misunderstood, under-resourced, and under-prioritised. Many businesses don't have a marketing plan or don't know what one is. A business plan is not a marketing plan.
Creating a marketing plan can seem daunting, but it doesn't have to be complicated. Marketing plans are vital because they provide a roadmap for achieving your marketing goals. Without a plan, it's easy to get lost or sidetracked.
Here are three simple steps to create a basic marketing plan:
1. Define your target market: Whom are you trying to reach with your marketing? Be as specific as possible.
2. Set measurable goals: What do you want to accomplish with your marketing? Make sure your goals are realistic and achievable.
3. Develop strategies and tactics: How will you reach your target market and achieve your goals? Again, be specific and include deadlines, budgets, and who is responsible for each task.
You can create a simple yet effective marketing plan that will help guide your business towards success by following these steps.
Set Key Performance Indicators (KPIs) for each objective and start tracking them. KPIs are the essential tools for measuring success in any area of life, especially for professional or business goals. By setting KPIs for each objective, you can more easily track your progress and identify areas that need improvement.
There are a few things to keep in mind when setting KPIs:
- Make sure they are specific and measurable.
- Ensure that they are achievable and relevant to your particular goal.
- Make sure they are time-bound so that you can track your progress over time.
Some examples of good KPIs include increasing sales by X% within Y months, reducing customer complaints by X% within Y months, and increasing employee satisfaction scores by X% within Y months. Whatever KPIs you set, make sure they align with your overall business goals to measure your progress towards them accurately.