Most experts agree that marketing is key to success for any business – big or small. Not only does it help increase brand awareness and educate customers, but it also has a demonstrable impact on a business’s bottom line.
Don’t believe us; believe the fact that marketing contributes around 15-30% of total net-new customer revenue.
So, if you haven’t thought about it, now’s a good time to start building a comprehensive marketing plan. Studies show that organized marketers, i.e., ones with a data-driven strategy, are 674% more likely to find success with their efforts.
Marketing plans are battle strategies that guide future promotional campaigns. Make sure to take advantage of popular ‘must-try’ marketing strategies, growth hacks, and new technologies that are available to ensure that your plan is holistic
This article will walk you through the five essential steps to create a successful marketing plan to help you focus on what matters and execute it properly.
But before we explore the five killer steps, let’s first understand what a marketing plan is.
Making A Marketing Plan – Why Is It Important?
Marketing plans are detailed roadmaps outlining your various advertising or marketing strategies for a certain period (typically 12 months) to achieve business goals.
It explains how you’ll target, attract and convince customers to purchase your services or products with clear objectives, actions, and accountabilities.
Instead of focusing on end goals, marketing plans map out all the necessary steps to reach company goals and destinations.
Now that you know what a marketing plan is, let’s find out how to create a winning one.
5 Killer Steps To Create A Winning Marketing Plan
Listed below are the five crucial steps you need to create a winning business marketing plan:
Perform A Situation Analysis
Before you start creating a marketing plan, it’s best to know, understand, and acknowledge your current situation.
Perform a SWOT analysis to know your business strengths, weaknesses, opportunities, and threats to future growth and success.
Next, do a competitive analysis (also called competitor analysis) to understand your position against competitors.
Here are a few questions to consider:
- What makes your competitors’ products different?
- Identify the gaps in your competitor’s approach, such as what they lack
- What to offer customers to gain a competitive edge or make you stand out?
You can easily find out what customers really want by answering these questions. This step will lead you to the next step, i.e., the targeted audience.
Define Your Target Audience
If you already have buyer personas (also known as audience or customer personas), refine them to create targeted campaigns with a high impact, leading to more leads and sales.
However, if your business lacks a customer persona, it’s best to create one using market research. According to one report, 93% of businesses that exceed revenue and lead goals segment databases by customer personas.
Create a comprehensive buyer persona. Include demographic data (such as income, gender, and age) and psychographic information (like goals and pain points).
In addition, what problems do customers have that your offering can fix or what moves your audience? Use this data to define marketing goals.
Write Powerful SMART Goals
Just like you can’t go where you want to go without a clear road map, you can’t achieve business success without first figuring out what success means to you. So, what result do you wish to achieve with a marketing plan?
Define your goals – make sure they’re realistic and attainable. Create SMART goals that are measurable, attainable, relevant, and specific and include a timeframe. For instance, you may want to boost your Instagram following by 20% in four to five months.
Find The Right Tactics
Once you define SMART goals depending on your current situation and target audience, figure out strategies and tactics to help achieve them. Additionally, what action items and marketing channels to focus and concentrate on?
For instance, if you want to improve your Instagram following by 20% in four to five months, your strategies and tactics may include hosting giveaways, responding to comments, and posting four times per week.
Choosing the right tactics to achieve your goals can be incredibly easy, especially when you define your realistic goals.
Set A Budget
Before implementing your ideas, figure out what it’ll cost you to achieve your goals. Setting an appropriate marketing budget helps you choose campaigns to achieve business goals and monitor progress.
How much does each tactic you identified cost? Consider everything you’ll need to execute the plan, from customer relationship management tools and copywriting to graphic designing.
While writing your tactics and strategies, you should note their cost estimation. You may include the timeframe and assets you purchase, like ad space.
It’s Time To Make Your Marketing Plan A Reality
An effective marketing plan is key to creating aligned and in-sync teams, finding new customers, and selling more.
With our five killer steps, you can seamlessly create a winning marketing plan any day and be better off than most businesses and marketers.
Ready to scale your business with a digital marketing strategy that gets results? Choose Agency Media! We help you achieve more customers, sales, and overall revenue.
For more information, contact us today!