No one likes taking risks unnecessarily or spending money if they don’t need to. Here I explain the benefits of a marketing plan and why every business must have one going into 2018. This blog article will be an example of how an implemented marketing plan using a variety of marketing techniques can AND does work.
If you haven’t set any objectives for your company and your marketing activities, how can you decide at the end of the year if you have achieved what you set out to do? Many companies don’t start marketing or don’t review their current marketing progress as things are good and they are happy with good.
Here are 18 reasons your business MUST have a plan:
- Avoid guesswork and make informed decisions
- Minimise taking risks with your business
- Know you are talking to your customers in the right way with the right content e.g. personalise!
- Spend your budget wisely by using facts
- Identify new opportunities within your market
- Ensure you use the right blend of the marketing mix
- Know your customers/target audience
- Identify any potential threats within your market
- Uncover problems before they manifest themselves
- Maintain and grow your reputation to customers, potential customers, suppliers and partners
- Manage the resource you have internally and externally to maximum capacity
- Establish your position in the market
- Differentiate from the crowd and know your USP (unique selling point)
- Be proactive not just reactive
- Get your brand out there and become recognisable as a thought leader in your industry
- Break a huge task into manageable and bite sized chunks
- Pinpoint had a response to a tweet I wrote to Claude Littner of the Apprentice. I asked him about the biggest benefit of having a marketing plan. He said and I quote “it is an integral part of a business plan”. We couldn’t agree more.
- Plan ahead for 2018 and beyond
What is a marketing plan?
There are 7 stages to a comprehensive marketing plan including
- Objective Setting
- Defining the messaging
- Defining a strategy
- Defining the target audience
- Developing the tactics
- Implementing the plan
- Measuring and evaluation
Having a plan will make you more focused and more successful and it will make the most of your budget.
Good luck for a successful 2018 and beyond …