When you hear the term “marketing plan,” you might automatically think it only applies to big businesses with deep pockets. But the truth is, any size business can benefit from having a marketing plan.
Think of your marketing plan as a road map that will take you from Point A (not having enough customers) to Point B (achieving your business goals). By taking the time to develop a sound marketing plan, you’ll be able to save time and money while effectively promoting your business to your target audience.
Not sure where to start? Keep reading to learn everything you need to know about marketing plans, including what goes into one and how you can develop one for your business.
What is a Marketing Plan?
A marketing plan is a strategic document that outlines your company’s promotional activities for a specific period of time, typically one year.
It includes detailed information about your target market, product or service, objectives, budget, and key performance indicators (KPIs). Your marketing plan should also include a schedule of when each activity will take place.
You may choose to create different marketing plans for different products or services. Or, if you have multiple target markets, you might create a separate marketing plan for each one.
Creating a marketing plan doesn’t have to be complicated. In fact, it can be as simple or complex as you want it to be. The most important thing is that your marketing plan is purposefully created to help you achieve your business goals.
Here are the basic steps you need to take to develop a marketing plan:
1. Define your business goals
2. Research your target market
3. Choose the right channels to reach your target market
4. Set a budget
5. Create an execution schedule
6. Measure your results with KPIs
Let’s take a closer look at each step so you can better understand how to create a marketing plan for your business…
A marketing plan is an essential tool for any size business. By taking the time to develop a sound marketing plan, businesses can save time and money while effectively promoting their products or services to their target audiences. Creating a marketing plan doesn’t have to be complicated – just follow the six steps outlined in this blog post and you’ll be on your way!
