What is Marketing Plan?
The Marketing Plan is the written document that describes your advertising and marketing
efforts for the coming year; it includes a statement of the
marketing situation, a discussion of target markets and company
positioning and a description of the marketing mix you intend to
use to reach your marketing goals
.
A company needs a marketing plan just as it needs a business
plan. Here's how to write a five-part marketing plan that works as
hard as you do:
Section 1: Situation Analysis
This introductory section contains an overview of your situation as
it exists today and will provide a useful benchmark as you adapt
and refine your plan in the coming months. Begin with a short
description of your current product or service offering, the
marketing advantages and challenges you face, and a look at the
threats posed by your competitors. Describe any outside forces that
will affect your business in the coming year--this can be anything
from diminished traffic levels due to construction if you're a
retailer or a change in law that could affect a new product
introduction if
you're an inventor, for example.
Section 2: Target Audience
All that's needed here is a simple, bulleted description of your
target audiences. If you're marketing to consumers, write a
target-audience profile based on demographics, including age,
gender and any other important characteristics. B2B marketers
should list your target audiences by category (such as lawyers,
doctors, shopping malls) and include any qualifying criteria for
each.
Section 3: Goals
In one page or less, list your company's marketing goals for the
coming year. The key is to make your goals realistic and measurable
so that you can easily evaluate your performance. "Increase sales
of peripherals" is an example of an ineffective goal. You'd be in a
much better position to gauge your marketing progress with a goal
such as, "Increase sales of peripherals 10 percent in the first
quarter,
15 percent in the second quarter, 15 percent in the third
quarter and 10 percent in fourth quarter."
Section 4: Strategies and Tactics
This section will make up the bulk of your plan, and you should
take as much space as you need to give an overview of your
marketing strategies and list each of the corresponding tactics
you'll employ to execute them. Here's an example: A client of mine
markets videotape and equipment. One of her goals is to increase
sales to large ministries in three states by 20 percent. Together
we've developed a strategy that includes making a special offer
each month to this prospect group, and one of her tactics is to use
monthly e-mails to market to an in-house list.
Your tactics section should include all the actionable steps you
plan to take for advertising, public relations, direct mail, trade
shows and special promotions. You can use a paper calendar to
schedule your tactics or use a contact manager or spreadsheet
program--what matters most is that you stick to
your schedule and
follow through. A plan on paper is only useful if it's put into
action.
Section 5: Budget Breakdown
The final section of your plan includes a brief breakdown of the
costs associated with each of your tactics. So if you plan to
exhibit at three trade shows per year, for example, you'll include
the costs to participate in the shows and prepare your booth and
marketing materials. If you find the tactics you've selected are
too costly, you can go back and make revisions before you arrive at
a final budget.
You can adapt this plan as your business grows and your
marketing programs evolve. You'll find it's a simple tool you can't
afford to be without.
