If you’re an entrepreneur, then you know that marketing is key to your success. But what’s the best way to go about creating a marketing plan? We’re here to help.
In this post, we’ll walk you through the steps of creating a marketing plan that will help you achieve your goals. So read on and get started!
What is a marketing plan?
A marketing plan is a document that helps businesses map out their marketing strategy. It includes everything from market research and target markets to marketing objectives and budgets. A well-crafted marketing plan can be a powerful tool for driving sales and growth.
Types of marketing plans
There are four main types of marketing plans:
- Product marketing plans
- Brand marketing plans
- Customer marketing plans
- Competitive marketing plans
Product marketing plans focus on increasing sales and market share for a particular product. Brand marketing plans build brand awareness and equity. Customer marketing plans target specific segments with tailored messages. Competitive marketing plans seek to outmaneuver the competition.
From here, you can further break down market planning such as focusing on your social media, content, products, services, and more. Your market plan can get as detailed as you want (or need) it to be.
How to write a marketing plan
Creating a marketing plan for your new business can seem daunting, but with a little planning and forethought, it doesn’t have to be. Follow these simple steps to create a marketing plan that will help you get the most out of your marketing budget and efforts.
1. Define your business goals
Does your business idea work? Good, now think about things like:
What are you hoping to achieve with your marketing efforts? Do you want to increase brand awareness, drive sales, or something else? Be specific and measurable.
2. Research your target market
Who are your potential customers? What are their needs and wants? How do they like to be marketed to?
Answer these questions when learning about your market so that you can define who you want to reach. This ‘customer avatar’ will guide almost all aspects of your marketing efforts.
3. Develop your marketing mix
This is the combination of marketing tools you will use to reach your target market. Common tools include advertising, public relations, direct marketing, and online marketing.
4. Create a marketing budget
How much can you afford to spend on marketing? Make sure to include both fixed and variable costs in your budget. Take a look at what others typically spend in your market, and then adjust to fit your budget. Else, find ways to DIY your business efforts to keep costs low until you can invest in proper, professional services.
5. Set a timeframe for your marketing plan
When do you want to achieve your marketing goals? Establishing a timeline will help you measure your progress and keep on track.
6. Implement your marketing plan
Now it’s time to put your plan into action. This is where you’ll need to get creative and think outside the box.
7. Evaluate your results
How did your marketing efforts fare? Did you reach your goals? What worked well and what could be improved? Be sure to adjust your plan accordingly for future marketing campaigns.
Get to action
In our blog post, we outlined a process for creating your own marketing plan. We hope you found this information helpful! If you would like more information on how to execute any of these steps or need help getting started, be sure to read our blog posts and connect with us on socials!