The Importance of a Marketing Plan and How to Make One

The Importance of a Marketing Plan and How to Make One

Brainstorming for a marketing plan

Marketing – at its core – is about letting potential customers know all about the services or products you offer, and convincing them to purchase it. Businesses with successful marketing strategies start with solid marketing plans. Generally speaking, a marketing plan specifies how you’re going to implement your marketing strategies into practice. It helps ensure that all employees know exactly what needs to be done and what they have to do to get it done.

What’s in a Marketing Plan?

A well-thought marketing plan must include clear objectives to help meet your long-term goals. For instance, if your strategy is to target a specific market, your plan must include measurable and specific goals. Experienced marketing specialists from prominent ad agencies in Utah also added that your plan needs to have deadlines and budgets, so everyone knows which task to prioritize.

Setting Targets and Sales Forecasts

Targets and sales forecasts are a crucial component of your plan. For instance, you could set target numbers for new customers, enquiries, average transaction value, etc. These could reflect your goals and help identify which strategies work and which ones don’t.

Integrating Marketing Activities

Aside from communications, your plan must also include marketing activities. For example, you might be planning on increasing your distribution network or promoting a new product. You then have to plan for price increases or cuts, as well as promotional offers like end-of-season sales.

The main focus of a marketing plan is winning and retaining customers. It must be specific and should include clear objectives, facts, and numbers. It must indicate all the strategies and tools needed to achieve your objectives, as well. Put simply, it’s the action plan of your business – what you will sell, who will purchase your offers, and which strategies you will employ to generate leads.