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Creating a Marketing Plan for your Business is Crucial

By: Jim Kroswell

A marketing plan for a business is necessary because it serves as a roadmap for communicating with audiences. When you go on a trip, you need to have a map and a marked out path. It is the same thing with a business. You need instructions on evey move you make, and a roadmap helps you with that.

One of the most important things to remember when you are creating your marketing plan is that you should include not just the marketing actions you plan to take, but also you should include what kinds of outcomes you want from these actions. Concrete examples of outcomes are the most beneficial.

There are different parts of the marketing plan which include other plans. These include: advertising plans, branding plans, content marketing plans, customer acquisition plans, email marketing plans, social media plans, video marketing plans, and influencer marketing plans. Each of these smaller plans can be incorporated into the larger picture that is your roadmap for your marketing.

When approaching your plan, try working backwards. Start at the outcome you want to have. How many sales do you want? What is the revenue you need? Now figure out how many leads you will need to get those sales, remembering that leads are usually tied to percentages that produce the outcome you desire, such as 10% of leads will turn to sales. Multiply your sales numbers needed accordingly. If you know that only 3% of the people who see your ad will purchase your product, calculate total leads accordingly. Now, what kinds of outreach will you need to complete to get that number of leads. Remember that only a small percentage of those who see your outreach will turn to leads. Knowing these numbers will guide you when trying to figure out what actions you need to take to reach your ultimate goals.

Goals and actions are important, as they are facts you can communicate to your partners and team members to asure them that your ultimate goals are within reach. This helps overall morale in your company, and may lead to less infighting in your group.

All marketing plans have five essential parts. You will want to write out your plan, and remember that you may have one per month, and one for the year. You may even have a five year plan. On a paper, or computer document, list each of these parts, and fill in your ideas under each one. The finished product will be your marketing plan. The five areas you will want to complete are: business goals, metrics you will be measuring, strategies in an overview fashion, plans of more detailed executions, and reports, which will include what, exactly, the report will look like, and when it will be generated.

Finally, an important part of your marketing plan is to look at your competitors and try to piece together what their plans are. Look to see what may be working for them and what does not. Do a search of their company name to see what is written about them around the internet. Check sites like simimlar web to find out metrics which may aid you in getting a more clear vision of your own ultimate business goals.

Use these strategies to grow your business. And remember, marketing strategies should be written down and consulted often to achieve maximum growth for your buisness.

This website is intended for entertainment only. There is no financial or investment advice given.