An effective marketing plan can be a powerful launchpad for your business. It provides much-needed direction and structure to the team, clarifies objectives with deadlines attached, and outlines clear tactics to turn goals into reality.
This article discusses how you can create a solid marketing plan for every type of business and industry.
What Is a Marketing Plan?
A marketing plan is your business roadmap that specifies long-term and short-term goals, describes the target audience or buyer persona, and outlines the marketing strategy and activities that will engage and convert your chosen target niche.
A good marketing plan helps the entire team stay consistent about the "big" strategy and the tactics that can facilitate success. Marketing plans also track your business outcomes to determine if the marketing campaigns are, in fact, bringing you closer to your goals.
4 Must-Dos When Creating Marketing Plans in 2023
Do Market Research
Before outlining your plan, you must conduct market research. Market research enables you to determine the buyer persona or the characteristics your ideal customer will have. Know what your industry is selling to discover their needs, wants, and purchasing habits through a deeper exploration of buyer behavior and surveys.
Determine Your Target Audience
In e-commerce, your target audience will not necessarily represent the attitudes of the entire market. A digital marketing plan identifies the niche—the market already drawn to solutions your brand provides. For instance, if your business sells athleisure, then the younger generation who prefer using such clothing for daily wear are likely in your market, aside from the typical fitness enthusiasts. Studying the target audience could help illustrate these potential customers' pain points (e.g., sizing, breathability, price, etc.) and how you can address them.
Outline Your KPIs
A sound marketing strategy plan directs your team to an action-oriented process. You need to specify how you will measure success or improvement opportunities by defining key performance indicators (KPIs). In outlining KPIs, it’s better to include actual numbers instead of broad, vague statements. For example, if one of your goals is to increase website traffic, you can place the exact target (1,000 visitors monthly) to monitor if your marketing and SEO tactics make it happen.
Choose Your Channels
Lastly, your marketing plan will define different marketing channels. In planning marketing campaigns, figure out where you will publish the content and where your resources can garner the most valuable leads and potential customers.
It's almost a given to maximize social media platforms nowadays. Your marketing plan can map out which social networks to set up a business page, how you will use that platform, and what will constitute success on that specific channel.
Marketing Strategy Plan: The Takeaway
A marketing plan is essential for any business's success. It guides your team towards achieving the goals you've set and provides a glimpse of gaps, opportunities, and actionable insights to keep your business growth on track.
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