A marketing plan is a guide for you to promote and grow your products and services successfully. It can enable you to analyse and reach your target audience, boost your customer base and ultimately increase profits. It can also help you be different from your competitors.
A good marketing plan will assist you in ensuring you’re using the right marketing tools most effectively. With a plan you can have an understanding of what marketing techniques are most successful for you.
The four key benefits of a marketing plan to your business
1. To understand what makes your business unique
Building your brand and highlighting your USPs is vital in business. Think about what you offer that’s different from your competitors – maybe you’re a construction company who specialise in being sustainable and eco-friendly? Not only do you need to know your USPs, these need to be marketed throughout your brand.
2. To help you plan business growth
By developing a marketing plan you can focus your resources and plan for your business growth, understanding the different factors that may affect your business. Not only can you identify your target market and compare yourself to your competitors; you can set specific goals and timeframes for your marketing techniques and make a strategy to reach your target market, including the channels and tools you will use.
3. To help you take control of your business
A marketing plan is about the day-to-day running of your business as well as the future of it. It will enable you to motivate your team in the workplace and manage their performance, allocate your resources and budget.
After determining the factors that affect your business, you are closer to making marketing decisions. Should you be developing new products? Are your prices right? Can you provide any promotions? Do you need extra staff or should you outsource? Do you need an advertising campaign? The questions that you often consider will become much easier in a marketing plan with clear objectives and timescales.
With everything going on in your business it can be easy to lose sight of your initial business goals. By having a well-written marketing plan, you can be kept focussed on exactly what you need to do in your business and what targets and goals you need to meet so that time isn’t wasted on what you don’t need to do.
Remember a marketing plan isn’t something that you just create once and store away. It’s a constant living guide that you should develop as your business grows and changes. Set yourself reminders to review your marketing plan regularly.
For assistance on creating an effective business marketing plan, contact me.
Download our free Marketing Plan Template
Use this free Marketing Plan Template to keep track of all your marketing activities and analyse the results.
Click here for more info and to download.