How to Build a Marketing Plan That Actually Works for Your Businesses.
Posted on December 16 2021
We are here With You.A marketing plan is the strategy a business uses to get its products or services in front of its target customer.
-But no matter how much you stick to your plan, things go wrong. As the famous quote by US President Dwight D. Eisenhower goes, “Plans are useless, but planning is indispensable.”
-The purpose of a marketing plan isn’t to create a step-by-step, never-fail manual. It’s to have a roadmap to help you accomplish the best-case scenario, while also being realistic with your expectations and having back-up plans if something doesn’t work. Consumer trends shift, circumstances change, and initial experiments don’t always go as planned.
Create your marketing plan
Why marketing plans often fail—and what to do about it
How to create a realistic marketing plan
Marketing plan templates to help you get started
How to create a realistic marketing/businesses plan
We know that marketing plans fail for those three reasons. So, what does a realistic one look like?
These are the most common factors you must have to focus.
- Business details
- Products or services being marketed.
- Mission statement
- Marketing goals
- Budget and projections
- Marketing team.
One mistake marketers make when creating a marketing plan? Going overboard with assumptions. The end result is a marketing plan that doesn’t result in revenue.
Be on the lookout for overconfidence bias rearing its head here. While data won't give you a foolproof plan, every assumption is one more bit of uncertainty you’re folding in. If an amazing plan has a 40% chance of holding up to real-world scenarios, one without much rigor—and lots of assumptions—might hold up 10% of the time. Is that really worth planning for?
This section of your marketing plan defines the tactics you’ll use to get the word out. We can break a marketing strategy down into three parts: channels, formats, and messaging.
Goals and measurement
Speaking of investment, the final stage of your marketing plan is a breakdown of how you’ll measure success. Most often, we measure this using return on investment (ROI)—the revenue you expect to generate after spending your marketing budget.
It’s every marketer's dream to get $100,000 in sales from a $1,000 marketing spend. While that isn’t the most realistic expectation, knowing your target ROI will prevent overspending. If your ROI is hurling beyond your prediction, you can better allocate that budget to be spent elsewhere.
But there’s more to marketing measurement than dollar returns. Revenue isn’t always the end goal. Brand awareness, website traffic, and social media followers are short-term marketing objectives that aim to get new people into your marketing funnel. Nail them early on and you set your business up for success later down the road.
Marketing plan templates to help you get started-
Creating your own marketing plan is no small job. You’ll put hours into customer and competitor research to find the channels likely to have the biggest impact on your marketing goals. One place you can save time, though, is with a template.