Company Marketing Plan. The development of any business is influenced by many variable factors. Some of them are beyond the control of the people making business decisions and are difficult to predict, while others can be prepared for and strategies can be developed to build the highest possible profit and minimize losses. Marketing activities have a significant impact on the implementation of the goals set and the developed strategy. However, they must be properly structured and conducted in accordance with a specific scheme. For this purpose, entrepreneurs or qualified specialists from external agencies create a so-called company marketing plan . What is it, why is it an essential part of a company’s business plan and what should it look like – we will answer these questions in this article. We invite you to read!
What is a company marketing plan?
Company Marketing Plan prepared by individuals running their own business or commissioned to external entities, a marketing plan is a meticulously developed document that defines the strategy for the company’s marketing activities, planned for implementation in a given, predetermined period. The marketing plan is considered one of the most important parts of a company’s business plan. A company’s marketing plan may be general in nature and concern the strategy in the context of the entire offering, or it may focus on a specific product or service that is a new element of the company’s activity or describes innovative advertising solutions for already existing parts of the offering.
Why should every business develop a marketing plan?
A marketing plan is created to streamline and organize activities related to the promotion of a given company’s offer or a specific section of it. Implementing marketing projects in an organized manner, in accordance with a previously thought-out plan created based on research and in-depth analysis, allows for the optimization of activities, prediction of their effects and preparation for potential risk. Creating marketing plans also allows you to look at your competitors’ actions, prepare for their effects, and include them in shareholder database . What other benefits does a properly prepared marketing plan for your company have?
- Supports the process of building a good company image and brand awareness among potential recipients.
- It enables effective promotion of specific products or services.
- It allows you to create effective and catchy communication with your target group.
- It allows you to spot opportunities that appear on the market and use them appropriately.
- It allows for better recognition of competitor activities.
- It allows you to control your progress towards achieving your goals.
- Helps in achieving certain profits.
- It makes it easier to create and strengthen relationships with potential customers.
- Supports efficient, thoughtful company management.
How to Create a Marketing Plan? Stages of Creating a Strategy:
We have already outlined what a marketing plan is and what benefits implementing it can bring. But what should the marketing planning process look like? It can be divided into two separate categories – strategic and operational. As part of preparing a marketing plan, every entrepreneur should answer several important questions. Below we present the most important elements.
- First, you need to define the company’s goal and mission – what products or services it should offer to its customers, why they may be attractive to potential recipients, what makes them stand out.
- Secondly, it is important to define the target group, the so-called persona. Who is the potential customer, how old are they, what are their interests, what are their needs – the answer to these questions will facilitate the creation of an optimal marketing strategy, development of the right using a data-driven approach to improve your seo content method and content plan.
- Thirdly, it is worth defining who the company is, how it works and how numerous are the competitors to the company we run.
- Fourthly, the financial situation of the company should be determined – whether it is generating losses, what is the level of income, whether it can finance new investments.
- Fifthly, it is worth finding what distinguishes the company and making it its strongest point, which will be emphasized in the marketing strategy.
Analyzing the company’s situation from the point of view of the above elements will help prepare a good marketing plan.
Elements of the plan, or what should the structure of the document look like?
We already know what to do before starting the process of creating a marketing plan, so it’s time to focus on the document itself. What should it look like, what elements should it consist of? There are several universal points, the inclusion of which in the document turns out to be very important . Below we present sample elements of a marketing plan that can facilitate its creation and, consequently, its implementation.
- Marketing plan introduction – a summary that identifies the main points and objectives of the document, characterizes the market, competition, and financial issues related to the marketing strategy.
- A detailed, in-depth analysis of the company’s situation – both internal and external (the environment in which it operates).
- Clear and precise definition of marketing goals, taking into account issues that may hinder their implementation. Goals allow you to determine the direction of the development of the marketing strategy and indicate what we want to achieve in the course of running a business.
- Development of a marketing strategy related to specific products or services, their prices, distribution channels and forms of promotion.
- Outlining a schedule for implementing the created plan, allowing for the planning of specific activities step by step over time.
- Indication of forecasted costs, profits and revenues of the activities described in the document, in other words – preparation of the marketing plan budget (assuming that costs may change).
- Defining control methods – procedures for measuring progress in achieving previously set goals and their evaluation.
– the nature of the company. The complexity of the marketing strategy being create. The type of product or service. The points listed above can help create a structured, transparent marketing plan.
Example of document structure
According to experts, a sample marketing plan can be limit to one page. A one-page marketing plan addresses three phases of sales:
- before acquiring a customer (we define the yeezy 350 boost v2s target group, develop a message and a source of reaching the potential recipient);
- during sales (this stage focuses on acquiring leads and strengthening relationships with the customer);
- after sales (taking care of the level of service, increasing customer value, arranging new leads).
