How To Build A Marketing Plan That Works For Any Industry Or Niche
Marketing plans are known for their important role in developing a company’s reputation as well as establishing an identity.
The process is an essential component in any strategic management effort.
A well-crafted marketing plan will provide direction on how to approach problems in a way that will promote growth. The plan must be carefully laid out before implementing any new strategies.
It can help identify gaps in current market strategies or show where changes need to be made during times of change within the organization or industry.
What Kind Of Information Should Be Included In A Marketing Plan?
A marketing plan is a strategic tool. It must be well thought out, planned and organized to ensure success.
It is a collection of strategies that can be used to reach your desired goal(s) for your business. The strategies will change with time and are dependent on overall company goals and market conditions.
How To Create An Effective Marketing Plan Template
Whether you are growing or looking to replace a strategy, your marketing plan should be tailored to provide maximum effectiveness for the best return on investment.
Marketing plans should remain flexible enough to allow for adjustments as time goes on.
Step #1: Gather Information
The first step in creating a marketing plan is to gather data.
Gathering this information will allow you to identify the company’s current reputation and brand recognition.
- Customer survey results
- List of Key Strategic Goals or Objectives
- List of Key Performance Indicators
- Key Sales Statistics and/or Trends
- List of Product or Service Features and Benefits or Selling Points
Step #2: Identify Target Markets & Media Usage Patterns
Once you have gathered information, it is crucial to gather data on the target audience.
This can be done by identifying the most important markets and subcategories to analyze.
Step #3: Look At Your Current Plan
Your current marketing efforts should be taken into account. This is the point where you contact all of the agencies you work with, be it local SEO services like YEAH! Local, a social media company, your website company, etc, and get reports on how you are doing.
With this information in hand, you can begin to see where the gaps lie.
Step #4: Do Your Research
Good and effective research is key when it comes to beginning to develop a robust marketing plan.
You should start with:
- Competitors – Identify the competitors who are most comparable to the business you are analyzing. Also, look at how they are similar to yours and if they have similar or different target demographics or product offerings.
- Their market strategy – Analyze the competitors’ strategies and make adjustments/changes as necessary. If your business is similar to theirs, use that information to determine what you need to do in order to compete effectively.
- Countermeasures – Analyze each competitor’s countermoves so that you can determine how they are dealing with their market competition or needs a strategic adjustment.
Step #5: Develop a Strategic Plan & Key Business Objectives
Having analyzed the market and identified your competitors, it is now time to start developing a strategy for your company.
