Develop a marketing plan
A marketing plan gives you a systematic approach to developing your marketing strategies. A successful marketing plan will factor in many areas of the business. This means that the strategies work together to complement each other.
Why develop a marketing plan?
Benefits of developing a marketing plan include:
- understanding your business, customers, and competition providing you with direction to impress investors and lenders
- improving risk management of increasing competitiveness
- motivating you and your staff through targets/milestones - which increases sales and your bottom line
- helping with monitoring and managing performance – both staff and marketing efforts
- improving budgeting and allocation of resources - saving money and time.
A good marketing plan sets clear, realistic and measurable objectives, includes deadlines, provides a budget and allocates responsibilities. Remember that reviewing your marketing plan should remain an ongoing process throughout the different stages of your business.
What do I put in my marketing plan?
A marketing plan can consist of these elements:
- analysis of your current market
- key marketing strategies in your business
- steps to achieving your business objectives
- proposed budget
- scheduling of the marketing activities being undertaken.
Remember that your marketing plan will remain an ongoing process throughout the different stages of your business.
What to do…
- Download our Marketing plan template to get started.
- Consult an experienced business adviser, accountant or solicitor.
- Find out how to conduct market research.
- Search Events for seminars on marketing and advertising near you.
- Search Advisory Services to find a free or low-cost business adviser near you.