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Simple 3-Step Marketing Plan Process for more satisfaction from fixing a problem than making incremental improvements to a marketing campaign.
Table of contents
- Step 1. Focus On Incremental Improvement
- STRATEGIC MARKETING PLAN
- 7 Steps to Create a Marketing Plan - The Everygirl
We want to help simplify and optimize the marketing planning process for your business. Use the following marketing game plan model , as featured in Chapter 10 of The Marketing Performance Blueprint , to build core strength, spur growth through existing assets, connect actions to outcomes and allocate resources based on performance. There are three phases—evaluate, establish and execute e3 —made up of 15 steps. Most organizations and enterprises should complete these steps at least annually to guide long-term planning.
The evaluation phase is used to gather intelligence into historical performance, technology infrastructure, success potential, marketing assets, competitors, industry trends and resources. While this is a critical stage, do not fall victim to planning paralysis. High performers differentiate by doing, not planning. Do your homework, put strategies in place, and then start testing and revising. Every marketing plan should start with an honest internal marketing assessment. The assessment should consider perspectives from multiple stakeholders, including marketing and sales leaders, as well as key executives.
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The more involved all parties are in the entire strategic process, the easier it is to align needs, goals, expectations and priorities. The assessment challenges organizations to take a realistic look at potential and performance and ensure that marketing, sales, IT and the executive team are aligned.
The Comprehensive Marketing Audit: Potential discovery research elements include:. Discovery research allows you to establish a strategy, confident that no stone has been left unturned. Determine budgets early in the process so you can build realistic marketing strategies based on available resources. If your expectations exceed your internal capabilities and capacity, then this also is the ideal time to evaluate outsourcing options. When calculating marketing budgets, consider a ROI-based approach using historical performance data combined with future growth goals.
Keep in mind that increasing budget is just one way to achieve revenue goals. The preferred alternative is to focus on strategies that expand lead volume, improve lead-to-sale conversion rates and increase revenue per customer. Marketing performance scorecards are simple to build and are increasingly efficient to maintain thanks to analytics platform APIs.
APIs let you automatically pull data out of one source and place it into another. There are technology solutions that offer robust reporting and visualizations, but for many businesses a straightforward Excel document or Google Drive spreadsheet with charts is a solid start. Business intelligence tools can provide data visualization, while emerging artificial intelligence solutions use natural language generation NLG and natural language processing NLP to create narratives based on data. The key to an effective marketing scorecard is to align marketing KPIs with overall business goals, have a logical and well-documented process for updating and reporting results, and develop systems for turning data into intelligence and intelligence into action.
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- Simple 3-Step Marketing Plan Process for 2017.
Set prime goal values. Once you have a representative sample of historical data in your scorecard, define benchmarks and goals. Rather than trying to set values for every marketing metric, focus on a select group of high-priority goals e. Goals should be realistic and achievable based on your company's talent, technology, budgets and potential for success. Marketing technology has made it possible to personalize every campaign and interaction.
Step 1. Focus On Incremental Improvement
It starts with well-defined and segmented target audiences. It is helpful to classify audiences by name, priority high, medium, low , size and type direct, borrowed, purchased. How effectively you develop and nurture relationships with your audiences can determine your organization's ability to build a strong brand, grow a talented team, create a powerful culture, gain exposure in priority markets, establish brand loyalty and affect the bottom line. What positions you as the one source clients or customers should turn to?
What makes you different? What objectives do you want to accomplish? The important part is to zone in on the milestones you want to reach throughout that year, whether it seems possible or not. I recommend taking each goal separately, and listing the related action items directly underneath it. This allows you to see exactly what needs to get done in order to push yourself toward that accomplishment. In your full-blown business plan, you detailed the entire financial side of your business. How much do you plan to spend on marketing and promotion throughout the next year, and how much will the action items you listed above cost you?
Most importantly, where will this money come from? There you have it! As mentioned earlier, marketing plans vary from basic and simple to comprehensive and complex. Now you have insight into your strategic issues, you can develop a marketing strategy whereby negative issues are mitigated and positive issues will get more developed. The chosen marketing strategy provides the input to the marketing mix.
The Ansoff matrix and value strategies according to Treacy and Wiersema provide a framework to design your marketing strategy. It is important to discus different alternatives with employees with knowledge of the market and organization. These models assesses the suitability, feasibility and acceptability of the marketing strategies that qualify. It is very important to discus the decisions in this part of the proces to design your marketing strategy. A strategic marketing plan includes three different levels of decision making within the organization. The first level of decision making is strategic, following by tactical level and finally operational level.
The larger the organization, the more important it is to involve the right people at the right time to involve the whole organization in the proces of marketing planning. The image below shows the differences between strategic, tactical and operational level clearly. Determining marketing tools and marketing mix. Which marketing tools to use? Marketing strategy is designed for the long-term typically 5 years or more. The determination of the marketing mix is a decision on tactical level. The tactics to work the market are set on medium term which is usually 2 to 5 years.
The marketing mix is a balanced composition of the different marketing tools that you have available as organization. The marketing mix is a balanced composition of the various marketing tools. Criticism of said composition is that this model is not sufficiently customer-oriented and excesses from the organizations vision instead of the targeted audience. The annual marketing plan includes a plan in which the direction of the organization will be tested within the chosen marketing strategy and tactical implementation.
Also in the marketing year plan drawn up a business plan for the new year. The marketing year plan is a audit moment to look back on the strategy and tactics, and where necessary to adjust. However, it is not intended that every year the marketing strategy is completely revised, after all this is drawn up for the long term. Operational marketing plan and audit. How to implement and realize the chosen marketing strategy and tactical marketing mix. Without this final step, all the previous work of your marketing plan would be completely unnecessary.
Your operational marketing plan concerns the implementation and evaluation of the marketing strategy and its marketing mix. Usually the operational marketing plan is plotted for the coming year, and can be incorporated into an annual marketing plan. To create a schedule to implement your marketing mix and various marketing activities the Gantt chart lends itself extremely well. This model shows a diagrammatic timeline on which various marketing activities are planned. Even when certain marketing activities get delayed, the Gantt chart makes it easy to reschedule successive operations.
Key performance indicators are an important way to gain insight into the implementation of your marketing strategy. Set pre-defined key performance indicators which reflect whether the organization is still on the right track when executing your marketing plan. Use these KPIs key performance indicators at the level of marketing strategy, marketing tactics and marketing operations.
The latter include budgets and planning. Your strategic marketing plan in 7 steps. Want to know how to write a marketing plan? In 7 steps I show you how to create a strategic marketing plan. Developing a marketing strategy can be tricky. Important components are easily overlooked. It also may happen that marketing analyses are not performed properly. This makes it difficult to draw the right conclusions.
Make sure you have a good roadmap to create your marketing plan. The result is a clear marketing strategy for your organization and a plan of activities to implement this strategy. Step 1 Purpose Determining the starting position. Step 2 Market Locating opportunities, threats in the market.
Step 3 Organization Identifying strengths and weaknesses. Step 4 Confrontation Confronting internal and external factors.
STRATEGIC MARKETING PLAN
Step 5 Marketing Strategy Provide a solution to problem areas. Step 6 Marketing Mix Determining marketing tools. Step 7 Operational Marketing Plan Operational marketing plan and audit. Marketing strategy roadmap The SMP-method includes the following seven steps: Purpose determine the end goal Market identify opportunities and threats Organization reveal strengths and weaknesses Confrontation confront your SWOT Strategy design your marketing strategy Marketing Mix draft your marketing mix Operational Marketing Plan operational implementation and auditing Step 4 through 7 are a logical consequence of another.
Translation to marketing practice The SMP-method is a pragmatic translation of an academic methodology. The essential during the development of the SMP-method is the following key question:. Creating a marketing plan can be distinguished roughly in three phases. The first phase is research.
7 Steps to Create a Marketing Plan - The Everygirl
This phase is also called the SWOT analysis. Marketing decision levels A marketing plan consists of three levels of decision, these include; strategic level, tactical level and operational level. Marketing Operations Now that you have developed a marketing strategy, you can determine the tactical implementation and operational details.
Marketing planning is a complicated activity and can be time-consuming.
Often there is a lot of information to work with and analytical skills are required.