A marketing plan goes hand in hand with you entire business strategy. It is therefore essential for all companies that want to be competitive and reach their goals, to implement an effective marketing strategy. Here is some advice on how to write an efficient marketing plan.
Marketing Plan Preparation
First of all, it is recommended to carry out a SWOT analysis of the company, in order to identify the strengths, weaknesses, opportunities and threats to the company from both internal and external positions. By doing this it becomes clear what to avoid, which possibilities to use, who are the biggest competitor, and to which direction to build the marketing plan. To do this analysis effectively, it is important to consider a large number of possible scenarios that the company may face. For this reason, assigning only one person to do this task will not be sufficient. This process will require the full involvement of all managers.
It is also important to identify the target audience, which include existing consumers and potential buyers. In addition, it is also recommended to create an image of the ideal consumer, one who best represents the entire target audience. For instance, a businessman who has a higher income than average, and is always in a rush, is likely to buy your exclusive high quality take away food. By following these steps it is easier to decide the type of message you want to send and what type of media to use. E.G. social networks for younger generations, and traditional media for older consumers.
Measure The Efficiency Of The Marketing Plan
Only big businesses are capable of providing a wide range of goods and services at a similar quality without it losing its identity. Therefore smaller businesses must narrow their focus to what attracts the target market, and does not go against the company’s identity.
It is impossible to know whether the marketing plan is successful if no methods are in place to measure the effectiveness. There should be monthly reviews, tracking, sales forecasts and both monetary and non-monetary (phone calls, page views, blog posts) metrics. It is also essential to assign tasks to one specific person in order to identify who is responsible for what.
Update Your Marketing Strategies
It is important to review and update your marketing plan from time to time. Business environments are constantly changing and new media channels are frequently emerging, affecting the way consumers think and behave. This means that old marketing plans may no longer complement your business and can affect it in a negative way.
For more information about developing a marketing plan for your business, contact our team of experts at Dyagonal.
Email info@dyagonal.com or call T: +971505354612