10.1 Introduction
As we have now looked at both online and offline marketing methods and what they can bring to your business, it is important to now collate the information, in order to create your very own marketing plan. This is where your research pays dividends because it enables you to set goals and work out the different steps that you have to take to achieve them. Although you will create a plan you may still run into problems, however, the plan will help you to get back on track; should you lose sight of where your marketing is heading.
10.2 Why You Need a Marketing Plan
Without a marketing plan you are likely to face disaster.
A marketing plan works in the
same way as a business plan; both are important for the success of your
business. However, a marketing plan is more laser-focused, dealing with just
one aspect of your business: the marketing of your products or services. Your
marketing plan will act as a true guide and help to 'keep you on track'. Why is
this so important?
If you veer off your chosen path, you will spend money in the wrong areas and target the wrong people, possibly without being aware that such a problem exists. As a business this could be disastrous but a marketing plan will prevent this from happening. You need a marketing plan for a number of reasons and, for the small business owner or an individual that is new to the world of marketing, it is essential to be aware of what those reasons are.
It acts as your guide to promote and grow your business.
It is extremely difficult for any
individual to really grow their business if they attempt things unplanned. You
can become misguided, make mistakes and lose track of where you are supposed to
be. Follow your marketing plan just as you would your business plan. If you do
not have a guide then your business and marketing will spiral out of control,
which can prove costly.
It aligns your marketing with your business goals.
Remember that continuity is key.
By creating a marketing plan, it allows you to ensure that your strategies for
boosting your business are aligned with your business goals. If you are unable
to link the two it will cause difficulty, as your business could head off in
two different directions.
It forces you into making big decisions.
As with your business plan, the marketing strategy will force you into making some major decisions as to the techniques and methods that you plan on using.
*It will make you think about the social media websites to look at and how involved you will be.
*It will force you to come to terms with your target market and how to access it.
*It will make you think about what you are willing to spend and to get the best out of your cash.
In other words, a marketing plan will define how your business is to be shaped, so you can understand why it is not something that you should rush into. Are you being effective with your resources?
This refers to your budget, as a marketing plan should consider whether or not your resources are being effectively managed so you can attain the absolute maximum out of your budget, or else you are going to hinder yourself. Do you feel that you are getting the absolute maximum out of your resources or could you do better? These are a few of the questions that you should be asking yourself when it comes to the reasons behind your marketing plan. You also need to think about your own individual reasons for the existence of your business - to clarify why you are seeking to create a successful marketing strategy in the first place.
FACT
88% of B2B marketers currently use content marketing as part of their marketing strategy, yet only 32% have a documented content marketing strategy.
Source: Forbes
10.3 The Basic Structure of a Marketing Plan
After having explained why you need a marketing plan in the first place, we will take you through the basic structure that you may emulate when creating your own version. This structure is a guide only, as each company is unique as is each marketing plan. However, there are certain sections that should be included at some point, to make it easier for you to identify where you are in your strategy.
Situation analysis
In any marketing plan or strategy, there must be a section known as situation analysis. This is the part of your plan where you analyse either the product or service that you provide and its place in the market. What is your market? What are the current trends? Who is your competition? What makes you stand out from them? Analysing your situation makes it easier for you begin to formulate a plan that is viable from the outset.
Target market
It is important to clearly define within your marketing strategy who your target market will be. You have to know to whom you are effectively selling, in order to then locate them and deliver the correct message. To which gender are you appealing? Are they married or single? How old are they? You need to ask yourself questions, to best identify those individuals on whom you have to focus. Studying your target market and being able to narrow it down in this way will help you to connect with it through your marketing.
Market strategy
After discussing your target market, you must plan on reaching it and convincing it to purchase your products or buy your services. This is going to include the Four P's of marketing that we discussed earlier and, by the end of this section, you should have a better idea as to the direction in which you are heading and the steps that you need to take in order to reach your objectives.
Objectives and tactics
This is another important section of your marketing plan which allows you to identify your goals and aims. You need to fully understand how you will implement your marketing strategy, so it is important that you spend a considerable amount of time on this section, in order to identify every step that will ultimately allow you to reach those objectives. However, there should be some interaction between both the objectives and the tactics, with each feeding into the other and both driving you on.
Sales and budget
The idea of including information on sales when dealing with a marketing plan is something that a number of people argue against but, in actual fact, it is a good idea to discuss it albeit briefly. You should include information about the budget that is being set aside because that is going to determine the spend for the campaign or campaigns that you are able to put together. Including sales forecasts will help you put together ideas as to how much money you are spending and the kind of sales you should perhaps expect from that money.
Each section is going to be rather detailed and you will understand why when you consider the information included. We will also discuss something else that is important in today's world of technology and that is the need for an online marketing plan; which will be different to the normal type that may be familiar to you. Bearing that in mind, the kind of structure you should be looking to use in this instance would include the following.
Target market and identifying clients
The first thing is to understand the target market and how to quickly identify these customers or clients. The attention span of people online is regarded as being extremely short so you must be able to grab their attention as early as possible. This is where your research really does come into play because you need to know who these people will be and where they will be found online.
Your message
Identifying your market is one thing but understanding the message that you wish to convey is something completely different. Once again, you need to remember that you have seconds only to grab their attention or they will go elsewhere. Hence there is some pressure for you to get things right immediately. Make sure that the message that you convey is clear and easy to understand, checking also that the message is appearing on all of your internet online marketing activities, as consistency is everything.
The niche
Due to the sheer size of the marketplace on the Internet, it is more important than ever to be able to identify your own particular niche. This is especially true when it comes to small businesses that are trying to access a particularly large market and yet do not have the finances that will allow them to do so. Being aware of a niche that you could target will give more of the correct type of exposure and that can only be a good thing for your marketing strategy.
SEO
When it comes to an online marketing plan you cannot ignore SEO (Search Engine Optimisation). This will be at the very heart of the amount of exposure that you will get, because it not only relates to a website but also to any text about your products/services and advertisements that you may have put on the Internet. It is all linked to key words that people type into a search engine and then they are shown your adverts or site.
The good news is that the people who are searching using certain terms are going to be interested in what you have to offer because they have actually tried to search. It is then up to you to provide the correct information for them to read which will hopefully lead to them being converted into customers or clients that are willing to spend money with you.
Content and editorial
This refers to the content that you put on websites such as social media or perhaps a business blog. You need to mention what your aims are regarding the content that you include and that is all due to the concept of continuity. If the content you include is haphazard then people are going to think exactly the same thing about your products or services and that is not a good thing.
As you can see, there are some differences between both types of plans and yet they are both equally as effective in their own particular industries. The key is to understand what you are going to do with your marketing and then take these general ideas for different sections and incorporate as many as possible to build a marketing plan that is not only viable but is also capable of producing results.
Look at other marketing plans or strategies to get a better idea how other companies construct their own versions. You will find it difficult to identify strategies from companies that have been used in real life as they are generally kept secret but you should always do some research - even just into how to put a plan together, never mind the details that go into it because it will make things go more smoothly.
10.4 How to Include that Information in your Plan
Next, we look at how to include in your plan all the information that you have gleaned during your research and begin to make sense of everything. This is one part of your marketing strategy over which you have to take some time as this is where everything comes together and you will have some indication as to what you need to do to present your business to the correct people.
In order to include this information, the most important thing is to have all your market research in front of you. If you have done things correctly you should have a large amount of information that you could potentially use. We also recommend that you have a sample marketing plan in front of you because, even though you are not going to copy it directly, you can get a sense of what to do next by referring to it. In order to include that information in your plan, it is important to think about the following key points:
It is your plan so you can include whatever you want.
It has to be stressed that the marketing plan is just for you so you can make it whatever size you wish. You can include any information you wish, as long as you are able to locate that information and interpret it in the correct manner. Start with general terms then move on to more specific points.
When you have your structure in front of you, it will always be easier to include the more general points as the basis of each section and then go back and fill in the finer points that focus on the details. This allows you to slowly grasp each section. It is all too easy to get weighed down in the details if you get stuck on one section.
Be methodical.
Consider the importance of what will be included in your marketing plan and be methodical in your approach. Ensure that you include the research that you conducted (and which can assist in the development of your business), so you can benefit from all your hard work. If you were involved in the creation of your initial business plan, remember that it probably went through several versions before you were finally happy with it and the same can apply here. Nothing is set in stone so, if you are unhappy with your marketing plan, then change it – and its best to do so before you have put it into action.
Read it then reread it.
Do not rush in your desire to get the plan finished and put into action. Read what you have included in your plan, check your facts and figures and then sit back and reflect on it. Making the right decisions will only boost your business. The information that you have collated prior to this point must be conveyed in a clear and easy to follow manner, to avoid any confusion when it comes to putting things into action. A good marketing plan or strategy has to be easily accessible and capable of providing you with instant answers. If this is not the case then you have a problem and it is time to recommence your strategy and rethink things.
10.5 Putting the Plan into Action
Finally, we look at how you put the plan into action. It is all well and good working it all out and putting your ideas in writing but, if you do not take action, you will have wasted the time and effort you put in to the plan, which is not conducive for your business. The part about putting the plan into action should also be included within the plan itself, as mentioned earlier in the module. It is all well and good thinking up the ideas but they remain ideas only, until you implement them. When putting your plan into action, it is important to think about the following parts:
It is possible that having put so much time and effort into researching and developing your strategy you may have glossed over certain parts and forgotten what your goals are. That is why you must read over your plan a number of times before you proceed. If you have any questions or are unsure about anything, then now is your time to check things through. If you do not, then, once you have started, any mistake may prove costly.
Start basic and set the correction foundation in place.
It is important to have the correct foundations in place to enable you to action your marketing strategy, or you stand a chance of you plan being unsuccessful. Put the correct foundations in place before you begin to think about building in other things, as failure to do so will only increase your chances of making a mistake that could be difficult to rectify.
Keep grounded.
It is fine to be excited about the possibilities that lie ahead of you but, at the same time, it is absolutely essential that you keep your feet firmly on the ground because failing to do so will lead to a greater likelihood of making mistakes.
Ask for help when required.
Asking for help is not a bad thing and if you feel that this is the case then you are greatly mistaken. Instead, it shows that you have a willingness to do things correctly from the very beginning and that is something to be admired. Get help from those that have more knowledge or experience in a certain area and you will benefit as your plan develops.
Keep a close eye on things.
Finally, as you put things into action you must keep a close eye on progress because you want everything to go as smoothly as possible from the outset. Set up different aspects of your plan and monitor the initial progress. Be prepared to tweak things if necessary.
In short, the key to successfully implementing your marketing strategy is to be careful and methodical in your approach at all times. Accept that you may require some assistance to get things moving and monitor the initial progress. A plan has to be 'fluid' in nature to ensure that things go as smoothly as possible. Remember, the world of marketing and the methods that work change all the time. Stay on top of your game by adapting your strategy to meet current trends, in order to get the most out of it.
MODULE SUMMARY
In this module, we focused primarily on the need for you to create a marketing plan and how to go about doing so. It is very important to stress that you cannot rush this part of your business as it really is make or break as to whether or not you will ultimately prove to be successful. Throughout the modules thus far, we have mentioned the need for you to keep your budget in mind and how to cope with the financial restrictions that may be placed upon you.
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