How to Make a Marketing Plan for your Business

November 30, 2018

 

An annual marketing plan will help you set your marketing on the right course so that your business goals turn into a reality. A marketing plan is a high-level plan that will guide you in the direction of your business’s campaigns, goals and growth. If you don’t have a marketing plan then things can get messy, it’s pretty much impossible to put a number on the budget that you need to secure for business project, hiring, outsource and more! 

Depending on your industry and the goals you want to achieve then there are many variations to a marketing plan. We’ve made it easier for you by putting together a list of what you need to include in your plan no matter what your business is.

 

Business Summary 

The first thing you need to put into your marketing plan is a business summary, this is just a summary of the organisation, so it will include your company’s name, where you’re based and a mission statement which should be consistent with the business as a whole. You will also need a SWOT analysis which stands for your business’s strengths, weaknesses, opportunities and threats. You will write most of the SWOT analysis based on how you fill out the next marketing plan elements…

 

Business Initiatives 

This is all about the various goals of your business, but don’t include big-picture company initiatives as these go in a business plan. This will help you outline the projects that are specific to marketing as you will describe the goals of those projects and how those goals will be measured. 

 

Target Market 

This is basic market research, if your business has already done a detailed market research study then this will make your marketing plan easier. 

This part of the plan will help describe the industry that you want to sell to, an analysis of your competitors and your buyer persona. A buyer persona is a fictional description of your ideal customer, it will show you traits like age, location, their job and personal challenges. 

 

Market Strategy 

This will include the information that you used for your Target Market section, but it will describe how your company will approach this market. This section needs to contain the “seven Ps of marketing.” These are product, price, place, promotion, people, process and physical evidence.

 

Budget 

Your budget will show you how much money the business has allotted the marketing team to pursue the initiatives and goals that you have already put in your marketing plan from above. This doesn’t include the products or services price or other company financials. You should consider itemizing this budget by what specifically you will spend this budget on. 

 

Marketing Channels

This is where you will figure out where you will publish the content that educates your buyers, generates leads and spread awareness of your brands. Use this section to plan which social networks for ad how you’ll measure your success on this network! 

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