Usually when marketing dollars are divvied out with in companies, the knee jerk reaction is to launch the marketing plan immediately because sales leads are desperately need and quick. It could cause some major anxiety to wait and develop the correct, strategic Marketing Plan but the repercussions of not waiting could cause your marketing to fail and deliver a huge blow to your marketing budget. A half of year isn’t needed to create a successful strategy. If the right focus and the right players are in place a successful strategy should be able to be developed in 3 to 6 weeks. The ability to avoid the Marketing Plan rush right away will pay off through developing the correct Marketing Plan and will aide in future campaign launches.
It’s been said before, but it's important to review the basic points your marketing team should consider when developing your strategic Marketing Plan.
What Is Your Mission? First things first, find out what your business and sales and marketing objectives are for the upcoming year. Be very specific. But sure you are including only the critical goals. Ex. revenue goals, product launches, new markets, improving customer service. This is the center of your strategy and will be used to measure the effectiveness of it.
What Is Your Market? Research the industry in which you are going to contend in and gain as much information as possible on market trends and your competition. Focus on the information that is directly related to your company and its products and/or services.
What Your Company’s Identity? Create a clear outline of what your company’s identity is. Have a short and long form statement of what that is. Include in it what your one key brand oath your customers is. Think about what your company stands for and what you want your customers perception of it to be. Decide what makes your company unique and what customers will absolutely be able to expect for your products and/or services.
What Do You Offer? Check and see how your products and/or services are presented and differentiated from your competition. Give a detailed outline of each individual service or product offered.
What Is Your Niche? Outline what your niche markets are and organize them according to their ability to achieve your goals. Analyze which markets have the highest and lowest potential for profit.
Lastly, create a strategy that shows what markets you'll go after first and with what product and/ or services.
Competition. After your initial research is completed, use the competitors info to outline them. Include how they differ from your company and lay out their strengths and weaknesses.
Sales Process. Make a blueprint of how your company conducts sales. Include things like how territories are arranged, the actual process, and what is needed to complete sales goals.
Strategy Mix. After the above work is done and there is a clear consensus about what has been discovered create differing strategies that you will use to implement your strategy. Label the sections, Ex. Brand Image Strategy, Promotions, Market Vision, and describe briefly the items. Then take a calendar and decide when these will be executed over the next year.
3 tips for your Strategy Mix:
Marketing Budget Finally, use your Strategy Mix calendar and your Marketing Mission decisions to create a detailed and itemized, monthly budget.