Business Marketing Plan: 5 Proven Benefits + Must Read Basics
“If you don’t know where you’re going, any road will get you there.”- Lewis Carroll
Before advertising your business, it’s advisable to have a well-thought-out marketing plan ready to take you through each step of the process. A sound marketing plan gives the business owner an unmistakable well-defined approach to win more customers, increase sales and boost brand awareness.
Marketing is how you get your clients or customers to buy your services or products. Any business operating without a marketing strategy is equivalent to taking a leap in the dark.
As your business grows, you’ll analyze what worked and what didn’t in your marketing plan and make the necessary changes.
What Is a Marketing Plan?
A marketing plan is a business plan of action that details how you will create awareness about your products or services and entice customers.
Business owners refer to their marketing plan when making concrete business decisions. It keeps your employees focused on the same goals. An organization can present its marketing plan to interested investors when forming partnerships with them, or when showcasing its latest product or service.
You can create a marketing plan for a month, quarterly, or a year depending on your business.
So here are……
5 Reasons Why You Need a Business Marketing Plan
- Consistent messaging across all channels
Your communication is clear and consistent, as shown in your emails, social media, and blogs. You should write content that conveys a simple message about your brand. Your customer should be able to trust you and connect with you.
If you don’t have a marketing plan, your online platforms will send out different messages, confusing your customers and hurting your business.
2. It’s everyone’s common reference point
A business marketing plan will help bring all the teams together and explain their role. The marketing plan is your business bible.
It is the place where all team members can find a common reference point. It’s also a reference point for any new team members.
3. Stops you from being reactive
Without a marketing plan, your team is constantly reacting to customers’ requests instead of creating what customers want. You’re letting the customer dictate what happens; you’re letting them take the lead.
4. Enjoy support from your team
Your team is the key to the success of your marketing plan. If no one is aware of your marketing plan, it won’t be successful. It would help if you educated everyone involved.
A business marketing plan helps the team understand the bigger picture, what you are trying to accomplish, and what they should do to help.
5. Saves your time and money
A marketing plan for your business measures your success and helps you decide where to invest your time and money. It’s a blueprint that guides you through the many twists and turns of the journey.
You can decide if you need to make adjustments in how you spend your marketing money. The plan helps you determine whether you are making good business decisions or whether you need to make changes.
Let’s find out…..
Parts of a Marketing Plan
- Executive summary
The first opportunity to express what your business is and what you want it to become. It conveys the business mission, vision and values.
2. Business description
Include your business name, location, brand message, and your name. The goal is to present you as the leader of the venture.
3. Describe your product or service
You’ll need to pay attention to the minor details. What makes your product/service unique? What problem does it solve?
4. Know your clientele
A marketing plan will include information on who your customers are, their gender and age, lifestyle choices, and geographical location. You know them well and have studied how to market to them best, so you can develop a marketing strategy that is tailored to their needs.
5. Measurable Objectives
What growth do you want to see in your business? It can be more customers, increase in your range of products or services. You must be able to show a clear link between your aim and measurable results.
6. Marketing tactics
With your goals and target market in place, the next step is planning your campaign. Aim to grab your audience’s attention, inform them about your business and turn them into customers.
7. Budget
What are your expected marketing expenses? Will you need to hire an outside marketing company for your campaign?
Do you plan to attend conferences or trade shows to connect with other business owners? List all your planned expenses for these events.
Once you’ve got it taped….
Voila! You have a basic marketing plan. Adapt it to your business needs, be diligent in updating it and record the results.
To Sum Up
Startups and small business owners struggle to get new customers. Either they aren’t able to get their message across, or they’re so busy running their business that they don’t have time to learn and develop their marketing skills.
If you want to grow your business, you need to spread the word about yourself and your products or services.
A marketing plan helps you focus your efforts on the most profitable areas, and it can help you choose the best time of year for your marketing.
So give it a go. What’s stopping you?
