by Asena Hristova
Regardless whether you’re a small or a medium size business owner, you should think of your marketing. But where do you start? One of the first things you need to think of is building a marketing plan.
Effective marketing requires planning, and in order to generate good strategies you need to know not only what you want, but why.
To understand why a marketing plan is so important you first need to understand what it is.
So, what is a marketing plan?
It is a report that will help you organize your marketing strategies and execute and track the actions taken. This will help you complete the marketing and advertising goals you have set for a certain period of time. It can be created and reviewed on a yearly, quarterly or a monthly basis depending on your business dynamics.
A good business plan will help you define the direction of your company whereas a marketing plan will help you understand how to get there. It outlines the marketing strategies, tactics, and costs.
Why do you need a marketing plan?
Think of it as a strategic proposal that will guide your campaigns, goals, and business growth.
With a good report, you can:
- Follow up on marketing activities and understand what works for you and what doesn´t.
- Conduct analysis of your market and target audience and make informed decisions.
- Adapt your marketing strategies and tactics to the occurring changes.
- Create and keep track of relevant KPIs.
Marketing Plan VS Marketing Strategy
Creating a marketing proposal will guide you through the important steps leading to an effective marketing strategy.
The marketing strategy describes how you plan to complete a particular goal, using certain tools and channels. Where is your business positioned? What is your target audience? Which channels do they use? These are all questions that need to be answered with a good marketing strategy.
On the other hand, the plan guides you on how these strategies are going to be implemented. One marketing plan may consist of different marketing strategies and there are different types that you could consider.
For example, your Paid Marketing plan highlights different paid strategies such as PPC and Facebook ads.
Google VS Facebook
When it comes to paid advertising, most people look at it as Facebook vs Google advertising.
While the strategies for these channels differ, it is the marketing plan that unites them together in a high-level scheme that guides the direction of your marketing efforts. Both these tools have strong sides as well as disadvantages but united they can get you to reaching superior marketing results.
Coming up with such strategic report is the secret to fully using the power of each of these channels, and let each channel help the other. It shows you the bigger picture and it highlights a way to unite different strategies in one bigger marketing force.
A marketing plan is a blueprint of the communications and activities you need to consider to be on the right track of reaching your marketing goals. A good strategy can help you clearly define and communicate your goals as well as keep track of whether your tactics and actions are relevant.
However, just writing an official document won’t be enough. To ensure your success you must implement these activities and constantly improve.
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