Marketing Plans

News and Articles About Marketing Plans

Destination Is the Difference Between Content and Content Marketing
Content Marketing

Destination Is the Difference Between Content and Content Marketing

In order to reach, engage and convert new customers, you have to create content people actually want -- and attract them to a content-marketing destination.
Michael Brenner
7 Marketing Mistakes That Could Sink Your Business
Marketing Mistakes

7 Marketing Mistakes That Could Sink Your Business

Businesses live and die by their marketing strategies. Be sure to have the right plan in place.
John Lincoln
5 Tips to Get Your Product or Service Noticed
Marketing Strategies

5 Tips to Get Your Product or Service Noticed

Influences, testimonials and fact-based arguments are all potential friends for the task before you.
Doug and Polly White
How to Convince Customers to Buy From You and Not the Competition
Growth Strategies

How to Convince Customers to Buy From You and Not the Competition

Is your unique selling proposition strong enough to make your customers sit up and take notice? If not, these tips will help you create one that is.
Robert W. Bly
How to Create a Positioning Statement That Stands Out
Marketing

How to Create a Positioning Statement That Stands Out

Find out how to position your business in order to gain an edge with your prospects.
Robert W. Bly
What You Need to Know About Your Competitors to Beat Them
Marketing

What You Need to Know About Your Competitors to Beat Them

If you don't know who your competitors are or anything about them, you can't convince your customers you're a better choice.
Robert W. Bly
Essential Information to Collect on Every Prospect and Customer
Marketing

Essential Information to Collect on Every Prospect and Customer

By gathering key data about your customer base, you reduce your costs and improve marketing results by targeting only those prospects who are the most likely to buy from you.
Robert W. Bly
The Biggest Selling Mistake Business Owners Make
Marketing

The Biggest Selling Mistake Business Owners Make

If you don't know your ideal customers like the back of your hand, you won't be able to meet your customers' needs better than your competitors.
Robert W. Bly
The 3-Part Elevator Pitch Formula You Need to Know
Marketing

The 3-Part Elevator Pitch Formula You Need to Know

You need to describe your business and your unique selling proposition in 30 seconds or less. Here's how you do it.
Robert W. Bly
Vision Statements: Why You Need One and How to Create One
Marketing

Vision Statements: Why You Need One and How to Create One

To create a marketing plan that delivers the lifestyle you want from your business, you need a clear vision of what your ideal lifestyle would be. Find out how to write one that spells out who you are.
Robert W. Bly
8 Reasons Why Your Marketing Sucks
Marketing

8 Reasons Why Your Marketing Sucks

Marketing is an enigma. It's both art and science, creative and analytical, intuitive and logical, amorphous and tangible. That's probably why it mystifies most.
Steve Tobak
4 Secrets to Starting an 'Idea Epidemic'
Viral Marketing

4 Secrets to Starting an 'Idea Epidemic'

Remember the Ice Bucket Challenge? Can you match that?
Patti Johnson
4 Ways to Integrate Direct Mail Into Your Digital Marketing Landscape
Direct Mail

4 Ways to Integrate Direct Mail Into Your Digital Marketing Landscape

Direct mail's response rate is 3.4 percent, vs. email's 0.12 percent. Maybe it deserves a second look.
Mike Tinz
Free Options to Popular Paid Marketing Services and Tools
Tools

Free Options to Popular Paid Marketing Services and Tools

Call it the $0 marketing stack.
Kevan Lee
Marketing Plans

A marketing plan is a strategy that articulates key information for a business to attract and retain customers, such as who the company’s target customers are, how to reach them, its unique selling proposition and pricing. 

While there are various types of marketing plans, at the minimum a plan should include:

 

  • Situation analysis: This is a snapshot of a company’s situation. It should describe the company; its products and services; the unique selling proposition and strengths; the market and competitors; and the company’s weaknesses, opportunities and possible threats.
  • Target audience: A descriptive profile of who the prospective customer is in terms of demographics and/or lifestyle.
  • Marketing goals: Measurable goals used to achieve using the marketing plan. For instance, a marketing goal could be: 50,000 visitors, 20 email sign ups and 10 e-book downloads within the next six months from our inbound marketing strategy to reach $100,000 in revenue that is generated from this tactic.
  • Marketing communications strategies: This section is the most fleshed out part of marketing plan and includes detailed plans of the marketing avenues and tactics over the course of (at minimum) a year’s sales cycle. A few examples include permission-based email, loyalty programs and customer appreciation events, among others.
  • Marketing budget: The costs for marketing may come from borrowed or self-financed funds or sales, however a set amount must be set aside to cover the costs of marketing strategy. This section should include a detailed breakdown of how and where these funds will be spent.

 

For new companies that have been in business for one to five years, the article “How to Determine the Perfect Marketing Budget for Your Company” suggests using 12 to 20 percent of the gross or projected revenue on marketing, and companies less than a year old should get some financial runway before spending marketing dollars.

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