Marketing Plans

News and Articles About Marketing Plans

10 Bad Holiday Habits You Must Break
Make More Happen

10 Bad Holiday Habits You Must Break

To be profitable, you have to shake the bad business practices.
John Rampton
Does Your Small Business Really Need a Marketing Plan?
Marketing Bootcamp

Does Your Small Business Really Need a Marketing Plan?

There's no use in denying it -- marketing is a critical component of a small business' success.
The Basics of Multi-Location and Franchise Marketing
Marketing Bootcamp

The Basics of Multi-Location and Franchise Marketing

Focus on making individual businesses and the corporation thrive at the same time.
Scott Langdon
Marketing Addiction Is the Struggling Entrepreneur's Pitfall
Marketing Bootcamp

Marketing Addiction Is the Struggling Entrepreneur's Pitfall

Focus on your own business strategy. Don't waste time and money keeping up with everyone else.
Heather Markel
The 4 Things You Need to Do to Make the Platform Play
Moving to the Platform

The 4 Things You Need to Do to Make the Platform Play

How to transition your SaaS business for a platform sell.
Kyle York
Why the Rich and Famous are on Fire for Emojis, and Why Brands Should Care
Make More Happen

Why the Rich and Famous are on Fire for Emojis, and Why Brands Should Care

It's all about the cash and cachet. Stephen Curry, Justin Bieber and Blac Chyna are the latest stars to keep up with the Kardashians in the keyboard invasion game.
Kim Lachance Shandrow
The Only True Way to Become a Marketing Genius
Marketing Bootcamp

The Only True Way to Become a Marketing Genius

Whatever the strategy, whatever the product, whatever the decision, test it and let the the results guide you to success.
Perry Marshall
The 4 Essential Elements of a Franchise Marketing Plan
Marketing Bootcamp

The 4 Essential Elements of a Franchise Marketing Plan

If you include these elements in your marketing plan, you'll be one step closer to finding interested prospects for your franchise.
Mark Siebert
How to Create a One-Year Marketing Plan
Marketing Bootcamp

How to Create a One-Year Marketing Plan

A 12-month plan can put you on the right path to marketing success. Find out what you need to create one that works.
Robert W. Bly
Destination Is the Difference Between Content and Content Marketing
Marketing Bootcamp

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 Bootcamp

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 Bootcamp

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
Marketing Bootcamp

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 Bootcamp

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
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.