Marketing Plans

News and Articles About Marketing Plans

Stop! Avoid These 4 Mistakes Before You Put Your Small Business on the Map.
Marketing Plans

Stop! Avoid These 4 Mistakes Before You Put Your Small Business on the Map.

While market saturation is often a deterrent for small-business hopefuls, it doesn't have to be. Here's how to compete.
Aj Agrawal
7 Things I Wish I Knew When I Began as an Entrepreneur
Entrepreneurship

7 Things I Wish I Knew When I Began as an Entrepreneur

Risk comes with the job, but you don't have to take every gamble.
Brian Roberts
3 Reasons Why Small Businesses Crash and Burn Online
Digital Marketing

3 Reasons Why Small Businesses Crash and Burn Online

One size does not fit all in the digital world.
Ben Simkin
The 7 Worst Reasons for a Content Marketing Campaign
Content Marketing

The 7 Worst Reasons for a Content Marketing Campaign

Doing the smart thing for the wrong reasons is just dumb.
Renée Warren
5 Predictions to Guide Your Marketing Plan in 2017
Marketing Plans

5 Predictions to Guide Your Marketing Plan in 2017

You'll need to get quicker and more agile. And then you'll have to tap into the power of already-established, credible voices within the communities you hope to capture.
Ellie Martin
10 Bad Holiday Habits You Must Break
Holidays

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

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

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 Strategies

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
Take It From The Pros

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
Market Research

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

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

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
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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