Marketing Plans

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

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 Bootcamp

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'
Marketing Bootcamp

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
Marketing Bootcamp

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
How to Develop a Plan of Attack for Your Content-Marketing Strategy
Marketing Bootcamp

How to Develop a Plan of Attack for Your Content-Marketing Strategy

Without a visible road map, you're guaranteed to overlook crucial steps and miss out on potential opportunities for ROI.
Kelsey Meyer
5 Ways to Tell When, and When Not, to Stick to the Plan
Business Planning

5 Ways to Tell When, and When Not, to Stick to the Plan

When should you pivot? And how can you tell when it's better to stand still?
Tim Berry
How to Make Time for Social Media Marketing
Marketing Bootcamp

How to Make Time for Social Media Marketing

A small-but-regular effort to build a social media presence can pay substantial marketing dividends.
Brett Relander
10 Things Your Website Needs If You Want to Attract the Wealthy Customer
Marketing Bootcamp

10 Things Your Website Needs If You Want to Attract the Wealthy Customer

A look at how to turn your website into an effective marketing tool for your business.
Dan S. Kennedy
Why You Need to Focus on Focus in Your Marketing Plan
Marketing Bootcamp

Why You Need to Focus on Focus in Your Marketing Plan

Don't take it for granted. Without it, your plan will lack a mission and purpose.
Jim Joseph
The Best Way to Connect With the Affluent Customers You Want
Marketing Bootcamp

The Best Way to Connect With the Affluent Customers You Want

To find the affluent target market you're seeking, you have to know where to look. One marketing expert shares how.
Dan S. Kennedy
Finished Your Marketing Plan? It's Time to Share It With Your Partners.
Marketing Bootcamp

Finished Your Marketing Plan? It's Time to Share It With Your Partners.

You didn't build your business alone, so write a business brief that lets your other players know what to do next for your marketing.
Jim Joseph
6 Benefits of Mission-Driven Marketing -- And How to Do It Right
Marketing Bootcamp

6 Benefits of Mission-Driven Marketing -- And How to Do It Right

By buying from a company that's actively doing something praiseworthy, affluent consumers feel they're helping out as well-without having to do anything other than make a purchase they were going to make anyway. Find out how you can align your company with a cause they'd like to support.
Dan S. Kennedy
Successful Marketing Plans Leave Room for Flexibility
Marketing Bootcamp

Successful Marketing Plans Leave Room for Flexibility

Your marketing plan isn't finished until the year is over when you have to start writing it all over again.
Jim Joseph
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.