What Is a Marketing Plan?
A marketing plan is an outline of how your business would flow or work through time. Primarily, a marketing plan is your based outline on how are you going to relay your service to your target market. The usual content in a marketing plan includes the following: business’s target market analysis and customer plan, list of your business’ marketing, advertising outcome, and the status of your business' current marketing position.
How to Write a Marketing Plan
In writing your business plan, you need to be accurate and thorough with every data that you put in. The scope of your marketing plan will usually depend on your purpose and the type of business you are planning for. If you are planning to create a marketing plan for your desired business, we provide you here the steps on how to achieve it.
1. Determine Your Company's Goal
In determining the goal for your company, you need to conduct a situation analysis. You need to foresee the expected outcome goal of your company. Start it by basing at your company's vision and mission goals. Ask your self if your company can still provide the expected mission 10 years from now. Through this process, you can now determine the current marketing status of your company.
2. Acknowledge Your Hurdles
By the time that you have fully recognized your current marketing status. The next thing you should do is examine your current advantages and disadvantages. Make sure that you don't let your guard down, create a definite plan by making a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) for potential business. You need to sort and identify them one-by-one.
3. Spot your Potential Market
One primary purpose of having a marketing plan is for you to be able to reach your market. It is very important for you to identify your potential market. Conduct demographic research if it needs to. Know the possible age, gender, location, and even income of your potential customers. You can also identify the psychology aspect of your customers. Identifying your target market allows you to plan the right marketing approach that you want to. If you fail in this process alone, your marketing communication with your audiences will automatically fail.
4. Use Social Media
With the advent of social media and the booming rise of technology, you must also take into consideration having a marketing plan on social media. Social media can be your great ally in the promotion of your business brand. Through the use of social media, you also can fully observe the media behavior of your audience that is essential for your plan. Also, in relation to the third step, if you wish to conduct a demographic survey, you can make use of the social media site.
5. Set the Budget
All of your plans would be nothing if there is no money involved. You may have impressive ideas on how to are you going to execute your marketing plan, but you should not forget that your budget plays a crucial role in the overall outcome of your plan. So review everything and rethink your strategy once in a while.