The purpose of marketing plan is simple – to create a navigation and communication tool that serves as a roadmap for finding, keeping and growing the value of customers. Because marketing is about creating customers, a marketing plan must be customer centric, that is, it must focus on how to maximize the value to, for, and of customers. Therefore the marketing plan must be developed with the customer in mind. This means you need some information, information about your customers, your market and competition. So while it may seem that a ready, fire, aim approach is faster, if your resources are limited, you may run of out gas before you reach your destination.
A thorough analysis of the opportunities and challenges facing your business and a good understanding of your existing and prospective customers’ needs and wants are a good starting point. When you understand your competition, market, customers, and company you can set a course for maximizing your market opportunities. While there’s no one way to create a plan, certain elements have come to be relatively standard in a marketing plan.
At a minimum these elements include:
1. A situational analysis that summarizes the market, industry, competitive, customer and company assessment and provides insight into the actions needed for the organization to capitalize on opportunities and offset challenges
2. A set of measurable marketing objectives that are aligned with the organization’s business outcomes marketing is expected to impact. The objectives in some way reflect how marketing will positively affect customer acquisition, customer retention, and customer value growth.
3. A strategy for realizing the objectives.
4. Programs and activities with performance targets designed to implement and achieve the strategies and objectives.
5. A calendar and budget
The finished result should be a customer-centric measurable marketing plan that aligns marketing with the business outcomes, identifies, your objectives and provides direction for future marketing efforts that everyone within the organization will understand and support.
The purpose of marketing plan is simple – to create a navigation and communication tool that serves as a roadmap for finding, keeping and growing the value of customers. Because marketing is about creating customers, a marketing plan must be customer centric, that is, it must focus on how to maximize the value to, for, and of customers. Therefore the marketing plan must be developed with the customer in mind. This means you need some information, information about your customers, your market and competition. So while it may seem that a ready, fire, aim approach is faster, if your resources are limited, you may run of out gas before you reach your destination.
So before you hit the road, take some time to step back and answer these questions:
Where you want to go? – (how many and which customers do you need to acquire, which customers do you need to keep, which customers can you grow).
What is/are most effective and efficient routes to get there?
What obstacles might you encounter along the way and how you might overcome these?
What resources do you have and do you need to make the trip successful
A thorough analysis of the opportunities and challenges facing your business and a good understanding of your existing and prospective customers’ needs and wants are a good starting point. When you understand your competition, market, customers, and company you can set a course for maximizing your market opportunities. While there’s no one way to create a plan, certain elements have come to be relatively standard in a marketing plan
At a minimum these elements include:
1. A situational analysis that summarizes the market, industry, competitive, customer and company assessment and provides insight into the actions needed for the organization to capitalize on opportunities and offset challenges.
2. A set of measurable marketing objectives that are aligned with the organization’s business outcomes marketing is expected to impact. The objectives in some way reflect how marketing will positively affect customer acquisition, customer retention, and customer value growth.
3. A strategy for realizing the objectives.
4. Programs and activities with performance targets designed to implement and achieve the strategies and objectives.
5. A calendar and budget.
The finished result should be a customer-centric measurable marketing plan that aligns marketing with the business outcomes, identifies, your objectives and provides direction for future marketing efforts that everyone within the organization will understand and support.
About Nathan Kaiser
