All things considered, It always surprises me how many business owners do not have a marketing plan. A plan is a series of actions and investments and a blueprint for growth and reinvestment. Without a plan, it is hard to determine return on investment. Your marketing plan should inform educated decisions about how to allocate resources.
Below is a simple guideline for developing a marketing plan that works for your business.
Your Planning Guide:
How to Make Your First Marketing Plan:
- Collect Your Data
Generally speaking, it can be difficult to compile data at first. Most accurately, a good understanding of your audience is gleamed through data. Do your best to find and organize your numbers. Next, It is important to list any current marketing expenses and returns. In the future, there may be a need for more advanced data collection. New marketing plans may require speculation about customer profiles or behaviors.
- Identify and Target Your Audience
Step two is crucial for a successful plan. First, write ‘personas’ of ideal clients. Armed with this knowledge, decide how to spend to maximize revenue. Online research can help identify the behaviors associated with a targeted demographic. Community research will show how to identify and strengthen relationships.
- Execute Your Plan
Next, acquire the help you need, add events to your calendar, and reach out to referral partners. I recommend clients check and add notes to their marketing plan as the year progresses. Maintaining the systems to collect data will help you with the final step in having a successful plan.
- Review Data, Plan Again
After data is collected, owners will be in a better position to calculate return and plan further. By looking at sales and new customer acquisition, it should be clear where the budget was best spent. Resources can be allocated to further invest in the most successful marketing channels while maintaining consistency.
Plan Yourself or Consult?
In conclusion, Making an informed marketing plan and executing it involves time and work. Given these points, If your business is ready for growth, why not trust a professional? On one hand, hiring a Marketing Director can cost a $50k+ salary and expenses of being a ‘traditional employer’. On the contrary, outsourcing these responsibilities reduces costs and grants access to a more qualified professional.
Ready for the Next Step?
Finally, If you are ready to hear how an outsourced Director of Marketing can serve you, hit Contact to start a conversation.