Happy February! As my valentine to you, I wanted to chat about marketing planning. Many traditionally finalize marketing budgets—and hopefully, marketing plans—in the previous quarter. However, if ending the year strong, the busy holiday season, and settling into the new year took time away from your planning process, there is no time like the present!
Before we go into some of the essentials of crafting a strategic marketing plan, I wanted to rehash some of the themes in my past Business Voice articles. Think of these pieces as conversation hearts to munch on while you’re spending time on your communication initiatives and goals for the year. Remember:
The American Marketing Association defines marketing as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”
Marketing is all about the mix—the right grouping of both digital and traditional communication activities—that is unique to every organization.
A clear value proposition is invaluable for showcasing what your organization does better than anybody else.
Components of a Strong Marketing Plan
Even when a client has an existing marketing plan, I like to make sure some key pieces are in place. These include documenting essentials such as brand look and feel, as well as key messages to defined target audiences. The basis of the key messages (which can include taglines) is built on the foundation of a clear value proposition.
Once the brand essentials and value proposition are solid, then the annual marketing plan begins to take shape. What is the goal of your organization in this period? Is it reaching more customers? Is it promoting your mission to a wider audience? Whatever this objective may be, it is imperative to align it with the marketing plan. And the good news? The marketing plan is a living document. As the year progresses, goals are met, and strategies evolve, so does the plan.
So, you’ve determined your business problem/opportunity and the desired outcome. A strong marketing plan will have documented solutions; these are the tactics within the plan. For example, if creating awareness of your product is a big annual objective, the strategies within the plan will document the tactics, tools, and channels to increase the knowledge and credibility of the solution.
Speaking of channels, there is a wide variety of communication media available to share your brand message. Within your marketing plan, you’ll want to outline the planned use of both digital and traditional channels, such as website, blog, video, social media, email, out of home (also known as outdoor media, like billboards), print, television, etc. And within each piece, consider the metrics to measure success. These include Google Analytics, engagement numbers, impressions, shares, and open rates.
Taking the time to outline marketing initiatives may seem like a time-intensive endeavor, but it is a critical step in meeting annual organizational goals. With practice and leveraging it throughout the year, the marketing plan is at the heart of any strategic planning and can be essential in growing your business.
This post was originally written by Shan Bates-Bundick for the Vegas Chamber’s February 2020 Business Voice magazine. Click here to view the original article.