Every year, do you take a close look at your team’s marketing strategy? You ought to. Things may get chaotic if you don’t have an annual marketing plan, and it’s practically hard to put a number on the money you’ll need to obtain for the projects, recruiting, and outsourcing you’ll experience throughout the year if you don’t have one.
Create a marketing plan
We’ve put together a list of what to include in your plan as well as a few different planning templates where you can easily fill in the gaps to make the process easier.
Conduct a situation analysis.
Let’s start by looking at how to make a marketing plan and then see what a high-level marketing plan contains.
Make a situational analysis.
You must first understand your present condition before you can begin developing your marketing strategy.
What are your advantages, disadvantages, possibilities, and threats? The first stage in developing a marketing strategy is to do a simple SWOT analysis.
You should also have a good awareness of the present market. How do you stack up against your rivals? This phase should be made easier if you conduct a competitor analysis.
Consider how other items are superior to yours. Also, think about the flaws in a competitor’s strategy. What exactly are they missing out on? What can you offer that will give you an edge over the competition?
Know your audience
Make sure you know who your target audience is once you have a better understanding of the market and your company’s condition.
If your organisation currently has buyer personas in place, this phase may merely require you to refine them.
You should establish a buyer persona if you don’t already have one. You may need to perform market research to accomplish this.
Demographic data such as age, gender, and income should be included in your buyer profile. It will, however, include psychographic information such as pain locations and objectives. What motivates your target audience? What are the issues that your product or service can help them with?
This information will help you clarify your goals once you’ve written them down, which leads us to step three.
Know your SMART goals
You can start defining your SMART goals once you’ve sorted out your existing condition and identified your target audience.
Specific, measurable, achievable, relevant, and time-bound goals are known as SMART goals. This means that all of your objectives should be detailed and provide a time frame for completion.
For example, your objective could be to gain 15% more Instagram followers in three months. This should be relevant and feasible, depending on your overall marketing objectives. This goal is also specific, measurable, and time-limited.
You should write down your objectives before you begin any strategy. Then you can start thinking about which strategies will assist you to attain your objective. This brings us to the fourth phase.
Analyse your methods
You’ve written down your objectives based on your target audience and the present situation at this point.
Now you must determine which strategies will assist you in achieving your objectives. What are the best channels and action items to concentrate on?
If you want to boost your Instagram followers by 15% in three months, you may offer a giveaway, answer to every remark, and post three times per week.
It should be simple to come up with many approaches to reach your objectives once you know what you want to do.
However, you must keep your budget in mind while designing your tactics, which gets us to step number five.
Set your budget
You need to know your budget before you can start executing any of the ideas you’ve come up with in the previous steps.
Social media advertising, for example, could be one of your strategies. However, if you don’t have the necessary funds, you may not be able to attain your objectives.
Make a budget estimate as you’re sketching out your strategies. You can factor in the time it will take to finish each technique, as well as any assets you may need to buy, such as ad space.
Now that you know how to make a marketing strategy, let’s look at how to make a marketing campaign outline that will help you achieve the objectives listed in the plan.
It takes a lot of effort to implement a new marketing strategy. To ensure that everything runs well with all of your tasks, construct a timeline that shows when each one will take place.
A marketing strategy timeline allows your team to see all of your projects, campaigns, events, and other relevant tasks — as well as their deadlines — in one location. This ensures that everyone on your team is aware of what’s due, when it’s due, and what’s coming up next. These plans typically involve marketing efforts for the entire year, while other businesses may function on a bi-annual or quarterly basis.