“Is a marketing plan important?” I get this question all the time and here’s what I say.
Marketing Plan. Two words that are thrown around and some seem to think there is no use for one, but they don’t know what it means to have one. It has been said that the most vital aspect of any business is the marketing plan.
A marketing plan clarifies the key marketing elements of a business and maps out directions, objectives and activities for the business and employees. The marketing plan prepares your business to be proactive in what the market does.
The marketing plan not only focuses on selling a product or service but the plan draws on the broader perspectives outlined in the business plan. The marketing plan helps shape how the company will fulfill its business plan with forward thinking and a unified structure for all.
A well structured marketing plan assesses all of the risks, understands the target audience and the competitors. It will also review the internal elements of marketing including staff knowledge and training.
The key to any marketing plan is accountability, understand the objectives and reviewing them if they are not met. A good marketing plan will set out specific, measurable, achievable, realistic and time oriented goals. These goals should be understood by all in the organisation, everyone from the bottom, up should understand how and why company decisions are being made, this empowers employees and give a strong sense of company belonging and responsibility.
A great marketing plan is a document that everyone can work off, it is a document to reference, to refer to. Ultimately a marketing plan should provide a centralised structure to all business activities.
So, next time someone asks you “Is a marketing plan important?”, what are you going to say?.