Despite the wisdom and many benefits of creating a rock-solid marketing plan, almost all marketing plans contains the same fault: They're written to cover a year-long period, but in inevitably, circumstances change, sometimes dramatically, during those 12 months. And many of those changes are significant enough to render some or all your brilliantly crafted plan incorrect or obsolete, especially in such uncertain times as our current situation. Therefore, it is exceedingly common to alter your marketing plan, or at least several of its tactics, to adjust midstream based on current market conditions and the results of implemented tactics to date.
So, what are some key items to be considering with a new marketing strategy?
Research your Market
What is your competitive advantage or unique selling proposition? What are the current and projected market conditions that may influence your strategy? Gaining a clear image of the market in which you operate is a critical step in creating a marketing plan, as it allows you to compare yourself against your competitors in the scheme of the industry, identify potential opportunities and reduce risk to your business.
Research Your Target Audience
Researching and understanding your target audience is another key part of a marketing plan. As part of your research, it is effective to define your audience in detail as well as any information you can find about them. Your audience will generally depend on your business goals, for example, if your goal is to increase current customer transactions, then your target audience would be current customers. On the other hand, if you are looking to increase your client base, you will need to define a new audience and direct communications towards them. One great way to communicate to your Target Audience is by effectively conveying your brand through your uniform and corresponding company attire.
Media
The media you will choose should be based on your research, however your budget will most likely dictate the ultimate strategy. Regardless of the size of your budget, if you know a channel works for your business, use it to promote your brand. When used effectively, cheaper options have the potential to bring in a higher ROI. As Zoom, Microsoft Teams and Online Digital Channels start to take over as routine, it is important to maintain awareness through clothing, branding, and professionalism to engage with your clients successfully.
Action Plan
The next stage is to create an action plan based on your research. The action plan needs to be a detailed, step-by-step plan of everything that needs to be completed, including who is responsible for each task and when it needs to be completed by. When properly constructed, the action plan allows your marketing strategy to become reality.
Analyse and Adjust
How do you intend to measure the effectiveness of your marketing plan? What analytical tools will you use to measure success post implementation? What KPIs will be most effective for your strategy? Without a proper plan for analysis and reflection, it is impossible to see whether your money has been invested effectively and whether your efforts have had a positive impact on your goals.
Measuring the effectiveness of your strategy not only gives you a realistic view of how your money has been spent but also gives you the opportunity to alter your approach where necessary. After all, the purpose of marketing is to accomplish something, to achieve a goal. If your marketing plan is returning poor results then it’s time to try something new.
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