When writing your marketing plan, set clear and measurable objectives, allocate responsibilities, include budgets and action plans. Update your plan regularly to reflect the current position of your business and the market/s you operate in.
Include the following key elements to develop your marketing plan.
- Business analysis – align your marketing plan to the overall business objectives, goals, strategy and vision.
- Marketing objectives – set your objectives around your marketing/business strategy. What do you want to achieve? Your objectives may be financial (eg: increase sales) or marketing focused (eg: increase web traffic) and should be SMART – Specific, Measurable, Achievable, Realistic and Timed.
- Specific activities and/or campaigns – plan the activities and campaigns you will implement utilising the marketing tools and channels available to you. What activities will help you achieve the marketing objectives you set?
- Budgets – fix a budget to each of your marketing activities. What will each activity or campaign cost to implement and run? Generally, 5% of your annual turnover should be allocated to marketing your business. Consider which activities should have more or less budget allocated to them given their ability to create revenue for your business.
- Targets – set goals for each or your marketing activities or campaigns.
- Time lines – decide the timing for the implementation of each of your activities and campaigns. Create a calendar of activities to keep you on track and help to integrate activities and campaigns.
- Monitor, measure and evaluate – regularly review the impact of your marketing activities. Is each activity or campaign tracking against targets? If not, does the activity or campaign need optimising or should it be scraped all together?