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Marketing Plans. Your Roadmap to Success.
When was the last time your organization made a capital expenditure without first making a plan for that investment? Probably never, because spending without planning is foolish and wasteful. Despite the fact that nearly everyone acknowledges that planning is important to success, a recent study by Marketo, a leading marketing software company, found that more than a third of all marketing executives “do not have a documented marketing plan.”
While ad hoc or “gut feel” tactics can be successful, they can’t totally replace well-thought out plans. If you don’t take the time to assess each part of your marketing strategy and how it addresses your organization’s goals and objectives, you are most likely wasting time and money. Plus, you won’t get the results you – and your organization – want. As noted marketing expert Philip Kotler wrote: “…planning turns out to be an intrinsic part of good management.”
So where do we start?
The first step in successful marketing planning is reviewing what has happened, what is happening, and what might happen. Second, set goals and determine how progress will be measured. Next, make sure everyone who interacts with the marketing team has a firm understanding of the plan. Finally, you need to take action when the goals are not being achieved.
Here are just some of the benefits of planning:
- Identifies sources of competitive advantage and disadvantage
- Forces an organized approach
- Ensures efficiency
- Procures resources
- Gathers support for initiatives
- Increases sales
- Measures progress towards objectives
If marketing plans are so helpful, why don’t more organizations create them? It turns out effective marketing plans come at the price of blood, sweat and tears. That’s where Big comes in. If you understand and appreciate the value of a marketing plan, but feel overwhelmed by the process of creating one, let us help. Together, we can make 2019 your most effective marketing year yet.