May 11, 2019

Establishing a Marketing Plan

Establishing a Marketing Plan

Senior management dictates a company’s strategic direction or mission and the marketing plan is developed to effectively support that direction.

Marketing strategies are also established to support and sell a company’s products or services while supporting the company’s overall business strategy.

Creating a strategic marketing plan is easier when you use a linear ten step approach. So …

  1. Develop a clear well-articulated mission statement
  2. Determine the company’s revenue and financial goals
  3. Conduct an internal and external audit consisting of interviews and review of all communication tactics
  4. Perform a SWOT… Strengths, Weaknesses, Opportunities and Threats analysis and evaluate industry positioning
  5. Develop assumptions and hypothetical scenarios from the audit and SWOT analysis
  6. Establish marketing and communications objectives based on the assumptions
  7. Project result expectations
  8. Identify alternative or strategic options
  9. Establish a realistic annual marketing budget … key word here is realistic
  10. Finally develop an annual execution strategy of all integrated marketing and communication tactics with defined deadlines, related sub-budgets and implementation measurement models.

These simple ten steps will help you create a successful well-organized marketing plan.

 

 

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