Why do I need a marketing plan? – Am I just creating it for me to have? – Will I ever use it? The simple answer is, just as your daily work and personal life involves planning, so does your company! In addition to a top-notch business plan, a strong marketing strategy is important to help your business achieve and grow.
Many prospects turn to my team at Thick x collective asking if it is really worth investing in a marketing plan and how it will help their business. My answer is always yes!
Having said that, we will discuss exactly why you need a marketing plan and how it will help you achieve your long-term goals.
Let’s start with the basics …
What is a marketing strategy?
A marketing strategy is a process that allows an organization to focus limited resources on the best opportunities to increase lead generation and achieve a sustainable competitive advantage. The marketing plan consists of your company’s unique value proposition, customer data, brand guidelines, SMART goals, and much more that we discuss.
When creating a strong marketing plan, we focus on the four pillars that companies use when developing their marketing strategies. These include:
And if you don’t know why you need a marketing strategy, here are some reasons:
- More sales tips
- Eye among your competitors
- Gain market share
- Take the opportunity to develop and grow
- Increase customer retention and engagement
- Is the smart execution of processes
If that doesn’t convince you, read on for more details.
1. Your marketing strategy will help you set clear business guidelines
One of the most important tasks of a strong marketing strategy is to set SMART (specific, measurable, achievable, relevant and timely) goals and objectives.
Here are some questions to ask yourself when creating SMART goals:
- What are some things that will increase your website traffic?
- What sales funnels are you currently using?
- What methods can you incorporate into your daily workflow to help your business achieve its goals?
- How do you use your current brand to attract new customers? What is your company currently using to gain a loyal follower?
- How do you define your unique value proposition?
- How to stay ahead of the competition?
To answer the above questions, you need a marketing strategy that answers those questions. It helps you set SMART long-term and short-term goals.
2. Marketing helps you better understand your target audience
The marketing strategy should always focus on audiences and customers. This can help you better understand your target market. Market segmentation is very important to create a relevant audience for your business, products or services. To make your customers happy, you need to understand what they want.
Here come the game’s analysis tools. The analysis is all figures, so they give you the technical part of the company. Our favorite way to consume analytics is Google Analytics. It gives you all the important information about your website traffic, such as bounce rate, conversions, website time, and more.
Now, analytics is amazing, but it doesn’t represent the emotional side of your customers. There you need to better understand your target audience; you need to understand their pain points.
Here are some steps you can take to better understand the emotional side of your target audience:
- Define your target demographics – in addition to your marketing plan, it can be very useful on social media, content marketing, developing an advertising strategy, and knowing what types of influencers you might want to work with.
- Segment your market; that is, you divide your audience into segments — geographic, demographic, psychographic, and behavioral, and so on.
- Use marketing calendars to know the best times to reach your target channel on different channels
- Build brand authenticity! Be real and tell stories. Now, people value authenticity more than ever before, and it’s also a great way to get your brand story and solicitation.
These are all when you need to better understand your target audience through a marketing plan.
3. Your marketing plan can help allocate tasks to the team and outsource efforts as needed
Kell Thick x collective, we have found ourselves in many situations where we would meet companies that have a hard – working marketing team but are unable to achieve the desired results. We always tell them that once their company has achieved this, it is vital to review their marketing strategy and decide on changes.
With a strong marketing plan, you can figure out how to better divide your workload into tasks that can be better managed. With this marketing plan, you can delegate specific tasks to each employee, and if you need additional help, you can hire a trusted digital agency.
As discussed, a marketing plan consists of several different roles. Some of the things you need to focus on are:
- The team that develops your website’s SEO strategy
- Social media marketing team and their daily tasks with results
- Content marketing team and content planning and creation
- An ad team that focuses on serving SEM / PPC ads
These are some of the many jobs needed for a strong marketing plan, but once you’ve set it up and organized it in your team, it’s a smooth process.
4. A good marketing plan will help you figure out what tools you need to invest in
Marketing tools can be expensive, so it’s important to have a marketing plan to help you decide which technology and tools are worth the investment and offer the most benefits to your strategy.
Some services that require marketing tools include:
- SEO tools
- Paid advertising
- Investing in influencers
- Analytical tools
- Social media scheduling tools
- Online advertising
When considering which tools are worth it in the long run, you need to better understand your business tasks, marketing goals, processes, and more, and this will help you better understand the investments required.
5. Marketing is a great way to tell your business story
Company storytelling is a very important component of your marketing strategy. With a marketing plan, you have two goals to achieve: 1) define your company’s storytelling tactics, and 2) communicate your company’s story on all the right platforms.
You want to create a compelling brand story and market it properly. This will help your target audience understand your business history and differentiate your brand from your competition.
6. Every professional company has a marketing plan
Every professional company understands that in order to be a profitable company, it is necessary to successfully reach its target group. In order for your customers to stay in touch with your business, you need to have the right channels to provide them with daily updates, news, and product or service announcements. You want to have a cutting-edge strategy that wants to keep them connected and want to come back for more.
7. We like to compare your marketing plan with a reality check
Unfortunately, many companies fail because they do not have a marketing plan in place. The world is changing every day; digital is changing every day. In fact, we just saw it in a global pandemic. Some companies were able to adjust and adapt their marketing plans, others were not, and eventually suffered. It is vital that you have a marketing plan and are prepared to adapt and adjust as needed.
Create a marketing plan
If you haven’t guessed yet, it’s … it’s time to start working on your marketing plan! Marketing is your ticket to success ahead of the competition and you want to stand out. If you want to be bold about your marketing strategy, our team at Thick x collective is here to help you create a strong marketing plan to tell your story to your target audience.