You'll find that many guides to writing a marketing plan are full of marketing jargon. Words that look impressive but mean little on closer inspection. This guide offers practical advice on creating a marketing plan in simple language.
Why write a marketing plan?
Simply put, the purpose of developing a marketing plan is to decide how to attract more customers to your business, what strategies or tactics are right for your business, and how and when to use them.
It should define who you intend to sell to, how you will sell to them, and how you will tell them about your business.
The marketing plan can be part of your overall business plan in addition to the investor presentations, or you can write the marketing plan in a separate document.
The focus should be on attracting new customers, getting existing customers to buy more often, and returning inactive customers.
The key to writing your marketing plan is to keep it short, concise, and easy for the rest of your team to understand.
Before you write a marketing plan
You need to identify the audience you are targeting for your product or service and determine if it exists.
Many small businesses fail because they don't do enough market research. Don't just rely on what your friends and family say, they may not be the most objective audience.
> See also: Guide to Conducting Market Research for Small Businesses
Your target audience is people who need your product, or at least are interested in it and are willing to pay for it. By understanding your customers, you can find the best way to sell to them.
Think about your product or service and who will spend the money? Remember that if you plan to sell to everyone, you will have less success than if you target your market. A product or service for everyone is a product for no one.
Conduct a face-to-face interview
If necessary, get out there and do personal market research. Ask people on the street if they are interested in the type of business in your area and how much they are willing to pay.
Study the market
Become aware of who your competitors are and try to identify the weaknesses of the strategy. Can you spend money on it? Is there a lot of competition in this space or are you filling a gap? If not, can you find another suitable location?
How to write a marketing plan
Your marketing plan should have two parts: a brand promise and a communications plan. A brand proposal explains your purpose and why you're filling a need, and a communication plan explains how you're delivering the message.
brand promise
You need to define the thinking behind the brand you want to build. Why should people care? A clear brand idea has several forms:
Brand Purpose: The purpose should define what you do - we... ? If you find this difficult, try to explain what you didn't do; this sometimes sets companies apart from the competition. For example: "We are a locally made soap using only vegan ingredients that are not tested on animals."
A purpose doesn't have to be a full slogan or pitch to the public, but it should reflect what your business is about.
Who is your target customer : who do you think should be interested in your offer and why? The more focused the better. If you have multiple groups of customers, you should prioritize them, perhaps determine their value and the order in which you follow them - they are not always the same.
When you think of your target customers, try not to think of demographics like “young moms 25-34” and “local independent women-friendly businesses” among others.
Pro Tip : Imagine your ideal customer and how they go about their day to learn more about their mindset, attitude and behavior. Do you know the cost? Then explain how expensive vegan soap is cheaper than cheap shower gel. Creating this pencil portrait will help you figure out the best time of day to interact with them.
What makes it special? What sets your company apart from the competition? Some people use the term Unique Selling Proposition (USP), but it's actually what sets you apart from the crowd. You need to show how your product, service, or business model will make consumers trust you.
What's Behind the Name: If it's not really obvious (which is usually a good place to be), what's the story behind your company name? Have a story or press release to use in your marketing?
> See also: Britain's funniest company names
Tone of voice: important. The way you want to present yourself to your customers, the kind of language you use, the style of your home should be appropriate. For example, if you're starting out as a financial advisor, you'll want to appear confident and patriotic. New baby products can be bad. Though owned by Unilever, Ben & Jerry's Ice Cream still has a '60s counterculture vibe.
Pro Tip : Create a mood board to showcase your tone of voice, other brands, or services that align with your philosophy.
communication plan
When the brand promise resonates with everyone, the communication plan is how you deliver the message. This is also determined by your target group. Marketing channels to consider are:
- Direct marketing – by post or hand-delivered flyers
- Social Media – where does your target group want to go? Instagram, TikTok, or Facebook if it's an older demographic
- Outdoor Advertising – The cost of renting space in digital advertising can be less than you think. For example, in busy London's Soho, digital screens cost £700 for a week's display.
- Events and trade fairs – suitable for B2B companies where potential customers can attend
Set a budget
You also have to think about the price. Budgeting is important and will help you control your advertising expenses. Consider which of these marketing strategies will give you the best return on investment.
When it comes to advertising, they can ask similar companies how they are doing in other areas. You will be surprised how generous people are. Talk to people who are in a similar situation, but not to companies that you compete with directly.
Spread the word
With clearly defined goals, you can track your progress over time.
Do you want your message to be short and to the point, or are your customers willing to spend more time getting to know you? Regardless, there are a few key points to include in your marketing copy to make it more compelling:
- Explain the problem your customer is facing and identify the need for your product or service
- Emphasize the importance of resolving this issue as soon as possible
- Explain what makes your business different and why people benefit from buying from you
- If yes, please provide examples of satisfied customers and their comments
- Explain prices and payment terms clearly and concisely
- If possible, offer some sort of guarantee of the quality of your work or product, or offer incentives or discounts if you respond within a certain time frame.
Set goals and measure progress
With clearly defined goals, you can track your progress over time. Use "SMART" goals to approach this area. SMART means your goals should be specific, measurable, achievable, realistic and time bound. Meet your desired sales targets and profit margins, demand levels, etc.
Once a month, you should briefly review your progress to see where you are and if you need to adjust those goals. But if you don't meet your goals, don't rush to fix them. There may be something else in your marketing strategy that can change and allow you to do more.
Reviewing the plan will help you learn from your mistakes and adapt. When writing your marketing plan, always consider your desired outcome. Therefore, a plan is a valuable tool to shape the future of your business.
The best tips for writing a marketing plan
- Keep it short, simple, and easy for the rest of your team to understand
- If necessary, carry out initial market research on the go
- Create a product offering and a communication plan
- Know your budget
- Set goals and measure progress
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