A marketing plan is defined as an organized strategy for advertising a business, product, or service to its customers, while also providing guidance and deadlines for the team. A marketing plan is a subset of a business plan, developed specifically to strategize advertising efforts. Marketing plans are typically made up of market research, campaign ideas, communication channels, and defined metrics and goals. To reach the appropriate audience, a marketing plan will ensure that your business is spending money in all the right places.
A marketing budget is likely the second-highest cost associated with running a business next to employee’s salaries. With that said, as a business owner, it’s important to know where your money is going. If you are tempted to skip out on planning your business’s social media, blogs, online ads, or email marketing, think again. To ensure you get the most out of your marketing budget, check out these 5 tips:
- Know your target audience. Ask yourself: who exactly am I trying to reach? – Who is my ideal client? Who is not my ideal client? Starting with their demographics, geographics, psychographics, and behaviors will help to narrow down your target audience. These individuals will want to see content that aligns with their values. A general rule is to post 80% according to the audience’s lifestyle and 20% business content, call to action, or sales. You want to be seen as a reliable resource rather than a sales pitch.
- Use a consistent voice and branding. By creating a brand persona, your audience will be able to recognize and relate easily to your tone and messaging across all communication channels. Use a unified look and tone across all platforms. A consistent and fresh logo is also helpful for brand recognition and grabbing audience attention amongst the competition. A buyer’s journey should be unified. Voice and branding should be consistent and content reliable.
- Analyze results and data. While this one seems pretty straightforward, there are a lot of different tools to help measure your results. Some great places to start are checking website traffic metrics, social media engagement, and email click-through rates. Knowing your numbers will help spend your budget wisely instead of guessing. Your marketing efforts should be thoughtful, not a stab in the dark. Having data and a plan helps to guide and optimize your cost and your efforts. Sometimes things pop up, but having a plan and metrics to guide you is the best way to stick to your budget.
- Incorporate a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis into your marketing plan. A SWOT will show exactly where your weak points are so you can minimize them. It also opens up opportunities to expand into new markets and stay up to date with new trends. One of the most helpful components of a marketing plan is to study the competition. Identifying their strategies to see what works, and what doesn’t, can save you time and money. SWOT can also help you to discover your unique selling point. What is it that sets you apart from the competition? Tap into your buyer persona and go above and beyond for your customers.
- Plan for future growth. Wouldn’t it be great to have more time for day-to-day business activities? CONRIC pr + marketing can assist with your marketing efforts allowing you to focus on your business. With the support of professional marketing staff and an effective marketing plan that aligns with your business objectives, the right marketing strategies can optimize your budget and propel business growth.
Marketing drives sales and sales drive business. Without a marketing plan, your business is at a higher risk of loss. After all, a goal without a plan is just a wish! To get a marketing plan in place for your business, call CONRIC today at (239) 690-9840.