Marketing planning is crucial to the ongoing success of any business. It helps you look forward and see how, where and when you need to take action to win valuable market share.
These 5 tips reference the most common stumbling blocks I witness businesses coming across when it comes to marketing planning / strategy.
Always have a written marketing plan
No matter how simple it is, make sure it is in written hard copy format. Research shows that long term written plans are much more likely to come to fruition than verbal/ non written plans.
Be creative in the way you present your plan, even if it is only for your eyes. The idea behind a marketing plan is that you refer back to it on a regular basis as a road map for where you want your business to go. There is nothing more difficult to read than a detailed document filled with solid text from beginning to end. Use tables, charts, bullet points and colour coding for different sections to break up the plan and make it easier on the eye.
As mentioned above, a marketing plan should be referred to and reviewed regularly. This helps you refresh your focus and update any relevant information as and when it is needed. Fix specific review points in your diary so you can check, analyse and reflect on your progress. Depending on the nature and size of your business, monthly or quarterly updates are advisable.
An unrealistic plan with unrealistic figures is a waste of time.
Once you have created your plan, take action on it as soon as possible. Procrastination is a very common reason for a lack of sales/ business growth.