Posted On: Feb 04, 2016
Posted By: John Duff
6 Critical Ingredients of a Functional Marketing Plan

Is your product getting approval from buyers? Have you written a marketing plan to streamline your business? If not, you are making the mistake that several small business owners still continue to do. These small businesses are molded from a different era and could not change their cliche. But, when young businesses take the Kool-Aid, it means suicide. Selling a product or promoting offers will require a legit marketing plan.

Marketing plans are normally drafted under the supervision of CMO or VP. But, that is unlikely in the case of many startups. Hence, that entitles you (owners) the responsibility to create a viable market plan. So, I will help you with smart tips for writing a market plan so that you can compete with the brands in your guild.

Writing a marketing plan is identical to writing a business plan, except it serves intended purpose in an organization. Here are 6 tips to write a viable marketing plan that can be easily applicable to product launch and campaigns.

1. Keep Goals Practical

Practice planning your business objectives in a practical manner. It is easy to float unrealistic figures and not achieve them at all. So, keep it rational and you could give your business a right heading. Suppose, you set a target of 2000 visitors to your young website by month end, it drives healthy motivation to the team involved in churning out the results.

2. Define Your Target Audience

It is unprincipled to jumpstart businesses without defining the trajectory. Aimless marketing can seal the fate of brands almost instantly. Marketing does involve risks when investments are made into resources with expectations to reach the right buyer. But, what if the target audience is missed because the campaign was bluntly aimed? Then, partially achieving is completely failing. The trade-off is achieved by building profitable pillars to every marketing campaign and that means a functional marketing plan.

Going by the psychology of humans, we are more willing to speak to members who take honest efforts to know us. Yes, it isn’t far from the truth. The same applies to the marketing practices as well. When you emphasize personalization you emerge with a winning formula that draws customers. You can improve your marketing pitch by knowing your customers interests in a better way. So, don’t hesitate to look beyond the norms of gender, income, and age. The more you express the knowledge you earned about your prospective needs, the better they will feel impressed.

Draft a plan to make buyers return for your services and your brand will earn significant customer growth via referrals.

3. SWOT Analysis, It’s Mandatory

Every industry has its share of pitfalls. To better handle the circumstances, a swift and efficient analysis is mandatory. Hence the SWOT analysis. The SWOT is an Acronym for Strength, Weakness, Opportunity, and Threat.

The purpose of needing SWOT analysis is to establish your standing in the competition. Every element of the SWOT will help your business understand its highs and lows. It will be easier understanding ways to recover from threats, and to seize opportunities. Maybe your competitors are doing well and you could make it better by taking a cue and adding more gears to your strategy.

All these planning must be well documented using a legit marketing plan.

4. Strategies Are an Integration of Mixed Approaches

Once you have defined your target market and have rounded up SWOT projections, the information could tempt to press ahead without drafting a strategy. But, I correct the notion because it is an inconsistent approach.

In the realm of online industry, it is a norm that most targeted buyers will express interest in established brands. But, as the new kid on the block how would you weigh your brand apart from the rest when you are in an arena predominated by many big names? The answer is direct campaigns. Drive the message straight to the hearts and minds of your prospective buyers. Let them hear what you have in store for them.

Get smart, savvy, and inventive with contact strategies to lure prospective buyers to your services. The proactive measures you take will quickly qualify your brands image and will establish yourself as a professional.

The core part of your marketing plan must disclose the details how the prospects can respond and how you can track every response.

5. Marketing Plan Is A Guideline Not A Rulebook

The marketing plan must not be twisted or undecipherable. It should be the code of conduct for any business that can be easily referred for assigning tasks to team members. When you are armed with a robust action plan, the budget for implementation can be efficiently planned. Suppose, you launch campaign at 5,000 targeted members, you can double the campaign trajectories considering the fact that you are making veritable profits from matching expected figures. Sooner, your strategy will mold itself into a self-sustaining system.

6. Monitor Results

Make all relevant data available on demand and verify them time to time. You will have to track the best days, average days and worst days to understand a preferable setting to streamline your marketing venture.

Similar to balancing weights on sports bike for performance, it is essential to balance your resource to get full performance score. Implement this from the best marketing strategy cookbook to get the aim right.

Direct marketing is an excellent strategy and the one that is beautifully winning scores of prospective for many brands because everything about direct marketing is real-time. Strategies are adjusted on the fly. But, that is one part of the story. If direct marketing isn’t working for you, then quickly flip the pages your marketing plan for next best way to make it happen.

A marketing plan is more of a guideline rather than a rulebook. There is often a degree of flexibility while drafting a responsive marketing plan which makes it a powerful tool for marketers to sharpen their marketing approach.