Marketing Topics
IN THIS LESSON
Whether you’re launching a new product or service or targeting a regional market...
… put all the pieces of your plan together with a big-picture mindset.
Mapping out an annual marketing plan is a great way to ensure you’re reaching the right customers at the right moments. While the specifics of your strategy will vary depending on your own particular goals as a business owner, there are a few essential things every long-term plan should accomplish.
Watch the International Finance Corporation’s interactive video on this topic.
Video Transcript
Your marketing plan should be a clear, concise, and well thought out document that guides you through your marketing program. Using the marketing plan template will help you focus on the objective of your marketing and how you intend to accomplish that objective. Whether your company provides products or services, your marketing plan is essential to your success. The six major elements to creating a successful marketing plan are listed below. Creating a marketing plan template from these points can help you stay on track.
You may only need a sentence or two per section or you may want to break each down into a few succinct bullet points. The purpose, your target customer, the benefits of your product or service, your positioning, your marketing tactics, your marketing budgets. As you go through each section, keep the following tips and hints in mind. Keep your marketing plan simple. Many small business owners get so involved in details that they lose sight of their goals.
By keeping your plan simple, you create a clear roadmap that focuses on what you need to accomplish. Write your marketing plan down as opposed to thinking about it and keeping it in your head. It is important to have a document that will remind you what you're trying to accomplish. A marketing plan template is an excellent place to start. Be direct and be clear.
If you are not sure, ask a friend, relative, colleague, or employee to read your plan. They should immediately grasp your goals. Don't build in too much flexibility. You may be tempted to plan for various markets contingencies. If your market plan changes that quickly, then you should incorporate that into your plan, but create a strategy you can keep to.
That's the purpose of having a plan in the first place. Review your marketing plan often quarterly or even monthly. That doesn't mean you have to revise it every month, but take some time to evaluate it and make sure you are on track. Finally, never stop marketing. Once you have your plan in place, you need to take action.
Commit yourself to your marketing program. Don't let yourself stagnate. Keep at it. You'll be giving your business the opportunity to flourish.