How to Create a Marketing Plan Example
A marketing strategy is a high level business plan, which outlines the goals, resources, and specific targets of a marketing program. Marketing strategies normally have four basic sections: Strategy, Vision, Practice, and Tactics. This is how to create a marketing plan for your business. The first section of your strategy covers the “overarching vision” of your company. This part of your strategy should be detailed and explain the goals of your business, as well as what you intend to do to reach those goals. Your vision is ultimately what drives your marketing strategy.
Your next section of your strategy will outline your marketing tactics. These tactics can include any number of methods such as direct mail, Internet advertising, or cold calling. This portion of your strategy will outline the specific ways in which you plan to execute your marketing tactics. This section of your strategy should also detail any legal requirements that may affect your marketing tactics, such as the Fair Credit Reporting Act (FCRA) and the Americans With Disabilities Act (AWDA).
Your third section of your marketing plan should be a detailed description of your business initiatives. In it, you will outline your marketing goals and select a specific method for how to reach those goals. It should also describe your business summary or business objectives. Your objectives are what make up your business summary. They will guide all other sections of your marketing plan, including your plans on how to implement your strategic goals.
After you have written your goals, you need to select relevant metrics to track your progress towards them. Metrics are quantifiable, objective measurements that provide an exact result. Your metrics selection process will depend on your circumstances, but there are some basics to keep in mind when selecting a metric. The most important factor is whether your chosen metrics fit well with your overall business objectives. Some metrics may conflict with one another or provide results that do not support your overall goals.
Your fourth section of your plan should describe your marketing mix. Your marketing mix refers to the mix of strategies that you plan to use to promote your business. For example, if you are in the internet marketing business, you would most likely use pay per click advertising and affiliate internet marketing to promote your business. In your template, you might want to include a section explaining how to select the best mix of these strategies for your target market. This section should explain clearly why your mix of strategies is the right choice for your business, as well as provide details on how to measure your success using those strategies.
The last section of your template should explain how to compare your current marketing position with your competitors. A common pitfall for new business owners is comparing their position today to how they would position themselves in six months or a year from now. Instead of comparing yourself to your competitor, it is more effective to compare your position against what you think your current position is. You can use your competitor’s swot analysis as a baseline to help you better position your company in the market.