Marketing Plan: 10 Steps to writing a simple marketing plan
In this article, I will explain in detail that how to write a simple marketing plan for your business, but before this, it is very important to know that what is it and why we need this?
Definition of Simple Marketing Plan
The marketing plan is basically the integral part of the Business Plan which is the roadmap to show where you come from and where you are going. It is just a process of planning step by step which guides you in every step of your business operation.
So, in the Marketing Plan, we are planning to promote our product or service in the market. It is a detailed and comprehensive research-based document, which companies used to market their products or services to the customers. It is a set of marketing strategies on target customers, value proposition, competitors, distribution channels, marketing budget, price and promotion, and SWOT analysis, marketing plan is also known as a marketing strategy, and without a marketing strategy, your idea cannot become successful in the market and it will die itself in a short span of time.
Steps to writing a simple marketing plan
1- Executive Summary
The executive summary is the heart of your marketing plan, as its name indicates that it is a brief summary of all the sections of your marketing plan. It basically highlights all the main points to attain the interest of the reader. You should write your executive summary very carefully, because it plays a vital role, if it is composite and interesting, only then you reader go for further sections in your plan. It should be short and comprehensive, although it is the first part of your plan it should be written in the last.
2- Write a Mission Statement
Write a short mission statement of your company consisting of the key points, that what you have to sell? To whom you want to sell? And what is your unique selling proposition?
3- Marketing Objectives and Goals
“Setting goals is the first step in turning the invisible into the visible.”– Tony Robbins
In this section, you will state your marketing objectives and goals, without objectives and goals your marketing plan is worthless, and in the end, you will reach nowhere. Your goals guide you where you want to go and your objectives help you to get there.
Your goals should be smart, measurable, attainable, realistic, and time-bound.
4- Describe your Product or Service
In this section, you will describe your product or services, state that what problems are facing your audience in the current market, and how your product and service is going to solve that problem? What is the demand for your product in the market? What is the competitive advantage of your product and why your product is valuable? What you are offering something special for your target customers?
5- Do Market Research and Analysist
Without comprehensive market research, you cannot write a good marketing plan. The marketing plan is all about setting marketing strategies based on research only.
Do deep market research, state your problem, develop your marketing research plan, collect all relevant data and information, interpret and analyze available data and note findings, and make reports.
Research and analyze your competitor’s product or service, their pricing policies, marketing strategies, promotions, distribution channels. Find out your target audience, how you keep them with your product.
6- Competitive Analysis (SWOT)
Competitive analysis or SWOT analysis is basically a comparative study of your competitor’s marketing strategies and your owns. SWOT stands for Strength Weakness Opportunities and Threats. After this analysis, you will be in a better position to know your strengths, weakness, opportunities, and threats, and will be in a position to know where you can beat your competitors. SWOT-analysis helps you to formulate better marketing strategies.
7- Find Your Target Market
In this section, you will find your target audience for your product or service and briefly describe them. Identify your buyer personas such as their age, gender, interest, needs, and location. By doing this you come to know that, what problem your buyer has? What do they need? And how you can solve their problem?
8- State Your Marketing Strategies
After finding your target markets make your marketing strategies to reach your customers.
Formulate your marketing strategies in such a manner that it will attract most of your customers. There are many options for you to reach your target customers but you should use the most attractive ones. You can use social media marketing, email marketing, direct marketing, advertising, print media, writing articles, etc.
9- Develop Your Marketing Budget
In this section, you should prepare your marketing budget which helps you to plan for your marketing expenditures. Your marketing budget will tell you, how much you can spend on your marketing. How much you have to spend? How will you manage your marketing expenses?
10- Make Your Contingency Plan
State your contingency plan clearly, it will reduce your business risk; it gives you the answer to, what if? Simply it is the planning for unplanned events. It guides you that what to do if an unexpected event occurs, how to manage the worse situation? How to deal with the crisis.
In this post, you will describe the strategies by which you will monitor your all marketing plan strategies. By monitoring, you will be able to find out what is working, and what not? And you will find yourself in a better position to make adjustments where needed.
Make a list of your target audience and decide whether you want to market your business to them by mail or online. Then decide how many pieces of mail or e-mail you will send to your customers. Next, make a list of products and services you will offer to your customers. Finally, think about what message you want to convey to your customers. Once you have all of this information, you can begin creating your marketing plan.
Simple content includes blog posts, web pages, social media updates, and emails. It is not complicated at all, but it requires a lot of time.
First, think about your business as a whole and what it wants to achieve. This will help you decide what goals you want to set for yourself and for the company as a whole. Then, think about your strengths, weaknesses, opportunities, and threats (SWOT) analysis. Once you know what you want to focus on, you can start developing strategies and tactics for how to achieve those goals.
A marketing plan should have a clear objective, identify a customer base, determine a budget, explain a strategy for reaching that customer, and develop a marketing mix.
A marketing plan is made up of a strategic outline of products, customers, markets, and competition. It involves the process of planning, analyzing, testing, and modifying the plan throughout the marketing cycle.
A simple marketing plan includes four main parts: The Product, the Promotion, the Marketing, and the Distribution.
The marketing plan defines who your target market is, where your product is sold, and what you’re going to do to get people to buy it. It also tells how much money you have to spend to accomplish your goals. Finally, it helps you think about how you will promote your product.
A mini marketing plan is simply a smaller version of the traditional marketing plan
A marketing plan serves as an outline of what you intend to do to promote your business. It shows the steps you’ll take to increase awareness of your company, and it describes how you’ll attract new customers. It also gives you a good idea of how much money you’ll need to spend.