Marketing plans are a CRITICAL tool for any SIZE business. It doesn’t matter if you are a solopreneur or a big corporation.
Many people say to me “What is the difference between a business plan and a marketing plan and do I need both?”
The answer is yes, you do need both. A business plan provides an overview of the business, including information on staff, operations, locations, financials, as well as clearly outlined missions and goals. There is also a section on marketing but this is at a broad level. Business plans are often used as a financial tool to provide lenders with necessary information to determine if the business is viable with the ability to repay loans.
A marketing plan provides a blueprint for your businesses success.
It will help you stay on track and focused. It will define your objectives and provide a road map to achieving those objectives.
It will include strategies and time frames to keep you on track.
Here are a list of reasons why investing in creating a great marketing plan is a must for every small business owner.
A well thought out Marketing plans will:
- Formalise ideas you have in your head
- Keep you focused and on track
- Establish tasks and timelines
- Identify how to ATTRACT and WIN new customers
- Maximise GROWTH and PROFITABILITY
- Help you stay ahead of the competition
- Identify your positioning and value proposition
- Set out clear S.M.A.R.T (Specific, Measurable, Achievable, Realistic,Timebound) objectives
- Identify your ideal customers needs, wants and desires
- Provide a detailed strategy on how objectives will be achieved
- Create a Marketing Activity Plan Calender and ACTION PLAN
- Determine measurement and ROI on campaigns
It is a good idea to invest in help when creating your marketing plan from an marketing expert.
If you are interested check our marketing planning and strategy packages here.