Marketing Plan Definition is a great idea, but it is just an idea until you act on it. The first thing that you want to do is grab a piece of paper and pen (or your laptop) and create a quick marketing plan to give yourself an initial road map of your dream.
Marketing Plan Definition Phase I
This is not a full marketing plan definition, but it will certainly give you a start and to move past your first hurdle.
Strengths – What is your business, products, services strength? What makes it/you good.
Weaknesses – Where is your business, products, services strength deficient? How can you improve in that area?
Opportunities – What is the market missing? Where can you capitalize on missing opportunities?
Threats – What are the things that can disrupt your business? Are the things that you can control? What are the things that you cannot control? How will you deal with these things?
Understand your SWOT
Your target audience is the base of your business. They are the people that you want to attract to buy your product or service. Always remember no customers, no business. That being said knowing who your audience is will be one of the most important things that you will figure out. Now it is time to find out who they are and what is important to them:
a. Target Persona
Persona Group (i.e. web manager)
Job titles and major responsibilities
Demographics such as age, education, ethnicity, and family status
What are they interested in?
The goals and tasks they are trying to complete using the site
What do they think / feel / believe?
Their physical, social, and technological environment
What products and services do they consume?
A quote that sums up what matters most to the persona as it relates to your site
Casual pictures representing that user group
What are their challenges and needs?
b. Customer Journey
Nail down the customer persona
What causes someone to look for information about your product or service?
Where does your Target Persona go for information? What are their touch points?
How do they interact with potential vendors?
What are the different stages in their purchase process?
What are their pain points?
Do you understand your customer’s goals?
How do they make decisions?
c. Value Proposition
What value does your product or service delivery to your Target Persona?
What makes your unique proposition value, unique?
How does your unique proposition value meet their essential need?
How is your unique proposition value phenomenal?
Marketing Plan Definition Phase II
One you’ve defined, profiled and started to understand your Audience, you then need to devise the Strategies that you’re going to apply to engage, educate and convince them. These strategies need to be grounded in your goals, so it’s important to have a comprehension of what it is you’re looking to achieve from both a business and marketing perspective. The Strategies pillar is comprised of three cells as follows:
a. Marketing Goals
What are the goals of your business?
List your immediate (1-12 month), middle (2-4 years) and long term (5+ year) goals ?
Are your goals:
b. Key Strategies
What will you have to do in order to meet your Marketing Goals?
c. Pricing & Positioning
How much will you charge for your product or service?
How do you justify this pricing based on your Value Proposition?
Marketing Plan Definition Phase III
In its most basic form, your Marketing Plan Definition needs to guide your customer/client down a path of your desired outcome. In this third phase of your plan are structured around the activities that need to be implemented in order to move on the next strategies. They are made up as the following:
a. Marketing Channels
Which channels advertising and marketing channels will be needed to communicate your Value Proposition to your Target Persona?
Will you have the monetary bandwidth to compete at the level that is necessary?
Do you have other options that your competition is not capitalizing on?
b. Tactics & Activities
What specific activities will you do so as to convey your Key Strategies?
What resources do you need?
c. Measures of Success
In what manner will you measure the achievement of your Marketing Plan?
What KPI’s Key Performance Indicators will you look at?
- Are these in line with your business goals?
What are your quantifiable targets versus where you are presently?