Every day is a good day for marketing planning.
Yes, because a well-thought-out marketing plan will help you to win new business and customers, to get more investments if you need them, and to have your team more aligned and committed to your goals.
I remember the first “big” marketing plan I had to write for a business I was responsible for.
It scared the heck out of me!
Why? Because the stakes were high.
I had to develop one that convinced senior management that my business was worth investing in as much as I did AND it had to deliver results for the following year.
Some people think of their marketing plan as scheduling a bunch of tweets, posts, etc. This couldn’t be further from the truth. It goes way beyond this to help you develop a plan that will enable you to compete to win.
I frame my thinking around competition a lot. I know some people don’t like to think they are going against something or someone else—either because they believe they are totally unique or because it sounds crass.
But remember that you are always competing for a customer’s wallet. Most people have a limit on what they are going to spend, period. So, they will be making choices… A or B.
Therefore, it is wise to understand what others are providing your target market. You are then better able to craft a plan that offers a better solution. At the end of the day, you want a larger share of that wallet going to you.
We know you’re busy running your business or you’re busy conceiving the details of your new venture.
So why should you spend time doing a marketing plan?
- It gets you to think through, in a disciplined and fact-based way, how best to position and sell your brand in the marketplace.
- It forces you to think about your brand within the context of the competition.
- It forces you to think deeply about the requirements of your customers and prospects and how your brand helps to meet what they need.
- It forces you to quantify your goals and how to reach them with confidence.
- It makes you think about the choices you have to promote your brand within your budget.
- It forces you to plan in detail, which increases your chance of success.
The result of your marketing planning defines your strategy (the big picture) and the tactical elements (detailed plans) to support its success. It is a great way to stay focused on what you need to implement in a coordinated and integrated way.
We recommend doing a plan for about 12 months, but it could be a bit longer or shorter time frame depending on the nature of your business.
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Miriam Vializ-Briggs is a marketing consultant with 25+ years of marketing strategy and execution experience, garnered as an executive at IBM, American Express and Kraft General Foods. She has created solutions and marketing strategies in a number of industries including banking, biotech, packaged goods, energy, healthcare, industrial, insurance, restaurants, retail, and travel & entertainment.
6 thoughts on “Every Day is a Good Day for Marketing Planning”
Yes, so important! It feels overwhelming until you actually sit down and make the plan!
Thanks Monica for reading our post and your comment. We definitely agree! We find that creating a marketing plan has helped us to reduce our costs and improve our results at the same time. The plan has helped us to stay focused on creating value for our target customers and communicating with them in a coordinated, benefit oriented way. Here’s to another good day for marketing planning :).
I do think that a marketing plan is crucial! It is painful sometimes to sit down and carve out the big thinking time but it is crucial if you want to move ahead. Totally agree.
Thanks Rosemond for your great comment. I’ve never been successful at selling any product without thinking through my marketing plan first. All the best to you and thanks again for being part of our community!
Yes! Too many people overlook the need for a proper marketing plan. It makes a world of difference though.
Thanks Kylie for your thoughts. We agree of course :). We use the one we created for brandmarketingtips.com to ask potential partners for co-promotional support. It gives us credibility that we know where we’re headed and it also enables us to have a more meaningful conversation about areas where we can create a win-win with partners. All the best to you and we very much appreciate your contribution.