Your product or service won’t get the recognition it deserves no matter how exceptional it is if no one knows about it. To promote what your business offers, you have to create, plan, execute, and optimize the right marketing strategies. Accomplishing this is no easy task and takes a team effort.
Project managers are equipped with the necessary knowledge and skills to achieve your project goals and meet success criteria within the given time frame. Given their expertise, they are one of the most qualified persons to come up with successful marketing plans.
If you are a business owner, you may think that you don’t have the time nor money to invest in a marketing plan. However, it’s time to finally realize its importance because this can be your key to success.
Learn how to make a marketing plan like a project manager by using this article as your guide.
A marketing plan is an outline for a strategy for your marketing campaign. It is part of your business plan that serves as a roadmap toward your business goals and gives direction from your product or service to your potential customers.
Also, it focuses on your marketing and advertising efforts and contains historical data, strategies to reach your business goals, and predictions for the future.
A marketing plan must have context, and to achieve this, you have to make sure to conduct an extensive market research first before planning and have a thorough understanding of its basics. These include the following:
Your goals refer to the objectives you want to achieve in your marketing plan. They should not only be a vision statement. Instead, they should be clear, specific, attainable, realistic, and measurable. Some examples of these are tasks, improvements in key performance indicators (KPIs), quotas, and other performance-based benchmarks used to track progress.
A marketing plan can be costly, but it is worth the cost to save you time, frustration, and revenue later on. To execute and optimize your marketing plan successfully, establishing a marketing budget is crucial. It outlines all the money your business is willing to spend on your marketing-related projects. Keep in mind that it must be realistic and within your financing constraints.
Building your marketing budget starts by determining the marketing goals you want to achieve and the estimated cost to reach them. Some factors you should consider are software you need to create your marketing campaigns, freelancers and full-time employees you are collaborating with, paid opportunities, and content creation.
Identifying your target market is important because this helps you develop effective marketing strategies. As soon as you know your audience, do your research and gather all the necessary data about them to understand their needs and wants better. Your study must contain your customers in that market as well as any market dynamics, patterns, and sales history.
While rivalry can seem intimidating, competition is healthy for your business. It motivates you to strive harder, innovate, create marketing strategies that work, and serve your customers better. To stay ahead of the curve and build a positive reputation in the industry, spot your competitors and set yourself apart from them in a way that will attract your customers. Conducting a SWOT analysis can help you achieve that and let you understand your position in the market.
The marketing mix is a tool that helps you address the needs of your customers and make your company profitable by letting you understand the key elements you must combine to achieve your marketing goals. This involves the four Ps in marketing: product, price, place, and promotion. By uniting them, you can showcase the value of your brand and stand out from your competition.
Your marketing plan must be built on marketing strategies that convey your sales message to your target audience and guide you in every business decision. Coming up with these tactics require detailed market research information, time, and financial resources. These should include the details on how you will coordinate advertising, direct marketing, training, trade shows, and other marketing efforts.
Tracking the success of your marketing programs is vital to let you determine if they work and help you identify points of improvement. You can use a funnel mapping software, a marketing collaboration tool, or other programs to track and analyze your progress and compare your actual versus planned results.
Don’t forget to monitor the deliverables and the execution of the plan to ensure that you stay on track and are making progress towards your goal.
Your marketing team should be composed of members who have the knowledge, skills, and experience required to help you create a successful marketing plan. Consider hiring one or assemble a team of your own.
Break down your work structure and define all the tasks you should take to make your marketing plan succeed. Start with the biggest item and work your way down to the smaller ones.
Your actions should include identifying your stakeholders, creating a communication plan, making a schedule, and generating a risk management plan. This way, you can communicate more effectively with one another, make sure the project is on course, keep track of the project’s progress, get everything done on time, and determine risks in your plan and resolve them successfully.
Measure your progress by monitoring and tracking your deliverables by using various project metrics. This will help you ensure that you are staying within your budget and on schedule and allow you to present organized data to your stakeholders easily.
Creating a marketing plan like a seasoned project manager can be challenging and overwhelming, especially if you have limited knowledge about marketing. By following the guide above and doing your research, you can boost your chances of establishing one that works best for your business. On the other hand, you can always seek help from actual project managers and other marketing experts.
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