What is a Marketing Plan?

The development and execution of a well developed strategic marketing plan should enable an organisation to gain Share of Voice (SoV) while simultaneously support in the increase of Share of Market (SoM) through new sales and acquisitions.

A strategic marketing plan is designed to sit as a supportive executive document and should not be used as business plan, however elements are designed to overlap as a way to connect your business to your customers.

It should incorporate applicable elements from both a Corporate Level and at a Business Unit/Operations, Product Development and Market Level.

Here’s How we build it in 7 easy steps…

  • Breaking down the organisation’s Purpose and and Vision assists in understanding the organisations core reason for providing services or products to its customers and clients. This ensures a Customer Centric approach is undertaken through the Marketing strategy development.

  • By zooming out and viewing the market from a macro perspective through the use of a PESTEL Tool an organisation can gain greater understanding of the Marketplace Environment.

    Zooming back into a micro perspective can then gain insights into Competitive, and Company forces for change.

  • Looking at the organisation through the lens of the customer or client will allow an organisation to learn how the current customers feel about the services or products received.

    Delving deeper into the customer’s Perceived Value of the product or service will allow an organisation to hone in on their Value Proposition.

  • By breaking down current customer insights and data into Geographic, Demographic, Psychographic, and Behavioural Segmentation, we can focus in on the desired target market.

    In other terms, the customers or clients that are most profitable. not to exclude other potential customers, but to ensure your marketing investment gains are gaining the desired outcomes.

    Using this knowledge we can then build a Brand Positioning Strategy. A Brand Positioning Bullseye.

  • Building out your Marketing Mix is all about finding ways to Create, Communicate, and Deliver value to ALL relevant stakeholders in the following 7Ps:

    1. Product

    2. Price

    3. Promotion

    4. Place

    5. People

    6. Process

    7. Physical Environment

    This sets the framework for your Budget and Tactical Plans

  • Knowing your financial KPIS and Thresholds is crucial to ensuring steady cashflow as marketing expenses increase over time. However, there should be a measured ROI against marketing expenses.

    A good tactical Plan should allow for maximising exposure in the short term, but reducing expenditure over the long term plan as Brand Identity establishes a strong share of voice in the marketplace.

    The Marketing Budget should included a;

    • Break-Even Analysis,

    • Realistic Sales Forecast, and

    • Realistic Expense Forecast.

    Note: Actual expenditure may fluctuate due to advertising costs and inflation.

  • Maximising an organisation’s Value Proposition hinges on how well the organisation communicates and delivers on its competitive advantage.

    Ensuring an Internal Marketing plan is incorporated in an organisation’s Tactical Plan is as important as what is presented to the public, an organisation is only as good as the employees delivering on each one of the organisation’s Seven Ps.

    Detailing the organisation’s promotional activities to support a synchronous plan is best recorded within a Promotional Matrix that outlines specifically what promotional mediums will be used against market segmentation.

    A customer Journey Map will assist in detailing customer engagement and experiences against the organisation’s Value Communication and Delivery procedures.

    The Journey Map will guide the organisation through continual improvement exercises as it finds ways to increase a customers perceived value o the organisation.

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