11. creating a marketing plan

You have decided upon your revenue targets and devised a marketing strategy based upon the wants, needs and expectations of your target customers. How do you turn strategy into action? Through a marketing plan.

Set your marketing objectives

First, set your marketing objectives, which should be SMART (specific, measurable, actionable, relevant and time bound). For example: To attract Y visitors to the website per month…To generate X new enquiries per month…To gain 20 new contracts per quarter.

Determine how to achieve your objectives

Describe who your target customers are, what they want, what the competition offers and why your target customers would buy from you instead of them.

Include your SWOT analysis, looking at your strengths and weaknesses and the main opportunities and threats for your business

Assess the different marketing channels you could use to reach your customers. (Note: I found the table to your right on a few websites, for example https://www.inspiringscotland.org.uk/wp-content/uploads/2021/04/Template-marketing-plan.docx. The link will take you to a useful marketing plan template that is free to use.) Now look at these marketing channels from the point of view of your customers. Which of them are most likely to be used by your audience and which are they most likely to respond to? What channels do your most successful competitors use? Create a shortlist of 4-5 marketing methods to focus on. If you are looking at social media, choose just two or three social media sites to start with; you can test them out and add more as you learn what works for your business.

Each promotional method will cost you in time, or money or both. You will need to set a marketing budget that your business can afford.

Your marketing plan will culminate in a marketing action plan which specifies

When each action will take place or the deadline date for completion.
What the action is (eg blog post; advertisement in local newspaper; Google Ads campaign; networking at local Chamber of Commerce event, etc).
Who is responsible for the action (if there is more than one person involved).
The objectives of the action.
The costs of the action.
The measures of success, or how you will know if the action achieved its objectives, and if it is worth doing again.

Further reading on this topic: The article/slideshow ‘Five Steps to Creating a Marketing Plan’ clearly describes what you need to include in your marketing plan.

Also read: Truth and lies on social media, Can networking help your business? Which group should you join?