Did you know that marketing is often one of the greatest expenses for businesses?
Don’t just throw your marketing dollars at the wall and pray for customers to show up. Instead, create a strategic marketing plan for 2021 so you can allocate your budget in the most efficient way possible!
Many business owners make the mistake of using DIY marketing tactics without a clear plan, and they end up wasting a boatload of money.
We don’t want that to happen to you. Keep reading to learn how to create your own 2021 marketing plan.
What is a marketing plan?
First things first. Let’s define what a “marketing plan” actually is.
Businesses often create marketing plans for each year, quarter, or month, depending on how often they review their strategies. Marketing plans include:
- A description of the target market
- The company’s unique selling proposition (USP)
- A SWOT analysis (strengths, weaknesses, opportunities, and threats)
- An outline of the marketing objectives
- The strategies used to fulfill each marketing objective
- The key performance indicators (KPIs) to track for each strategy
- A timeline for completion of deliverables
A successful marketing plan will provide a high-level overview of the marketing department’s objectives, and it will also streamline the measurement of campaign performance.
How can a marketing plan help your small business?
In The Art of War, Sun Tzu said, “Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.”
If you’re thinking about skipping the strategic planning stage, think again. Here are just a few of the ways a marketing plan will improve your small business:
You’ll lower your marketing expenses.
When you define your ideal customers well and implement strategies that resonate with the group of people you’re targeting, you will find it easier to make sales. (You’ll get more bang for your buck!)
You will stay ahead of your competitors.
Don’t procrastinate. Especially if your small business is in a cutthroat industry, you need to structure your business with a solid marketing plan ASAP to stay ahead of your competitors.
By setting KPIs, you will motivate your team to work harder.
KPIs will help you fairly evaluate the performance of your team. This will motivate them to work harder so they can achieve their goals. You can even provide incentives for high-performing departments based on the KPIs you create.
Your priorities will be more organized.
Once you create your marketing plan and set KPIs, you’ll be able to clearly evaluate each method and prioritize the strategies that provide your business with the best results. Then, you can optimize your future marketing plans to grow your business even more.
You’ll be proactive in planning for opportunities and potential setbacks.
Instead of working week to week with no clear strategy, a marketing plan will help you anticipate opportunities and threats so you will be better prepared for them.
Let us help you create your 2021 marketing plan!
Your marketing plan should be tailored to your company, but there are a few key strategies that work well for small businesses in 2021.
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