The new year buzz may be over, but the significance of your business’ marketing plan still stands.
A marketing plan ensures that your business’ thoughts become goals, and those goals become a reality for your business. Think of this plan as a road map for your business. A road map that directs and guides your business and your team in the direction you want to go. The following are critical steps of making a winning marketing plan for your business.
Produce a SWOT analysis: A SWOT analysis is a basic analysis of your business’ strengths, weaknesses, opportunities, and threats. This analysis is a very important first step because it allows you to do a deep dive into your business’ current competitive environment. Knowing and understanding where your business lies within your industry is key information of how your business moves forward. The SWOT analysis helps eliminate potential roadblocks and help increase future opportunities by facing these aspects of your business head-on.
Define your target audience: After defining your business’ situation and your competitive environment, you can then move to understand who your ideal customer is and how you can better serve them. In this step you need to know exactly who your ideal customer avatar is and everything about them. Knowing exactly who you’re serving will help ensure that you are serving them in the best way possible.
Know your goals: Now that you have a better understanding of where your business stands and who you are trying to serve, the next step is to have goals that can drive you to your destination. There is no point in a roadmap if there is no destination. Setting SMART goals that are Specific, Measurable, Achievable, Relevant, and Time-Based is often the most productive way to ensure you achieve your business’ goals because it elements goals that are unrealistic or untenable for your business at the current moment.
Understand how you will implement those goals: Dreaming, brainstorming, and writing out your SMART goals for your business is one thing, but knowing how you will achieve those goals is another. If you are a big organization, you must have systems and processes in place to meet these goals. If you are a solo entrepreneur, you must dedicate time and attention to these new goals. Implementation is often the hardest part of a marketing plan because there are often many moving pieces, but is always worth the effort in the end.
Know your budget and stick to it: If starting a Google Ads campaign is one of your goals and you know exactly how you’re going to implement it, but you don’t have the ad spend to put towards running advertisements, then that goal might not be achievable after all. Sticking to a budget can be challenging for any business, but using your budget as the final testing point and sticking with it will help you and your business succeed in the long run.
Are you looking to create a winning marketing plan and don’t know where to start? At TEN31 Marketing, we will work with you to create a robust and strategic marketing plan that will help you grow your business and reach your goals. Contact us today and let’s get started!