Because we often are forced to live in a "ready-fire-aim" world, marketing planning is often something that is overlooked or rushed through. But since it is almost a new year, and since planning can be incredibly valuable tool for driving the success of a company, I thought I'd devote a post to it.
KnowThis has a six-part marketing plan template that is a good place to start thinking about your plan. Their version is highly detailed and covers everything from competitive analysis to finance to mission to tactics. It is probably overkill for most businesses. A simplified version goes like:
1. What financial (or other types of performance) goals do we want to achieve in the next year?
2. What strategies and tactics do we want to use to get there?
3. Do the numbers (cost per lead, average revenue per client, margins, etc.) work? In other words, can we invest enough money to achieve our goals?
These 3 questions are at the heart of the marketing planning process and I'd encourage you to tackle them first. Detailed reviews of your competitive landscape, etc. are valuable but can really bog you down.
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