Looking for actionable strategies to propel your business forward in today's competitive landscape? The key lies in crafting a simple yet effective marketing plan. We've outlined the essential steps to develop a marketing plan that not only meets your business needs, but also sets you apart from competition.
Essential Steps
To elevate your business and stand out from the competition, create a simple marketing plan by following these 4 steps:
- Focus on a Few
- Create a Unique Story
- Develop a Simple Plan
- Do a Little, Learn a Lot
1. Focus on a Few (Ideal Target)
Within the category, these are the people or companies who have similar needs and are likely to be interested in buying from you.
- Think of customers who are in your “sweet spot” and you love to work with.
- Why are they in your “sweet spot?"
- Are they profitable?
- What size are they?
- What products/services do they need?
- What market or markets are they in?
- What do they care about?
- What are their frustrations?
2. Create a Unique Story
Crafting your narrative acknowledges customer frustrations, articulates how you resolve them, and distinguishes your offering from competitors.
- Address Their Frustration
- Say How You Help Solve the Frustration
- Say How You are Different than Competition
3. Develop a Simple Plan
Define your business goals
- How many customers do you have right now? How many more do you want?
- What part of the funnel do you need to enhance?
- Build Awareness (New/small/niche brand that prospects don’t know about)
- Increase Interest (Need more leads and engagement)
- Gain Commitment (Need stronger ecommerce, in-store conversion, sales closes)
- Build Relationships (Customer turnover, limited repeat business or cross purchases)
Brainstorm tactics to reach your Ideal Target
- How do you reach them now?
- Who do they trust?
- Where are they talking and listening?
- What can you do well?
Prioritize a few tactics based on the business goals and by funnel stage
- Ask for each phase: What tactics are most likely to work based on your Ideal Target and the places they go for information based on where they are in the process?
4. Do a Little, Learn a Lot
Create an Action Plan
- Use an Excel template
- Add all of the activities being completed by all people involved
- Activities should be specific enough to be able to “check the box” when finished
- Sort the activities by date
- Meet (weekly) with the team involved to check status, address issues and add activities based on the plans
Track a few Metrics/KPIs
Continually Analyze Results Enhance Your Plan
Answer these questions to analyze the data and enhance the plans
- What is above or below the average?
- What is causing the result? (look at more detailed data sources if needed)
- What ideas do you have to enhance the results in the next period?
Summary
Implementing a simple and straightforward marketing plan is crucial for driving your business forward in a competitive market. By following the essential steps we've outlined, you'll be well-equipped to meet your business needs and stand out from the competition.