As a service-based business, there are several must-haves to include in a marketing plan to ensure success. But first, you need a strategy.
A basic Google search asking for the difference between a strategy and a plan gave me this:
The marketing strategy is your approach to achieving your competitive advantage — the marketing plan contains the activities that will get you there.
The strategy is the why behind the work, and the marketing plan is the when and the what that describes the work.
Meaning, a strategy can be further described as a blueprint, layout, design, or idea used to accomplish a specific goal that is open for adaptation and change when needed.
An action plan is often in stages of implementation that includes tons of research. In can include some or all of the following: your current industry, the overall current state of your industry, competition, statistics and figures on revenues and pricing. It includes a SWOT analysis.
Tactics are the actual implementable tasks, campaigns, posts, communications, etc
Planning is what is sounds like – A plan of action your business should implement in the next 30 days, 3 months, 6 months. (with the current economic events, 12 months may be difficult to envision a layout. Know you may be adjusting regularly to keep up with what is happening in the business world.)
To be successful, strategy has to come first. I have often witnessed the clarity that comes from mapping out the overall purpose of the business and what it hopes to achieve.
When you are in the early stages of setting up a business it is important to create a Business Plan. Once you can articulate the purpose of your business, you can begin to create a Marketing Plan. Your marketing plan includes strategies for growth, tactics to implement, and continuous course correction if required, given the nature of our current economy.
Strategies, Action Plans, and Tactics: Here are key elements to consider when creating your marketing plan.
- Define Your Target Audience: Determine who your ideal customer is and tailor your marketing efforts towards them. Understand their needs, interests, and pain points to develop a message that resonates with them.
- Develop a Brand Identity: Develop a strong brand identity that accurately represents your business and appeals to your target audience. This includes creating a logo, choosing brand colors, and developing a tone of voice that reflects your brand.
- Establish a Web Presence: Establish a website and optimize it for search engines to increase visibility online. Include information about your business, services, and contact information.
- Leverage Social Media: Utilize social media platforms like Facebook, Instagram, and Twitter to connect with your target audience, share valuable content, and promote your services.
- Use Testimonials and Case Studies: Use customer testimonials and case studies to showcase the results you’ve achieved for previous clients. This can help establish credibility and build trust with potential customers.
- Offer Promotions and Incentives: Offer promotions and incentives to encourage customers to try your services. This can help generate buzz and increase your customer base.
- Utilize Email Marketing: Use email marketing to stay in touch with current and potential customers. This can include newsletters, promotions, and other valuable content.
- Monitor Your Results: Continuously monitor your marketing efforts and adjust your strategy as needed. Use analytics tools to track website traffic, social media engagement, and other key performance indicators to measure the effectiveness of your marketing plan.
But let’s be clear. All of this only works when you have one thing clear – Your marketing message.
The #1 thing that will butcher your marketing message
I recently found an old scribbler of notes from one of my advanced marketing courses. Guess what, other than the changes in technology, marketing is marketing.
I had this written and highlighted on one of the pages – 1 thing that will muck up your message to your audience:
Assumptions. You’ve take it upon yourself to perceive what your potential client wants. Back in my 20’s, I truly didn’t understand the full impact this has. I had not run a business at that point. I had worked for a few small businesses, but that isn’t the same as being the owner carrying all the responsibility of the success of it.
What to include in your marketing plan’s table of content
Once you have considered all the elements, you’re ready to write a marketing plan. The following are the categories I recommend to include:
- Business Overview: What makes your business qualified to solve problems, your target audience. What is your unique value proposition in the market you are about to compete in?
- Market Analysis: Here you breakdown your competition and competitors. Keep in mind, competitors are other products and services that can compete with your buyer. For example: On Valentine’s Day, chocolate stores, florists, jewelry stores – they all compete even though that are not considered direct competition.
- S.W.O.T Analysis: A Marketing plan requires you to acknowledge your strengths, weaknesses, opportunities and threats. If you don’t have a grasp of these, this is a red flag to a potential funder.
- Marketing Mix: There are 4 common areas ; Product, Price, Promotion and Place. I see so many new businesses use up all their efforts into Social media. This is only is only a small percentage of your full marketing mix. It falls under promotion.
- The Customer Journey: This is what is often left out from marketing plan templates. Yet, this can be what draws the line between success and failure. If you do not know where your potential client is when they encounter your product or service, how do you know how to market to them?
- Marketing Strategy: List out objectives that align with a goal. Then work out what tasks are required to accomplish the tasks successfully.
So, the marketing plan contains the activities that you need to accomplish your business goals. The marketing strategy is your approach to achieving your competitive advantage.
If you would like a copy of SmartCat’s Marketing Plan template, click the link and signup for the free download.
