A plan is the foundation of everything. It is impossible to succeed in any business, including marketing, without a well-calibrated and well-thought-out plan. In essence, a plan is a process of achieving a goal, divided into separate stages. However, compilation is not the easiest process, as many people think. It is important to think through each stage of achievement and calculate all possible nuances. The ability to make a quality strategic marketing plan is a very useful skill available to a small percentage of people. But do not worry! In our article we have compiled a detailed instruction on how to planning a marketing strategy, as well as explained why it is necessary to provide strategic marketing plan examples.

The concept of a marketing plan

A marketing business plan is the future marketing actions aimed at furthering the company’s goals, taking into account the costs, risks, and strategies employed. 

Often business owners do not fully realize the importance of planning a marketing strategy. They think that if there are conversions and sales, there is no point in spending time working on the plan. This is their mistake — the market can at any moment become unstable and collapse, and the company will go bankrupt in an instant. To avoid such a catastrophic situation, you need to regularly analyze the current situation, weigh the weaknesses and strengths of the company. On the basis of the data obtained, make a strategic marketing plan. 

Who needs a marketing plan

If your company seeks to simply go with the flow, you are satisfied with the current state of affairs in business and you do not care about the competition, then a marketing plan is not necessary for you. But it’s worth remembering that you can’t last long without a marketing strategy template.

If your business has goals, you are dissatisfied with the current development, sales results, and you are striving for growth, development and control over the situation — developing a marketing strategy is essential.

However, everything has pros and cons, including planning a marketing strategy.

Pros

A marketing plan is a practical guide that helps you make money. By understanding how your business works and how each action affects profits, you get a clear picture of its future. Here are the pros of a plan:

• You’ll be able to anticipate future developments;
• Be able to utilize your resources effectively;
• Get the opportunity to improve the business;
• Be able to identify problems and weaknesses in the company;
• You’ll be able to predict results;
• You will be able to correct deficiencies.

Cons

Creating a good marketing strategy from a template takes time and investment. These are necessary costs, but for a business with a limited budget, they can be critical. Here are the cons of planning a marketing strategy.

• Results may not be accurate;
• There are no guarantees of results;
• Data may become irrelevant over time;
• There may be additional costs.

Who creates the plan

Developing a marketing strategy is the responsibility of the business owner, who knows the ins and outs of the business and is focused on success. A sensible solution is to engage a specialist or marketing agency to ensure a professional approach to the development, but their work must still be approved by the owner.

Contents of the plan

There is no universal structure of the marketing business plan, suitable for all. Everything depends on the specific situation, as every little thing matters: market trends, audience, location, and so on. A marketing strategy template contains:

1. Defining the overall goal of the plan;
2. Determining planning goals and timelines;
3. Analyzing the company’s position in the market;
4. Developing actions to achieve the goals;
5. Budgeting;
6. Consideration of risks and strategy in case of abnormal situations;
7. Monitoring and adjusting the plan.

Guide to developing a marketing strategy

Let’s break down in detail what a planning a marketing strategy consists of and how to create one yourself using a marketing plan example.

It is important to realize that each marketing strategy template is different and includes its own steps and tasks. Therefore, when drafting, consider which steps to exclude and which to add. You’ll realize this as you go through the steps below.

Step 1: Define the goal

As you already know, the purpose is the foundation. Before you start writing your planning a marketing strategy, define its purpose. For example, introducing a product to the market will require one plan, opening a new store will require another. Even for a promotion, you can develop your own marketing business plan. Here are examples of possible goals:

• Opening a new store;
• Increase revenue;
• Introducing a new product to the market;
• Capturing a new market segment;
• Increasing market share;
• Achieving a leading position;
• Attracting new customers;
• Increasing the average check;
• Organization of the event.

The goal should be specific, measurable, achievable, realistic and time-bound. Timing is important because a strategic plan can be written for a month, a year, or even several years.

Step 2: Master Table

In this step, let’s discuss the basic structure of the marketing plan and how to form it. Keep in mind that it can be modified for you, for example, by adding a «Contractor» column.

• Task. This is a list of actions you have to accomplish, but more on that later;
• Timeline. You need to set a time frame for each item in your marketing plan. Without a timeline, tasks can drag on;
• Responsible Person. For each item, identify a responsible person who will be accountable for completing the task;
• Budget. You can’t do without it. For example, analysis can be free when working with an in-house marketer, but advertising will require money.

At this stage, it is not necessary to fill in every item. Just identify the necessary columns to fill in later.

Step 3: Analysis

Now let’s move on to the plan itself and break down how to create it. This step is one of the most important in any marketing business plan.

The analysis helps to identify the problematic aspects of your business, identify new areas of development moving into the next phase.

To achieve the goal, you need to know your business well. Even if it seems that you know everything about the market, competitors and customers, their data should be recorded, systematized and analyzed. A good analysis includes:

3.1 Key company mission

The mission of the company should be defined if it is not already defined. In business, the idea is the key factor, so this is an important step.

The mission will be the core that allows your company to present itself as serious and with clear intentions. It will guide everything in the right direction and help employees understand the company’s goals.

3.2 SWOT analysis

This analysis will identify the company’s strengths and weaknesses, as well as opportunities and threats that could affect the business.

Soberly assess the company and identify what needs to be improved. This is best done in a team to get a complete picture of the business.

3.3 Customers

Even if you know your target audience, analyzing your customers is always useful. Creating a ‘customer avatar’ will form part of your plan, identifying further communications and markets.

Identify who they are, where to find them, what they value and what they like. This will help you understand how best to target the business.

Every detail is important, as the problems identified will form the basis for future strategies, and fixing them will be a sub-objective of the plan.

3.4 Future directions

You already understand the company’s current situation and problems. But it is also important to know the ambitions for the future. A conversation with the owner or the management board is necessary to define long-term goals, which should be clearly communicated to employees.

3.5 Additional analyses

Analyze sales, business processes, marketing, competitors, marketplace and product — the more information you have, the better your understanding of your rivals’ companies.

4. Tools to achieve the objectives

Outline all activities necessary to achieve the goals, including new sales strategies, service improvements, and other actions.

5. Other aspects

Competition, improving product and service, defining marketing communications are all important aspects that help a company grow and develop.

Creating a plan is only the beginning, it needs to be supplemented and executed on a daily basis. Monitoring its execution, market conditions, sales and organizational aspects is what helps to manage the plan effectively. What is needed for this?

5.1 Making adjustments

Adjustments may be risk-related or caused by changes in legislation or the information environment that may affect the advertising concept.

For example, it is important to react quickly to new trends and market developments. For developing a marketing strategy, it is important to observe market trends and react quickly to them.

Conclusions

A plan is just a tool, but it will not solve all your problems. Remember, a plan is needed to help, but it doesn’t solve all problems. If management and employees are not interested in the development of the company, it is already buried in absentia and the plan is a means of last hope, it is unlikely to help. Nevertheless, a strategic marketing plan is essential for any business, it helps the company to grow, develop and achieve its goals.