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Why is a marketing plan so important?

Why is a marketing plan so important and if I’m only a small business what type of plan should I be doing?

Juliet Pannozzo

I guess the best way to know whether a marketing plan will help you is to ask yourself the following questions:

  • Do I know how much I intend to spend on marketing this year, and what I expect back from spending that money?
  • Do I know (without having to scramble through screeds of invoices) how much I’ve spent on marketing my business to date?
  • Do I know where to spend money marketing my business and what will work?

If you answered in resounding ‘nos’ then think about incorporating a marketing plan into your business. A marketing plan is like a road map. It helps you reach your end destination in the quickest, most efficient way possible. Sometimes in our businesses we invest money in marketing not really knowing what we want to or should get back. A marketing plan changes all of that, providing structure and goals relating to how much you spend.

Most businesses don’t have money to waste. Rather than looking at a marketing plan as another expense you really don’t have the time or money to implement, think of it as a way of saving you money. All businesses, especially smaller businesses, need to make every dollar count and minimise surprises at the end of the tax year.

A good marketing plan will be very specific to your business and will identify:

  • How to effectively segment your target market and attract quality potential customers to your business
  • How to best communicate to your potential customers to turn them into actual customers
  • How to be consistent with your branding
  • How to measure the success of every dollar you spend on marketing
  • How to limit marketing projects that waste money
  • How to build on the marketing successes specific to your business
  • How to work out whether you’re going to get a respectable ‘return on investment’ in sales / website hits / enquiries (or however you define success)
  • When not to spend money (even when an irresistible offer materialises) because it won’t benefit your business

There are plenty of places to go to find a marketing plan – if you’d like some help putting your marketing plan together, Ricochet Marketing provides three individual consultation sessions, including a template for you to work on and keep for $99 (usually $150).

This offer will be available until 1st April 2011 by contacting [email protected]

If you have a question please drop us a line,
we are more than happy to help.

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Expert:    Juliet Pannozzo
Organisation: Ricochet Marketing
Email:

[email protected]

Facebook:

facebook.com/RicochetMarketing

 


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