Prefer to listen to this post?
Duration: 4 minute, 22 seconds
Do you get excited about a new marketing strategy or tactic and act on it without clearly thinking it through? Are you using “Flavor-of-the-day Marketing“?
Trust me, you do not want to ‘shoot from the hip’ here
– that’s where the big marketing and financial mistakes are made. It is incredible how much money is spent by businesses every day on poorly planned ‘flavor-of-the-day’ marketing strategies and tactics.
So what should your marketing plan consist of?
At a minimum it should spell out what marketing strategies and tactics you will use, where you will use them, when you will use them, the forecasted dollar amount you are setting aside to carry them out, who will be responsible to ‘champion’ them, and who will hold your ‘champion’ accountable for getting them done.
Take It Up a Notch
To take it up a notch, I would recommend that you define what would constitute success for your business in each of those marketing strategies and tactics, set goals for each of them, and put mechanisms in place to track and measure their effectiveness.
Now we can go on an on here with more of what else could be in your marketing plan however, your marketing plan does not have to be elaborate to be effective – It just needs to be well thought out.
There’s no need to over-plan here. Get it on paper though because for some reason once it’s on paper, it becomes real.
In parting, I’d like to leave you with a pair of key distinctions:
First, your marketing plan is a living document.
It should be tweaked as needed to keep you on a straight-line path to getting what you want.
And last, it’s important to understand that no amount of planning in the world is going to help you achieve what you want unless you take action based on that plan…
So in essence, pave your way to success by planning your marketing and working your marketing plan.
Editor’s Note: This post was originally published in December 2006 and has been updated for freshness, accuracy, and comprehensiveness.