It is hard to believe that 2013 is almost Do You Need a Marketing Plan?over! If you have not already started planning for 2014 now is the time to start. An integral part of your business strategy is marketing your products and services. You can have the best widget in the world, but if people don’t know about it they aren’t going to buy it!
There are many reasons to create a 2014 Marketing Plan. Below are my top 5 reasons to get started on your marketing plan today.
1. Target Audience: You have to know WHO you are marketing to! By knowing who, you have the information to choose HOW and WHERE to focus your marketing efforts to best communicate with your target audience.
2. Channels: Your first task was to identify your target audience. One that is done now you can figure out WHERE to communicate.
3. Budget: How much money do you have to spend on marketing in 2014? We recommend spending a minimum of five to seven percent of your gross revenue on marketing.
4. Goals: What are you expecting to achieve through your 2014 marketing plan? Do you want to generate a certain number of new leads or increase sales by a specific amount or percentage?
5. Analyze: You have to know the score! Proper analytics will help you identify where your marketing dollars are having the biggest (or least) impact. Monitoring your marketing efforts is often overlooked. If your marketing plan is or is not working you have to be able to identify WHY!
Creating a marketing plan can be overwhelming; however, it is something that you have to do if you want to have a successful marketing strategy. Don’t put it off. Just get started.
Your plan does not have to be perfect. It does not have to be a 50-page document perfectly formatted with charts, graphs, and other details – you simply need a plan of action.
One more thing…you have to work your plan! I have seen way too many marketing plans go to waste because they are sitting in three ring binders on a bookshelf in an office. What a waste. A plan is worthless unless action is taken.
If you need help developing a marketing plan for 2014 we can help. Contact me at 502.500.0259 to schedule to discuss developing your 2014 marketing plan.
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