According to Marketing Week, 67% of small and medium-sized enterprises (SMEs) do not have a marketing action plan. More than half (54%) of SMEs also do not have a business plan (research found in results from an AI/Google search)
The CIM says “Essentially, a marketing plan is a return to the basics. It’s all about finding out where you stand now, analysing where you want to be, and then establishing a route to get there. It is the touchstone for all marketing activity and, ultimately, the long-term mission of the business.”
What goes into a marketing strategy?
There are 7 stages to a comprehensive strategy and plan document, including a one page summary marketing plan and a marketing roadmap. That said, this is Pinpoint’s way of writing a marketing plan. I have seen many that are not as detailed and not as thorough or bespoke.
The 5 stages of the strategy piece or the groundwork piece if you like include:
• Objective Setting – setting goals and knowing your why (including competitor analysis, keyword review, market research, website review, social media profiles review and SMART goal setting). Plus one pager
• Defining the messaging – the wording used to attract your audience and understanding your niche/USP
• Pinpointing a strategy – this is the blue sky thinking by us before the doing
• Refining the target audience – your ideal client avatar, plus your prospects, leads and then your customers
• Developing the tactics – what marketing channels to use plus collaborations
What stages are in a marketing plan?
This is a living document and a perfect follow on piece to the strategy. Why? The strategy details what we know, who we want to talk to and what we want to the say and the plan puts this into action to implement with times and roles. The 2 stages are:
• Implementing the plan – this section is split into 3 phases along with outline budgets. Phase 1, the foundations. Phase 2, the one off campaign and 90 day marketing activity. And phase 3, a 30 day mini marketing plan. Plus a marketing roadmap
• Measuring and evaluation – knowing the results then the ROI
Why in general does your business you need both a marketing strategy AND a plan?
In short by working on a marketing strategy for your business and taking the next step of converting these findings into action to implement, you will avoid the key marketing mistakes often made by small business owners. And these are:
• Lack of consistency in your marketing. Avoid a haphazard style if you want a regular and flowing pipeline, stream of leads and consistent sales and roles. No famine or feast approach.
• Lack of measuring. If you don’t know where you started from or where you are heading business wise, how can you measure your progress and results? How will you know what is working for you marketing wise, in your content, messaging, channels, if you don’t measure. And by measuring we mean ROI, leads and sources, sales, conversion rates and so on.
• Lack of following up. Why leave money on the table? Why work so hard to nurture leads through your pipeline and sales process (which as we all know is taking so much longer to do this year than ever before!) to then give up or forget them and move onto the next shiny lead or prospect. Good and consistent marketing helps avoid this.
• Marketing in silos as a mistake. All the marketing channels you use from social media to SEO to Google ads and networking all need to talk to each other and be integrated to maximise results and effort. A plan with a reason and a purpose, and with measuring, helps avoid this in silo or in isolation approach.
Why you need a plan to support your marketing activity?
Without a marketing strategy giving your business the knowledge and detail to base sound decisions on and without a marketing plan giving your business the how, when and who to implement your marketing, you will just be drifting.
Business won’t be bad per say and you may well bring in results, with this will be more down to luck not intention and you will likely to relying on inbound leads and not outbound.
A plan will give you the detail, reassurance and a plan of action that will give you consistency which in turn will help with ROI and results.
For more info and reasons/benefits of a marketing plan, read one of these many blogs
The benefits and need for a marketing plan
Without a plan it WILL be harder, longer, more expensive and stressful to grow your business!
Without a plan YOU run the risk of overspending, wasting time and making poor decisions
Other benefits to have a marketing strategy and plan include:
• Get excited by and invest in your marketing
• Get the desired outcomes and ROI
• Get some help and support in the marketing areas you lack skill, resource and time in
• Stop going from one idea to another
• Start being professional with your marketing output
“There are three kinds of companies: those who make things happen; those who watch things happen; and those who wonder what’s happened” ― Philip Kotler
Marketing Week says “More than half (53.7%) of the 3,000 marketers surveyed say marketing strategy is the skill most undervalued by businesses, a clear sign of the frustration marketers feel about the lack of understanding and appreciation of the core fundamentals of the role within the wider company.”
Marketing channels
A plan covering all the relevant marketing channels you will use can then be narrowed down to a digital only marketing plan, and you can use the plan as a basis to make informed digital decisions. What’s not to love?
What next?
Ready to start planning your next marketing move?
Looking to set a budget? Give your business direction? Build loyalty and a presence and grow in 2025? …
If this blog has peaked your interest and made you think about reviewing your strategy and plan or indeed creating a new one for 2025 and beyond, get in touch or book a free discovery call
