How to write a marketing plan. Image via Adobe Stock
This guide offers practical advice on developing and writing a marketing plan using simple English.
How to write a marketing plan. Image via Adobe Stock
You will find that a lot of guides to writing a marketing plan are heavily laden with marketing jargon; buzzwords that may sound impressive, but upon closer inspection mean very little. This guide offers practical advice on how to write a marketing plan using plain English.
Put simply, the aim of developing a marketing plan is to map out how you can gain more customers for your business, which strategies or tactics are right for your business, and how and when you are going to use them.
It should detail who you intend to sell to, how you will sell to them and how you will let them know about your business.
The marketing plan may form part of your overall business plan as a complement to investor presentations, or you may want to write a marketing plan as a separate document.
The focus should be on gaining new customers, persuading current customers to buy more often and getting inactive customers to return.
The key when to write your marketing plan is to make it short, concise and easy for the rest of your team to understand.
You need to identify the target audience you are aiming your product or service at, or indeed clarify whether there even is one.
Too many small businesses fail because they haven’t done enough market research. Don’t just rely on what your friends and family say, as they may not be the most objective observers.
A market from which you can profit will be made up of people who need your product, or at least have a perceived need, and who will be willing to pay for it. Understanding your customers will allow you to identify the best way to sell to them.
Think about your product or service and who is likely to spend money on it? Remember, if you aim to sell to absolutely everyone, you will be less successful than if you can narrow down your market focus. A product or service aimed at everybody is one aimed at nobody.
If appropriate, get out there and conduct some market research face-to-face. Ask people in the street if they can see the need for your type of business in the area and how much they would be willing to pay.
Identify who your competitors are and try to spot any weaknesses in their strategy. Can you capitalise on this? Is there a lot of competition in that area or will you be filling a gap? If not, could you find somewhere else more suitable?
Your marketing plan should consist of two halves: the brand proposition and the communication plan. The brand proposition defines your reason for being and why you answer a need, while the communication plan explains how you’re going to get the message out there.
You need to spell out the thinking behind the brand you want to establish. Why should people care? A clear brand proposition will contain some form of:
Purpose of the brand: the purpose should define what you do – we exist to….? If you find that difficult, try defining what you don’t do – sometimes that marks businesses out from the competition. For example, “We are a locally produced soap product that only uses vegan ingredients not tested on animals.”
A purpose doesn’t need to be a perfectly crafted strap line, nor it is it likely to be seen by the public, but it should reflect what your business stands for.
Who your target customer is: who you think should notice and care about what you are offering – and why? The more focused this is, the better. If you have several focused customer groups there should be a sense of priorities, possibly distinguishing between their value and the order in which you’ll go after them – these are not always the same.
When thinking about your target customer, try not to think in terms of demographics, such as “Young mums aged between 25 to 34” and more in terms of values, such as, “Environmentally aware women supportive of local independent businesses”.
Pro tip: Visualise your perfect customer and sketch out how they spend their day to tap into their mindset, attitudes and behaviours. Are they cost conscious? Then explain how a bar of more expensive vegan soap is better value than cheap shower gel. Creating this pen portrait may also help you figure out the best time of day to communicate with them.
What is unique about you? What makes your business better than the competition; some use the term unique selling point (USP) but really, it’s what makes you stand out from the crowd. You need to demonstrate what it is about your product, service or business model that will give consumers the reason to believe you.
What is behind the name: if this is not perfectly obvious (usually a good place to be with a name) then what is the story behind your company name? Is there an anecdote you can use in marketing or a press release?
Tone of voice: this is important. The way you want to show up in front of your potential customers, the kind of language you would use, your house style, must be consistent. If you are setting yourself up as a financial adviser, for example, you would want to reassure and be patrician. A novelty kid’s product might be zany. Ben & Jerry’s ice cream still has a Sixties counterculture vibe, even though it’s owned by Unilever.
Pro tip: Create a mood board to illustrate the tone of voice, other brands or services which have the same kind of ethos to yours.
If the brand proposition is to get everybody excited, the communication plan is how you get the message across. Again, this will be defined by your target audience. Marketing channels to consider include:
You also need to think about cost. Setting a budget is important and will help keep your advertising spend in check. Consider which of these marketing strategies will give the best return on investment.
You could even ask similar businesses in another area how they go about advertising. You would be surprised how generous people are with their time. Speak to people in a similar situation, but preferably not the businesses against which you will be competing directly.
Having clearly defined goals will allow you to keep an eye on how you are progressing over a set period of time.
Does the message you are putting across need to be short and sharp, or will you customers be willing to spend more time learning about what you have to offer? Either way, there are some key points to consider, which should be included in your marketing material to make it more persuasive:
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Having clearly defined goals will allow you to keep an eye on how you are progressing over a set period of time. Use “SMART” targets as a useful way of approaching this area. SMART means that your targets should be specific, measurable, achievable, realistic and time-defined. You could include sales targets and the amount of profit you are looking to achieve, targets for enquiry levels and so on.
Once a month, you should conduct a short review of progress to see how you are getting on and whether these targets need to be adjusted. However, don’t jump to re-adjust targets immediately if you aren’t hitting them. There may be something else in your marketing strategy that could be changed and will allow you to achieve more.
Reviewing the plan can also help you learn from any mistakes and help you adjust. When you write your marketing plan always bear in mind your desired results. The plan is therefore an important tool to help you author your business future.
Written by Ben Lobel
This article originally published by smallbusiness.co.uk