How to create a strategic marketing plan

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How to create a strategic marketing plan

Your business’s success depends on your marketing plan,it is the foundation for prosperity in your business. A marketing strategy helps attract and keep customers. This can be accomplished by communicating the benefits of your product or service and the key differences between you and your competitors. In the strategy plan, you will determine and outline the tactics you will use to reach your company goals. Our digital marketing Omaha NE experts are here to share some essential steps to help you develop your marketing strategy.

SWOT Analysis

Begin with a SWOT analysis, which will give you a snapshot of where your business stands in the current market environment. SWOT analysis identifies your strengths, weaknesses, opportunities and threats. It is important to obtain different perspectives in this process to avoid any bias.

Once you understand what you are good at and what areas need improvement, it’s time to evaluate the external factors contributing to your opportunities and threats. This analysis will arm you with the right tools to build an informed marketing strategy.

Define your target audience.

Develop a simple, single paragraph profile of your customer. You can describe your customer with demographic terms – such as age, sex, earnings, geographic location, etc. – as well as lifestyle characteristics, which are defined by the way a person lives – including style, attitudes and possessions.

If you’re a business-to-business marketer, you may define your target audience based on their type and size of business, geographic location or any other qualities that make them potential customers. If you narrowly define your target audience, it will easily guide you as you plan your public relations, social media and advertising campaigns.

List your goals and outline the tactics to reach them.

You’ve already developed your SMART business goals, now it’s time to determine the tactics you’ll use to reach these potential customers and accomplish your goals. A good marketing plan from our digital marketing Omaha NE professionals targets prospects in all stages of the sales cycle. Tactics to consider include different forms of advertising, public relations, loyalty programs and appreciation events among others.

Outline your primary marketing strategies, and include a variety of marketing tactics you’ll use to reach potential customers. Consider having different methods for cold versus warm prospects. It will also be helpful if you can identify which media outlets your target audience uses to research information.

Set a budget and timeline 

Creating a budget will help you determine what you can afford. Every business needs to market their products or services. Finding cost-effective options will help ensure the success of your marketing plan. One way to set your marketing budget is to determine a percentage of sales you would like to spend on marketing. If you’re just starting out, this might not be possible, and you’ll have to use seed money to market your business. With the wide array of strategies available in today’s market, there’s an option to fit even the tightest marketing budget.

With a budget in place, create a timeline for completion of your goals. Many businesses have short- mid- and long-term goals. Be sure to review your goals on a regular basis and adjust it as the market and business conditions change. It is a good practice to review your marketing plan annually to make necessary adjustments. 

Now, you’re ready to put your plan into action and create your marketing materials. If you would like help creating your marketing plan or marketing materials, our digital marketing Omaha NE experts are always here to assist. At Outlook Business Solutions we know you’re busy and we’re here to help you build a comprehensive marketing strategy plan. Contact us  to learn more about our strategic marketing services.