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Marketing plan: what is it and how to do one step by step

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Marketing plan: what is it and how to do one step by step

Today all companies and businesses, no matter how small, need to develop a good marketing plan to be successful in their purposes. The reason is very dubai mobile number example : to avoid taking steps aimlessly and without clear objectives, it is necessary to have a route guide that serves as a reference when planning all actions and strategies.list_altIndex of contents
What is a marketing plan?
Why is it important to develop a marketing plan?
How to develop a marketing plan: all its phases step by step
Review of the work done for the marketing plan
A well-developed and structured marketing plan is the basis for any marketing department, but also for the entire company in general, since the campaigns we carry out and the purpose of each of them affect all other aspects, not only in the area of ​​communication and advertising.We know that each company is different and, therefore, it needs certain guidelines to adapt to its needs. And there are as many possible structures for a marketing plan as there are types of companies on the market. However, what is certain is that there are some sections that are common and all plans should share. That is why in this post we want to show you how to make a marketing plan and what steps to follow to develop it.

 

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What is a marketing plan?
The marketing plan is a document in text or presentation format that includes all the Betting Email List studies carried out by the company, the marketing objectives to be achieved, the strategies to be implemented and the planning to carry them out.A marketing plan is, therefore, the guide that guides the company when determining the steps to follow at all times. In this document, with an investigation developed, the deployment of its economic viability, the delimitation of short and long-term objectives and the timing of actions to be carried out, etc .; the company will know how best to attract customers and what KPIs to measure.This document is usually valid for one year. New year, new life, or so they say.Therefore, it is convenient to review it annually and renew it to develop new objectives, re-study the market, evaluate the competition, our public, what we have achieved and propose new actions to adapt to a new reality.

Although it is a lot of work, it is important to check that everything we have implemented has worked, as well as to evaluate the current situation and the positioning of the company in the market.CTA – Hire HubSpot with InboundCycle
Why is it important to develop a marketing plan?
Marketing is characterized by measuring everything that happens in and around the company to create a better customer experience, improving products and / or services, and optimizing the ways in which the company connects with its customers or potential customers. .For this, it is essential to start from a deep investigation, so that the strategies developed by the company are correctly directed and planned.As we mentioned, the purpose of a marketing plan is not only to develop a roadmap for the entire company, but to develop a justification for the actions to be carried out and explain how to achieve the objectives set.In this way, we can continue to grow and build the foundations for the flow of customers to gradually increase.In other words, a marketing plan is important for several reasons:

To know our market share and obtain a more comprehensive view of the sector.
It makes you better know your competitors and, above all, the pain points of your buyer persona.
It allows you to define a communication strategy, propose actions focused on the objectives of the company and ensure that they are consistent with each other.
Plan your actions throughout a year (or the established time) so that you can know what budget and what resources to allocate to each one of them.
Avoid unpleasant surprises that get in the way of meeting business goals.You will be able to carry out periodic evaluations to check ROI and make improvement decisions.
Goals in a marketing plan
Before entering the different phases that your marketing plan must go through, it is essential that you set goals for yourself on a professional level, both in the short and long term.It is very important that these objectives are SMART: specific, measurable, achievable, relevant and defined in time. Otherwise, you will only generate frustration on your team. An example of goal formulation could be: increase visits to the company’s website by 25% in 12 months.Write down each and every one of your objectives in the marketing plan and add to each of them a deadline or deadline to start organizing your marketing actions.

Do you want to create a digital marketing plan? Click here and download our customizable digital marketing plan template.
Basic structure of a marketing plan
Any marketing plan must contain the following structure so that all its corresponding sections can be adequately developed:Analytical marketing: initial investigation of both the company itself and the market and the competition.
Strategic marketing : definition of the strategy that we are going to follow with our marketing plan.
Operational marketing : Actions that we are going to develop to carry out our strategy, as well as its economic viability. At this point the 4 Ps of marketing are ddressed: product, price, distribution and communication.How to develop a marketing plan: all its phases step by step
Below I detail the parts that every marketing plan must develop to complete this structure.PART 1. Analytical Marketing Step by Step
The points that we develop in this section are among the most important, since they give you an objective vision of the situation of your business in the market compared to your competitors and with respect to the current socioeconomic situation . This will be very useful to know how you can differentiate yourself from them and develop a SWOT analysis (weaknesses, threats, strengths and opportunities).

In a very summarized way, to complete this section of the marketing plan it is recommended that you do a study of, at least, the following factors of your company:Main characteristics of your business.
Political, social and economic situation of the sector to which your company belongs.Characteristics of your target audience.
Positive and negative characteristics of your competition.
Below we break down the analytical marketing sections of a complete marketing plan:1. The internal analysis of a marketing plan
Define your business in detail. In developing these points, all aspects of the internal structure that may affect the planning and development of the company plan must be analyzed . They are as follows:

History of the company and its products.
Characteristics of the ownership structure.
Mission and strategic intention.
Organization and internal organization chart.
Productive capacity: In this aspect, it is necessary to determine if the company is capable of meeting the demand that is generated, since, otherwise, the possibility of increasing production capacity or outsourcing it must be foreseen.
Financial capacity: carry out a study and analysis of the company’s financial balance and its operating accounts. To launch a product, financial resources will be needed and it will be necessary to know if the company has them.
Commercial capacity and structure.
Target markets and audiences.
Distribution channels used.
In addition, it is interesting to detail whether the company has R&D capacity or general pricing policies. All these points will help us to establish what the strengths and weaknesses of the company are in order to later develop the SWOT matrix.Horizontal CTA – Online inbound marketing course
2. Socio-economic and legal analysis
It is about studying the macro environment that affects the company or that may affect the launch of the proposed product or service. It is essential to include these two points in this section:

Reference legal regulations (both nationally and internationally).
Analysis of the main socioeconomic factors that affect the product: general economic situation, general social and cultural situation, and general political situation.This will help us to know what the situation the company is starting from (economic crisis, local, regional, state or European financial situation, etc.) and by what rules it should be governed.3. Consumer analysis
As its name indicates, in this section we must be clear about who our consumers are and analyze them .This is one of the most important key points when carrying out our marketing plan.Demographic analysis.
Global volume and potential.
Buying roles.
Existence of consumer brakes or their accelerators.
To have a clearer idea, establish who is the buyer persona of your business, that is, the ideal profile to which we are addressing.

4. Competitor analysis
We also need to know our competitors, and to do so, we must analyze them one by one. For this, it is convenient to develop a structure of aspects that we will analyze in each company and to draw up a map of competitors in which we distinguish different types of competitors based on which ones can have more impact on us or who are more similar to our products / services. For example: direct / indirect competition, organic / PPC competitors or online / offline competitors.New call-to-action
First, perform a quick analysis by checking the performance of your main competitors in the SERPs and on social networks, as well as analyzing how their websites are.Second, choose the competitors you want to dig the most into to evaluate more details at this point. Among the aspects that we must analyze, we highlight: define who are its owners, business philosophy, estimate annual sales figures and market shares, observe how your organization is, the positioning of your products, marketing strategies you use, distribution channels, organization commercial, etc.

Thus, the following points are also relevant:

In which sector or sectors does it operate?
Who are your consumers? How do you get them?
What is its geographical location?
What general pricing policies do you have?
What are your goals and what marketing strategies do you use?
The promotional, advertising and merchandising campaigns carried outYour customer service levels and your loyalty campaigns
Strengths and weaknesses of each competitor
5. Market study
To carry out the market study we will need to analyze the evolution of market sales in the last five years. Therefore, it will be necessary to have business figures from the main companies in the sector and their market shares, somthing to which we do not always have access.This will help us to calculate market shares by product category, carry out a sales study based on the geographical area and establish the seasonality of sales.At the same time, to develop a good market study we can develop the following:

Strategic analysis of the market.
Porter’s Five Forces Analysis.
Analysis of strategic groups, that is, making group maps by identifying strategic dimensions.
Analysis of rivalry between strategic groups.
6. Commercial study on the product
This section tries to study the company’s product at a generic level to specify its notoriety, attributes and life cycles. In this way, we will talk about substitute products, about which are their complementary ones or the levels of the product range.7. Commercial study on prices
As in the previous section, it is about analyzing the prices of the generic product. In it we will see:Product price levels.
Sales quotas by price band.
Elasticity of demand versus price.
Levels of price perception by the consumer.
Summary of most important aspects.
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8. Commercial study on the purchase process
Understanding how the purchase process for a generic product currently works in the company is of vital importance when determining factors such as the existence of purchase brakes or their accelerators, annual rate of purchases per customer, purchase frequency, customer volume , degree of loyalty, captive purchase, etc.

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