What Is The Main Purpose Of A Marketing Plan? Key Steps And Examples Of Marketing Plan
The Marketing Plan is a fundamental document that all marketers need to guide our actions. Without it, it is impossible to optimize the management of all channels to achieve the best results.
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Key Steps Of Marketing Plan
The objectives are a key part of a Marketing Plan, but that does not mean they are the first thing to be defined. And is that to be realistic, we first have to be well informed about what the environment of our brand is like and what we can aspire to.
- The current situation of the company, including both internal and external factors. The external ones are the general situation, the characteristics of the sector and the market. Inmates refer to our own company, for example, the staff and resources we have.
- The situation of the competition. That is, what are the main brands that compete with ours and what is their situation in the market: budget and volume of business they manage, price of their products or services, sales process, customer acquisition.
- The general objectives of business. For a company to succeed, all departments must row in the same direction. Therefore, the marketing plan must respond to the general goals of the company. And different objectives can be compatible or even complement each other
Examples Of Objectives Of A Marketing Plan
1. Publicize The Brand Among The Target Audience
Occasionally, we will find ourselves at the forefront of a new brand, which is aimed at a different audience than usual or that for any other reason needs to make itself known and increase its visibility
2.Increasing The Market Share
This objective is closely related to the study of competition since the position of a brand in the market is always relative. Depending on the existing brands and our means, we will define a specific position in the market (the objective does not always have to be to become the leader, as this is often not achievable).
3. Launch A New Product
Launching a new product always gives the marketing team a lot of work, as you have to inform the public about what’s new and get them to “stand out” among customers.
For this objective to be successful, it is essential to define the launch price and positioning well and to have a well-thought-out communication strategy.
4. Introduce The Company In New Markets At An International Or Local Level
As in the case of the launch of a new product, positioning and communication strategy are key. We must also have cultural and consumption differences in different markets.
5. Increasing Company Profits
In this case, the company will focus on improving its economic results during the period of time to which the plan refers. To do this, actions and metrics can be oriented in two different directions: reducing costs, increasing benefits, or both. In the first case, the optimization of advertising on search engines, social networks, and other digital media may be key.
There is no use getting a large number of impacts if we do not get users to convert. Therefore, a good marketing plan takes into account the different stages of the conversion funnel to reduce dropouts and ensure that as many users as possible become customers.
7. Attracting New Clients
A classic marketing objective: to increase the brand’s customer base. Discounts and onboarding deals are the classic tools to do it, and the measurement is usually quite intuitive.
8. Building Customer’s Loyalty
The other side of the coin with respect to the previous marketing objective: we not only want to attract new customers but also make them stay with us for a long time since it is always cheaper to keep a customer than to get a new one. So whoever has a loyal customer has a treasure.
This is where the different loyalty and reward programs come into play, intended for the user to make repeated purchases over time and recommend the product to family and friends.
9. Increase In Sales
Here comes the most obvious Marketing Objective: to improve company sales. Here we can distinguish between two complementary objectives, but which may require different actions and tools: increasing the number of transactions (motivating users to convert) or the average amount of each (for example, through cross-selling actions).