8 Steps to Effective Marketing Plans
Marketing

8 Steps to Effective Marketing Plans

By April 6, 2021 April 7th, 2021 No Comments

A marketing plan is guided by the strategic plan. It provides a snapshot vision of the campaign goals, and objectives and how to achieve them. It also provides a detailed map that will guide team members to achieve the same goal. The outcome is an efficient, timely campaign that gains maximum exposure for your product or service. It also allows you to keep to budget.

1

Analysis

Review SWOT and Situational and Environmental analyses in your marketing plan. Identify any issues which may impact your campaign. Examples may include the industry life cycle, industry attractiveness, economic characteristics etc. By identifying industry and economic determinants you will be able to plan your marketing strategy around industry movements to gain maximum return.
2

Objectives

4 main objectives may include:
• To generate market awareness
• To generate response and consideration of your product
• To convert prospects into customers
• To increase sales
These objectives should be quantified so that there is a tangible target to aim for.
3

Budget

This will depend on the type of marketing to be undertaken.

• Artwork
• Printing
• Market Research
• Mailing or emailing
• Media costs
• Stationary
• Agency fees
• Other
• Sub total
• Staff time

Total cost

4

Market Research

• Secondary research can identify issues or trends that will improve or impede your campaign.
• Test your campaign through a small number of customers
• Survey a selection of your market via telephone or digital media.
5

Target Market Selection

Choose target markets that will generate the best return for your campaign.

Consider:
• The preferred market position for your products
• Whether your market knows or understands your brand name
• The buying patterns of your market

6

Develop marketing mix

• Price
• Product
• Place (distribution)
• Promotion
• People
• Product
• Performance
7

Implement

• Time frame for campaign
• Identify key team members responsible for specific tasks and monitor their progress
• Communicate responsibilities clearly to every team member.

Monitor the campaign

Response Analysis:
Total number of prospects
Total number converted to customers
Total number of sales

Cost per prospect
Cost per sale

Return on Advertising Spend (ROAS)
Total sales revenue:
Total sales campaign cost:

ROAS :
Once a budget has been identified, you should consider setting up a measuring device to record your return on advertising Spend.

8

Review

If you don’t understand why you were successful, or where you went wrong, you cannot expect to exceed or improve in the next campaign.

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