Marketing is not the hardest thing on earth. But this doesn’t mean it doesn’t need to be written down. Most strategists claim that a written marketing strategy is not necessary for a business’ success. However, having a written marketing strategy allows you to have a stern focus and keep track of your business’ progress and be able to measure your progress via results.
Most businesses think that marketing solely involves advertising and other promotions. However, marketing has several components including pricing, distribution, product development, sales projection, advertising and finally targeting. Each of these areas is important and are critical to the big picture. They all need to be well planned and well thought before any cash is spent on promoting your services or products.
A well-written plan acts as a reminder of the main goal which will come in handy when you are feeling overloaded daily. It acts as a roadmap that keeps you focused on all your set objectives.
Although this is a road map, unexpected challenges and opportunities are destined to come up, but having a defined plan you will be in a better position to assess the unexpected information and make decisive choices which will not affect your goals and if they will affect your goals it will be positive.
A well thought out plan not only gives focus to you but also to your subordinates. This is when it assists your employees to have a clear understanding of the companies’ goals and give them empowerment when making decisions parallel to the company’s objectives.
Tracking of your progress on a regular basis enables you to be able to know and understand what is working and what is not. Without tracking and identifying your performance you increase your risk of failure.
Having a marketing plan includes having tactics, quantifiable objectives and milestones that will have a direct relation to your goals. Your plan will clearly outline what is set for tracking and what procedures will be included.
Measure Results of Tracking
Gauging the results of your inventiveness allows you to have a clear report and change what needs to be changed to succeed or improve.
A written marketing plan keeps you on track and keeps you focused on what is important. This, in turn, ensures your business is always on track and when the unexpected happens you have a roadmap back to what made your business successful.