5 Key Components to a Marketing Plan
There are times when taking a leap of faith has to be the first step, but starting to develop a solid marketing strategy is not one of them. A successful marketing plan relies on an organized foundation and careful preparation. Here are five key components to include in yours:
It may seem like a no-brainer, but it’s crucial to have a thorough understanding of the market you are in before creating any marketing materials. Identify potential buyers, trends, competitors, and if there is a need for your product at all. Is there already a similar product on the market? If so, how did it perform? How will yours be different?
Once you’ve identified the potential buyers in your market, it’s time to go deeper by making a buyer persona. Buyer personas are detailed descriptions of your ideal audience based on data, interviews, and inference. They include qualitative and quantitative information, such as age, annual income, hobbies, and goals. Still not sure where to start? Check out these buyer persona resources from our friends at HubSpot for templates and inspiration!
Once customers begin to consider your brand, they will want to know what you stand for and your purpose or mission statement. A mission statement is a sentence or two that describes your company’s intentions, values, and goals. Display your mission statement on your website, either on the homepage or some variation of an “about” page. This will help potential customers identify with your brand and its values and eventually purchase your product.
Once you have an idea of the steps you want to take to market your product, it is crucial to structure them in a time-sensitive format. A timeline will help you stay consistent, make progress, and have specific time frames to analyze data. It also assures everyone on your team is on the same page and enforces deadlines. Timelines work best when made visual, utilizing different colors to identify tasks for various departments and groups. You can find timeline templates online or make one yourself using design software such as Canva.
Without an established and organized team, it can be easy to lose track of goals, deadlines, and assignments. Clearly define each team member’s title, role, and personal and professional goals before you begin implementing your plan. Holding quarterly or semi-annual check-ins can help boost the incentive to meet these goals. Project management software can also be extremely useful in assuring everyone on the marketing team and within the entire organization stays connected and up to date.
Marketing isn’t always easy, and success won’t come overnight. But with consistency and a plan outlined with the steps above, you’re on your way to rewarding results.