Most marketing experts you talk to, will tell you that you need a marketing plan for your business.
And that’s true – you do need a plan.
Many of those same experts will tell you to include the following in your plan:
- SWOT analysis (strengths, weaknesses, opportunities & threats)
- PEST analysis (political, economical, social & technological influences on your business)
- Competitor analysis
- Positioning statement – where you are placed in your industry against your competitors
- Profit & loss plus cashflow
- Marketing budget
- Marketing strategy, objectives and tactics
Now don’t get us wrong, having a handle on these things is a good idea, but if you are not careful suddenly your plan becomes an enormous doorstop. It gathers dust in some corner, and is never looked at again.
So, what is the answer?
We believe the answer is to have a marketing action plan. A brief two or three page document detailing the marketing tools you are going to use, the timescales, and who is responsible. Better still – why not code the plan (we’re big fans of the RAG approach: red, amber, green) to quickly see where you are against your plan?
But don’t be afraid of getting a handle on all the answers for a full marketing plan – you should have a good understanding of where your business is in the marketing place.
If you like the idea of putting together a marketing action plan, give us a call on 01256 83 11 10.
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