Published 06th January 2011 | General Marketing, Marketing Planning

5 Reasons You Need a Marketing Plan

Is your company good at at marketing? Who buys your products or services? Why do they buy them? How do you find new customers? And how do they find you? Are they happy?

If you can answer these questions, you probably don’t need to read this post. If not, you could probably do with a marketing plan.

A marketing plan is vital in uncertain economic times, and will bring greater definition, direction, focus, structure – and improved sales to your business.

Without a plan of some kind, you risk being reactive only, on the back foot, stressed and pulled in every direction.

If nothing else, a Marketing Plan is good discipline, and will shape your business marketing mindset. Here are our 5 Reasons Why You Need a Marketing Plan:

Definition: helps define your goals
Your Marketing Plan will help you define your targets i.e. where you want to get to. You’re at Point A now, and you want to get to Point B. Where or what is ‘Point B’? Sales turnover? Number of customers? Gross profit?

Direction: shows how you will achieve your goals
Your Marketing Plan will give you a road map for reaching your goals. If your ‘Point B’ is doubling your sales, you’ll need clear marketing strategy to get you there. Your Marketing Plan will help you identify the actions and milestones to keep your goals on track.

Focus: provides a focal point for you and your team
A Marketing Plan gives you and your whole team something to get behind. Sharing the plan will help your staff understand your business goals, give them confidence that you know how you are going to achieve them and re-inforce the importance of their role.

Structure: Helps you stick to your game plan
Your Marketing Plan is a written document that acts as a reference point. It can stay as a constant even when your business or staff changes. By documenting your Marketing Plan, you are much more likely to follow them through to conclusion.

Improved sales: Helps you understand your market better
Writing your Marketing Plan will make you analyse your key competitors, the prices they charge, how they sell their products and their strengths and weaknesses relative to your own. This is the market you are operating in, and knowing more about it will inform and improve your sales approach.

There are lots of other very good reasons you need a Marketing Plan. It won’t be the answer to all your business problems, but it will help you focus on the areas of your business that matter most: customers and sales.

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