- The process of creating a marketing plan requires definition. This includes aspects of your business ranging from the products or services you offer, to your target market, to your selling goals and objectives. The process, although time consuming at first, helps your sales staff develop a better understanding of the product or service itself, as well as its benefits. Combining this knowledge with a complete target market profile helps as you uncover and evaluate new opportunities to sell.
- A marketing plan serves as a guidebook for current and future marketing campaigns. Starting with the big picture, or your company goals and objectives, it breaks down and outlines steps necessary to communicate your message to customers. Getting this information on paper ensures that no matter how many people come or go over time, the process remains the same. A marketing plan keeps everyone on the same page and working toward the same goals.
- The level of detail you include in a marketing plan can also make it an effective work plan. Breaking down the steps necessary to achieve marketing goals by assigning tasks and making decisions as to the resources you plan to use provides a way to identify what and how you want to accomplish. Task assignment can also help you make decisions about whether you have the right size sales and marketing staff or whether you need adjustments.
- A marketing plan can help you answer questions that tell you whether a specific campaign is an overall success or whether you need changes. It does this by providing ways to calculate a sales conversion rate and return on investment dollars, ultimately telling you whether the campaign was successful. Because a marketing plan shows exactly where you are spending marketing dollars, such as campaigns using the Internet, print advertising, publicity, direct marketing, direct mail, trade show exhibiting, outdoor advertising or sponsorship, evaluation aids in cost control by allowing you to make the best use of your marketing budget.
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