What Is A Marketing Plan?

What is a Marketing Plan?

A marketing plan is a business document outlining your marketing strategy and tactics......
It's often focused on a specific period of time (i.e. over the next 12 months) and covers a variety of marketing-related details, such as costs, goals, and action steps.

But like your business plan, a marketing plan is not a static document. It needs to change and evolve as your business grows, and as new and changing marketing trends develop.

Purpose of a Marketing Plan

Many business owners create a marketing plan and then set it aside. However, your marketing plan is a road map providing you with direction toward reaching your business objectives. It needs to be referred to and assessed for results frequently.

While some small business owners include their marketing plan as part of their overall business plan, because marketing is crucial to success, having a comprehensive, detailed marketing plan on its own is recommended. If you don't want to make a mini-plan as part of your business plan, you can attach your full marketing plan to the business plan as an appendix to the business plan.

Benefits to a Marketing Plan

The importance of a detailed marketing plan can't be overstated. Marketing is as important as the product or service you provide. Without marketing, consumers and clients can't find out about you. If they don't know about you, they can't buy fro you, and as a result, you won't make money. A marketing plan:

• Gives clarity to who your market is. It's easier to find clients and customers if you know who they are.
• Helps you craft marketing messages that will generate results. Marketing is about knowing what your product or service can do to help a target market. Your messages need to speak directly your market.

Provides focus and direction. Email, social media, advertising, guest blogging, direct mail, publicity, and on and on. With so many marketing choices, you need a plan for determining the best course of action for your business