There is an abundance of jargon when it comes to business marketing. However, if you want to be successful, you need to have a solid understanding of marketing concepts and techniques.
Marketing planification is a step-by-step process that will enable you to develop a direct and online marketing strategy for your business. The process will guide you in developing a plan that is aligned to your goals and objectives, and helps you measure the success of your efforts.
Develop a Vision and Strategy for Your Business
One of the first things you will want to do is to develop a vision and strategy for your business. To achieve this, you will want to take some time to think about what you envision for your company in the next few years. You should also consider the strengths and weaknesses of your product and service, as well as the needs and wants of your customers. Consider developing a benchmark for yourself, and hold yourself accountable to it. There should also be a clear connection between your strategy and your actions.
Develop a Marketing Mix
You will then want to develop a marketing mix for your business. The marketing mix is made up of all the various tactics and strategies that you will use to promote your business. The goal is to have a complete strategy, which will govern the way you communicate with customers and potential customers. You need to have a variety of tactics and strategies at your disposal, which means you will need to develop a marketing plan that is comprehensive and robust. To achieve this, you will want to develop and implement a marketing plan that is aligned with your overall business strategy.
Determining Key Performance Indicators
The next step in the process is to determine key performance indicators (KPIs). These are measurements that you will use to determine the success of your marketing plan. You should consider developing a set of KPIs that are specific to your marketing plan, and are connected to the achievement of your goals and objectives. For example, if one of your goals is to increase brand awareness, then the key performance indicator (KPI) could be brand awareness.
The purpose of the KPIs is to provide you with a benchmark for measuring your success, as well as the success of your plan. This will help you determine whether or not you are meeting your objectives, and if there is a need to change anything about your plan. You can use the KPIs to track your progress throughout the life of your plan. Consider also creating a graph or a table to show the correlation between key performance indicators and the success of your plan.
Determining Marketing Performance Targets
Once you have your key performance indicators in place, you need to determine marketing performance targets. Marketing performance targets are simply the numerical goals that you set for your marketing plan. The main purpose of the targets is to provide you with a benchmark for measuring the success of your plan. For example, if your top marketing goal is to acquire 10 new customers this year, then your marketing performance target for this year would be 10 new customers.
You should also consider developing a map, which will lay out the various strategies and tactics that you will use to achieve these performance targets. To determine the effectiveness of your plan, you will want to consider reviewing the progress that you are making at the end of each month. This will help you identify areas where you need to make changes to improve your performance, and where you are exceeding expectations.
Align Your Marketing Plan to a GRID
A GRID is an acronym for the four steps that you need to follow to achieve effective and successful marketing. These are;
The first step in the alignment process is to set your goals and objectives for the plan. The next step is to list the reasons why you believe that your plan will achieve these goals and objectives. The last step is to measure the success of your plan; this should be a reflection of your efforts, and should provide you with the data that you need to understand the effectiveness of your plan.
When you have followed these four steps, you have developed a robust and well-rounded marketing plan that is specifically tailored to your business.