How to Create a Marketing Plan Template (Part 2)
Have you read the first part of our ‘Marketing Plan Template Creation’ series? In case you want to find out more about the first two key elements of the template we advise you to go back and read the executive summary, and the situation analysis.
Before diving deeper into the ‘body’ of the marketing plan template and discussing elements 3-8, we’d like to highlight once again the importance of a thorough customer and competitive analysis. And here’s why evaluating the business environment is crucial:
NO CUSTOMERS => NO SALES => NO BUSINESS !!!
Core elements 3 – 8 of your marketing plan template:
Include both the overall business and marketing objectives. I also suggest you divide your marketing objectives into short-term (1 year) and long-term (3-5 years) goals.
#4. Marketing Strategies & Programs
Always track your market and customers via market research. How are you going to target your audience? What segmentation strategy will you use?
Focus on your marketing milestones:
- Product, Branding
- Create a media plan
- Sales strategy
- Distribution strategy
- Advertising and promotional strategy
- Pricing strategy
- Loyalty programs
- Online marketing strategies
If you are involved into internet marketing we highly suggest you include another bullet point where you focus solely on your online marketing strategies. Feel free to create a separate online marketing plan template.
#5. Marketing Implementation
Provide a list of resources and requirements (technical, pricing requirements). What marketing materials do you need? Organize your customer service and salesforce. Specify the market tests and loyalty program elements you will require.
Marketing planning is an ongoing business process. By evaluating and monitoring your activities and strategies regularly you ensure that your business stays on track. You can review and adjust your marketing plan template anytime.
Use metrics to evaluate your ad campaigns and sales activities. Generate sales reports and share these with your team. Tracking progress of marketing activities is essential. If something is not generating the results you want consider brainstorming thus allowing you to take better fact-based decisions.
This part includes the financial statements and projections (eg. sales projections for 1-5 years). A marketing budget plan will detail the funds allocated to different marketing activities.
#8. Supporting documents
Attachments can consist of customer surveys, market tests, financial documents, resumes etc.
Don’t underestimate the importance of a marketing strategy plan. Consider it a KEY INGREDIENT of all your marketing activities and thus of your business plan.
Did you find our two part ‘Marketing Plan Template Creation‘ series helpful? Are there any particular aspects of a marketing plan you would like to learn more about?
Please feel free to share your insights and experience with your own marketing plan template.