Planning Process Most businesspeople agree that good planning is essential for success. Even so, it’s surprising how many companies don’t create a thorough plan to generate and manage their customers. A marketing plan is a detailed roadmap that outlines all your marketing strategies, tactics, activities, costs and projected results over a period of time. The plan keeps your entire team focused on specific goals – it’s a critical resource for your entire company. A thorough marketing plan typically includes: Financial goals Sales plan Positioning strategy Major marketing campaigns Brand strategy Detailed budget Product/service overview Dates to review progress Detailed goals by product, distribution channel &/or customer segment It takes time to develop a solid plan, but it’s important because it ties all of your activities to tangible goals. It’s also a great opportunity to focus on the future, generate new ideas, and inspire your team. Even a simple plan is better than none, but when you invest more effort upfront, you’ll have a better roadmap toward your goals. MBA students typically learn how to produce a detailed marketing plan based on Philip Kotler’s Marketing Management textbook. Originally published in the 1980s, this 800+ page textbook is packed with theory. It can be very useful for advanced marketers in big companies, but most small to mid-‐size companies need something more practical. In your marketing plan you’ll define, outline and organize your marketing activities over a period of time. Even a simple marketing plan is better than none, but when you invest more effort upfront, you’ll know exactly what needs to be done, when it needs to be done and at what cost throughout the year. You’ll also have tangible goals so you can measure your progress. This exercise will help you define the scope of the marketing plan you’ll create.
Summary EXERCISE SUMMARY When to Address
If you’re entering any type of revenue planning or budgeting process for any timeframe
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When you’re creating your annual budget If you’re an entrepreneur just launching a new company Who Should Participate Where to Use the Results
Marketing and sales leaders Throughout the rest of the Marketing Plan & Budget section; you’ll reference these throughout the year.
Many smaller companies operate with a budget but no marketing plan. It’s easier to hit goals if you have a plan in place that outlines how to achieve them. All of your interactions with the marketplace What Builds Upon it Why it’s Important
Timeframe to Completion Potential Business Impact
15 minutes to an hour
Medium to High – for all Marketing Plan exercises
Deliverable
You’ll define the scope of the plan to create.
Next Steps
Set your plan objectives.
Target Completion Date
PARTICIPANTS
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TASKS
PERSON RESPONSIBLE
DUE DATE
Notes
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Planning Process
What to Complete
1. DETERMINE MARKETING PLAN SCOPE
Where it Fits in Marketing Plan & Budget Determine Marketing Plan Scope Establish Strategic Goals Establish Numeric Goals Define Competitive Positioning Define Brand Strategy Explain Product and Pricing Strategies Input Numeric Goals by Category Calculate Number of Leads Required Describe Distribution Strategy Outline a Direct Sales Plan Identify Sales Tools & Literature Outline Strategic Partnerships to Pursue Create Customer Retention Plan Identify and Describe Marketing Campaigns Develop Marketing Budget Create Marketing Management Plan Write Final Marketing Plan Document
1. DETERMINE MARKETING PLAN SCOPE Marketing plans can range from something as simple as a 1 page document to a 50+ page document covering multiple product lines and distribution channels. “Traditional” marketing plan templates can be intimidating for a business person without an MBA or marketing degree; they contain a lot of theory that business people can’t always tie to tangible results like market share goals, profit and loss results and monthly sales and marketing activities. There’s nothing wrong with creating a very detailed plan; however, it’s best to create a plan that delivers what you need based on your company situation. Each company is different, depending on company age, revenue, resources available and marketing and sales experience.
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Here’s a suggested process for developing your marketing plan. Many of the subjects pull from other sections. A typical marketing plan & budget will succinctly tie together a company’s entire growth strategy, so it’s the final exercise in the strategy portion of the Marketing M.O. process. In Marketing Plan & Budget exercises 101-‐110 you’ll find a series of broad questions about each subject. If you need more help answering certain questions, you can use the materials in the related subject. Modify the process and the level of detail based on your needs and available time. For example, if you need to prepare a plan very quickly, you may not choose to go through all of the exercises in the supporting subjects. Instead, just respond to the questions in the exercise and do your best. You can always come back and revise your plan if necessary. SECTION DOCU STEP ADD? PREVIOUSLY NOTES MENT # COMPLETED? Set your high-‐level objectives: Strategic goals, 101 Yes revenue goals, profit, # of new customers, etc. Define your competitive positioning: Describe 102 Yes your market, how your product/service solves problems, your value proposition and how you’ll position your value against your competitors. [Competitive Positioning exercises 2-‐6 can help.] Explain your brand strategy: Describe your 103 Yes brand promise, what it means to prospects & customers, and the human traits you want to convey. Then explain how you’ll ensure that everything your company says, shows and does will be consistent with this strategy. [Brand Strategy exercises 20-‐27 can help.] Product & pricing strategy: Determine whether 104 Yes you recommend any changes to your existing product/service portfolio and pricing strategy. [Competitive Positioning exercise 3 , Brand Strategy exercise 23, and Pricing exercises 60-‐ 62 and 66 can help.] Set detailed goals: Break your company’s lead 105 Yes generation goals down by product, channel, customer segment, etc., then further break those down by marketing vehicle (sales team,
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DOCU ADD? MENT #
STEP direct mail, etc.) [Exercise 109-‐A and B supports this step.] Develop your sales plan: Outline your goals and plans for distribution channels, direct sales, sales tools, strategic partnerships and customer retention. [Each of these subjects offers more detailed exercises.] Outline your marketing campaigns: Identify the basic campaigns you’ll be launching during the year along with any resources you’ll need and timing. [Marketing Campaigns exercises 530-‐533, 537 and 538 can help.] Develop your budget: You can either create a basic budget or a very detailed one; the templates will help you summarize key figures. [Marketing Campaigns exercises can help.] Identify next steps: Identify the dates to review the plan throughout the year and modify it if needed. Write final plan document: Organize all of your plan elements into your final document.
106
107
108, 109 (.xls)
110
111
SECTION PREVIOUSLY COMPLETED?
NOTES
Yes
Yes
Yes
Yes
Yes
Plan Period (Year, Quarter or Month)
Target Completion Date
MARKETING PLAN SCOPE
SELECTION
NOTES
Quick Summary (Record key bullet points for each section)
Average length (Address key points in each section)
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MARKETING PLAN SCOPE Detailed (Explore each section in-‐depth)
SELECTION
NOTES
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