Guest Blog: 16 Reasons Why Your Business Needs a Marketing Strategy For 2016
No one likes taking risks unnecessarily or spending money if they don’t need to. Nicole Martin director of Pinpoint Marketing writes to show you the benefits of a marketing plan and why every business must have one going into 2016. This article will be an example of how an implemented marketing plan using a variety of marketing techniques can AND does work.
16 Reasons Why Your Business Needs a Marketing Strategy For 2016
Even though we are already in March, it is not too late to re-evaluate your marketing goals and plans for the year.
Embarking on any kind of marketing activity should be seen as the start and not the end. I liken marketing to building a house as you need solid foundations before making plans and starting to build. The foundations of marketing are the Marketing Plan. “Fail to plan and plan to fail” as they say.
Firstly, here are the reasons your business MUST have a plan:
- Avoid guesswork and make informed decisions
- Minimise taking risks with your business
- Know you are talking to your customers in the right way with the right content e.g. personalise!
- Spend your budget wisely by using facts
- Identify new opportunities within your market
- Ensure you use the right blend of the marketing mix
- Know your customers/target audience
- Identify any potential threats within your market
- Uncover problems before they manifest themselves
- Maintain and grow your reputation to customers, potential customers, suppliers and partners
- Manage the resource you have internally and externally to maximum capacity
- Establish your position in the market
- Differentiate from the crowd and know your USP (unique selling point)
- Be proactive not just reactive
- Get your brand out there and become recognisable as a thought leader in your industry
- Plan ahead for 2016 and beyond
Why is marketing planning important to a business?
If you haven’t set any objectives for your company and your marketing activities, how can you decide at the end of the year if you have achieved what you set out to do?
Also if you don’t know where your leads or prospects are coming from then how can you know where to focus your time, budget and effort on? I say the best way to implement marketing successfully into your company is to create a marketing plan.
What is a marketing plan?
This is the document in which you will decide your goals, learn about your market, determine who you are going to sell to, determine how you are going to sell, confirm your messaging to your potential customers, confirm your budget and set your business milestones to keep everything on track.
There are 7 stages to a comprehensive marketing plan including
1. Objective Setting – set yourself goals
2. Defining the messaging – what points do you want to convey to customers and leads
3. Defining a strategy – how are you going to achieve your goals and get your message across
4. Defining the target audience – who is it who buys or should buy your product or service. Who are you trying to reach?
5. Developing the tactics
6. Implementing the plan – how are you going to achieve your goals through plans? Such as advertising, PR, email marketing, online marketing, social media and so on
7. Measuring and evaluation – follow up! Make sure you know your ROI (return on investment)
Having a plan will make you more focussed and more successful and it will make the most of your budget.
Good luck for a successful 2016!
Nicole Martin is an experienced and reliable marketing consultant, specialising in small businesses.
Nicole works with clients to understand their business, market, budget and objectives, before helping them create and implement a strategy to grow their leads and profits.
Nicole is keen to work with SME’s needing a marketing strategy and monthly email marketing. As an SME herself, Nicole practices what she preaches. She delivers marketing that is cost effective, measurable, successful and constant.
Thank you so much for sharing your expertise on creating a Marketing Strategy Nicole!
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