This post is the Part 2 of a three-post series to help marketing managers plan, implement and manage a strategic marketing process within their company.
The first post of this series looks into the overall strategy and tools required to understand your brand and how to prepare for the strategic marketing plan.
This post will review how to take the information gathered and create a plan to see results.
The final post will be centred around implementation, monitoring and growth opportunities that will make themselves known upon review.
So, now that you’ve completed the first steps of your strategic marketing process, you can begin the next stage: Planning.
The purpose of the strategic marketing process is to help you develop a thorough marketing plan. This plan will act as your roadmap for all marketing tactics, goals, costs, tasks and objectives. Three things you should achieve from your marketing plan are:
- Clarity of your target audience
- The development of messaging to generate results
- Focus and direction for all of your marketing efforts
Your marketing plan will involve a number of elements and steps in order to be beneficial to your company.
Concepts & Steps
This document won’t happen overnight, but with continual tracking and reference, improvements on your original marketing plan will occur until it’s fully formed and functioning well. The below elements are what helps your strategic marketing process to define a plan:
- Set annual goals: Build your entire marketing plan to achieve the goals that you define:
- Quantitative goals that include, but aren’t limited to:
- Total revenue, profit
- Number of customers
- Sold units
- Breakdowns by product or channel as needed.
- Strategic goals: your strategic goals can be anything from expanding into a new market or new distribution channel.
- Market place positioning and brand strategy (see The Strategic Marketing Process Part 1)
- Product or service improvement plans
- A developed tactical sales plan: This will involve your sales team in order to breakdown:
- The number of target markets, in order of priority, industry or customer segments.
- A current-customer plan
- Any plans that link with your strategic goals to expand your market or distribution channels
- Outline your major marketing campaigns: Outline your major promotional themes for the year, but don’t focus on each and every campaign you plan. Be sure that you have a budget plan also. Your strategic marketing process needs to accommodate for:
- The top three campaigns you’ll run to generate leads, nurture customers, close, and/or market to existing customers
- The channels and mediums you have decided are a best fit for your target audience.
- The tools and resources you plan on using.
- An ROI target
- Develop a budget: Even if it’s an estimate, your budget will help you to define what is realistic for your marketing strategy.
- Review your plan regularly: Ongoing review will keep the plan fresh, and allow you to re-focus on what your objective and goals are.
The final stage of the strategic marketing process is implementation, monitoring and recognising opportunities for growth in your plan.
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If you’re interested in knowing more about creating a strategy for your company, download The Strategy for Success in Today’s Market eBook.