Do you have a marketing plan or a nasty napkin substitute?
Why it’s Important:
Does senior management actually think that its products are so good that they sell themselves without a marketing plan? Sooner, rather than later, this philosophy will fail and you will have competitors that will succeed by out-marketing and out-selling you.
A marketing plan is not:
- Scribbles on a napkin
- Last years plan
- Without a Strength, Weaknesses, Threats and Opportunities analysis SWOT
- A list of tactics
- A budget or a percentage of sales
A real marketing plan has:
- A SWOT
- Goals: A desired future condition: Its criteria is “a time frame which is long range, (3 to 5 years) and expressed in qualitative or quantitative terms
- Objectives: Desired results, specific in nature, limited by time (6 months to one year)
- Strategies: A plan of action to achieve an objective, a statement of broad tasks or activities to achieve an objective
- Tactics: Detailed programs or specific activities, methods to implement the strategy.
- A marketing budget
- Lead Generation projections based on quota needs
A real Marketing plan is:
- Reviewed monthly
- Changes as marketing conditions change
If you don’t have a marketing plan with A Goal, Objectives, Strategies and Tactics, it’s never too late. Make sure the plan has a lead generation component (spreadsheet which is campaign based) tied to the sales forecast. Assign tactics to individuals with a date for completion.