A key component of any successful business is a marketing plan. Ineffective marketing is one of the three critical mistakes companies make when launching a product. A marketing plan acts like a blueprint for the coming year in terms of where you want to spend your advertising and marketing efforts. It includes specific objectives as well as timelines and financial resources needed to accomplish those objectives. Regardless of your marketing budget, there is plenty you can do to help spread the word about your product and start making sales.
Here are a few questions that will help you create an amazing marketing plan for 2018.
Did you meet your 2017 goals?
Before you start thinking about what you want to achieve with your marketing in 2018, it’s a good idea to take some time and reflect about 2017. Hopefully you kept track of what worked and what didn’t in regards to your 2017 marketing efforts. If you didn’t meet your 2017 goals, do you know why? Take some time to think about this and brainstorm because once you figure out what went wrong in 2017, you can make the necessary changes and incorporate them in your 2018 plan. If 2017 was a great year for your marketing then make a note of the tasks you want to repeat in 2018 and include them in your marketing plan. Take some time and schedule them in your calendar too.
What are your 2018 goals?
When thinking about your 2018 goals, remember how you plan to sell your product. Different market avenues will require different marketing strategies so knowing whether you are going to focus on ecommerce, retail, or something else, will help you develop the best marketing plan. Once you know how you will sell your product, you can create a plan with this end goal in mind.
What is your budget?
You can create an effective marketing plan regardless of your budget but it’s important to know what your budget is so you can stick to it and avoid unnecessary costs. There are plenty of ways to create buzz for your product on a low budget, including maximizing your use of social media, connecting with existing customers, and building an email list. The key when it comes to developing your marketing plan is to keep your budget in the back of your mind and make sure your marketing activities accurately reflect your budget.
What are your necessities versus your nice-to-haves?
Along the same lines as your marketing budget, knowing what your marketing necessities are as well as your nice-to-haves, will help you stay on budget. A necessity is something that is fundamental to achieving your marketing goals. A nice-to-have, on the other hand, is something that might add to your marketing efforts but isn’t going to make or break your goal. In other words, if you can achieve your marketing goals without spending the money to buy fancy pens with your company logo on them then skip the pens.
Now that you’ve considered these questions, you’ll have a good start on your 2018 marketing plan but to be the most effective, a marketing plan should be a very detailed, comprehensive document. If you’ve answered these questions and you’re not sure what your next step is, we can help. At Pivot International, we offer business development services, including creating marketing plans, to help ensure the success of your product. To learn more about how we can help with your marketing plan for 2018, contact us today.