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10 Essentials of A Marketing Plan in 2016

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10 Essentials of A Marketing Plan in 2016

By Tim Berry, Guest Blogger
Published: February 23, 2016 Updated: February 23, 2016

Clearly, technology has changed marketing a lot. We fast forward through ads on television and block them on our devices. We have amplified word of mouth in social media. We pour over analytics and metrics. But what about the marketing plan? Has technology changed marketing planning?

One thing for sure: The fundamentals still apply. As much as ever, marketing is still getting people to know, like, and trust your business. As much as ever, marketing still needs defining target markets, knowing those market segments, reaching the right people with the right message. Pricing is still the most important message, and the lowest price is – as always – not necessarily the best price.

Another thing for sure: the marketing mix, the tactics, are changing rapidly. Goodbye to the yellow pages, hello Facebook. Goodbye public relations, hello social media. Goodbye advertising, hello content marketing.

And where is the marketing plan, in all this? Let me suggest x essentials of a marketing plan for 2016.

A classic marketing plan might include the following pieces:

  1. Target Market. The better you define it, the better for the marketing. Experts recommend describing an ideal target customer in detail. Don't try to please everybody. Instead, please some specific kinds of buyers who have the right set of needs, habits, locations, etc.
  2. Messaging. A summary of the main tag lines, key selling points, value proposition and so forth (we could call this messaging).  There are a lot of different jargon words for this, so be flexible. 
  3. Media. Discussion of media, which almost has to be social media and content marketing these days, but used to be advertising budgets, placement, and so on. I'm growing more interested in taking steps beyond just content marketing, to distributed marketing, and real engagement. That means something more than "post and pray.' As you think about this topic, think about where your potential customers will see your message. What else do you do to help the right people find your message? To track what they say about it?
  4. Pricing. You have to make pricing match product or service, market, or messaging. Don't assume that the lowest price wins. Pricing is your most important marketing message. Would you buy day-old sushi because it's cheap? Your price needs to synchronize with your product offering and your target market. If you discount excellence, it becomes less credible in the eyes of your potential customers. And if your strategy is selling an undifferentiated lowest price product or service, make sure that matches the rest of your marketing  
  5. Channels. For product businesses you have the classic question of channels of distribution, either direct (usually web and mobile these days) or via distributors and retail, or direct to retail. Information and service businesses need to consider channels too, even though the channels are marketing channels, such as web and mobile. We all need traffic of one sort or another
  6. Promotion. These days promotion might be as simple as consistent presence in the main social media platforms. It might be email marketing, advertising, affiliate sites, public relations, price promotion, and events.
  7. Tasks and major milestones. Every good plan requires some specific tasks and major milestones to make it concrete. Otherwise it's just theory. You need to be able to track progress against the plan. Milestones help us get things done. We work towards goals.
  8. Important metrics. It takes real numbers to actually work a plan. That might be sales, web traffic or store traffic, leads, presentations, seminars, conversions, tweets, posts, likes, follows, or whatever. Make it measurable.
  9. Review schedule. Keep your plan as short as possible, just lists and tables, because it's only good for a few weeks before it needs revision. The real world keeps intervening. You need to plan ahead for a monthly meeting to review results and revise that plan.
  10. Budgets. You have to manage the money. A good marketing plan needs to include budgets for expenses, and the sales that result from the different activities.

About the Author:

Tim Berry
Tim Berry

Guest Blogger

Founder and Chairman of Palo Alto Software and bplans.com, on twitter as Timberry, blogging at timberry.bplans.com. His collected posts are at blog.timberry.com. Stanford MBA. Married 46 years, father of 5. Author of business plan software Business Plan Pro and www.liveplan.com and books including his latest, 'Lean Business Planning,' 2015, Motivational Press. Contents of that book are available for web browsing free at leanplan.com .

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We are a new,small retail store in a very tourist driven business area. We will be using e-mail blasts and Facebook for now,(rather than a website) and are still firm believers in print forms of advertising. We have worked for large department stores and have seen customers get upset with being bombarded with all forms of "social media".I, for one will delete before reading and don't end up having the time to follow all the forms out there. Comments or suggestions please?
Tim, Excellent article. Would you consider writing a follow up on HOW to implement the plan? I believe most small business owners have far more trouble executing their business and marketing plans than creating them. The devil's in the doing as well as the details.
At minimum, I would add that you need to make sure your product is a good fit for the market you're going after, because all the promotion in the world isn't going to help if it doesn't. Once you've got that right, put together a website that emphasizes what makes you different and better than the competition. Do a search on Google for businesses like yours and see what comes up. That's what your potential customers are doing. Then, just like a customer, visit those websites and compare them to yours. How do you stand up? Would you buy from you? If not, time to rework your home page and your website. Then you can go out and promote.
Every marketing plan should start with a few specific, measurable, actionable goals. Every strategy and tactic outlined in the plan should work towards achieving at least one of those goals. I don't think technology changes the fundamentals of the marketing plan as much as it does the tactics. Even still, some tactics are here to stay despite new technologies. For example, you shouldn't throw out public relations in exchange for social media. Social is a great way to enhance PR, but does not replace it altogether.
Tim thank you for your insights and experience knowledge. I am a 3 year existing transportation business. To be more specific, I am a extension of a local city transit where the buses pick-up from bus stop to bus stop; I pick-up at the door from point a to point b, go back to get them from point b to point a. I had one business person to tell me that my business plan was too long, that it should be no more than one to one and a half pages. What is your advice?

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