Marketeers are usually good at doing things. We juggle channels, response rates, copy, graphic design, online ad campaigns, customer segmentation etc. etc. We work at speed and to tight deadlines, in order to deliver perfection in image and word form. So, why do we need six steps to great marketing planning?
Because, its a rare skill to plan consistently across 12 months. We get side-tracked by shiny opportunities, new technology, sponsor ideas and demanding sales teams (oh yes).
As a marketing consultant, my job is to stay doggedly focused on the objectives. Clients want creativity, great copy writing and campaign management. However, my most valuable contribution is often to produce a joined-up, deliverable plan.
When I mention planning, many clients glaze over. It requires them to stop doing and start thinking, researching, measuring and reviewing.
If you don’t want the finance team to tell you what your budget is for next year, just memorise these six steps to great marketing planning:
Objectives
Everything begins with what you aim to achieve this year. Start with the financial targets. The revenue goal and number of sales, split by product, sector etc. How much revenue is retained from the existing run rate, and how much is from new customers? Then think about wider goals, such as market share and product launches. Check these goals against last year’s achievements and the growth in your market sector before agreeing what is feasible.
Strategy
The relationship between objectives and strategy is often a plan’s the weak point. The strategy helps you deliver the objectives. So, if your objective is to be the market leader in baked beans; your strategy might be to position the company as a provider of healthy family nutritious foods and to invest in its brand profile. This will ensure that key retailers will stock your product.
Plan
Translate the key strategic strands into a segmentation strategy, a channel strategy, key themes and messaging strategy. Decide on your target segments, which channel combination will be most effective in reaching them and what messaging will have the most impact. Splitting activity by acquisition and retention here is usual and helpful.
Tactics
Tactics are simply a detailed action plan, split by channel, with action owners and a content plan. It is key to prioritise here, so split the plan by quarters and be realistic about resources.
Budget
By creating the tactical plan, reviewing last year’s spend and researching potential suppliers you will be able to estimate costs for each activity. You will then be able to create a reasonable bottom-up budget build. This will mean that you will be able to state what you cannot deliver if your budget is cut partway through the year.
Review
You often create plans at the beginning of the year and then forget them as things change. Write a good plan and it should be easy enough to review and update regularly with your team.
The result? Whilst you might still find yourself simultaneously write a press release, an internal communications update and a blog, you can be confident that your team is always focused and productive.
If you need help with marketing strategy and planning, take a look at my services pages and get in touch lauriedennard@perrfectmarketing.com and I’ll be delighted to help.