How to Create a Marketing Plan – What is a Marketing Plan?

A lot of people have a good marketing plan but they do not know how to execute it. A solid marketing plan can take your business to a greater height and it can also help turn your business goals into reality. They do this by providing your team with deadlines, directions, and actionable tactics. But most people do not know how to create a marketing plan and creating the wrong plan can cost you a lot.

How to Create a Marketing Plan - What is a Marketing Plan?

If you have never sat down to create a good plan for marketing your business then it is understandable that you had be confused about where to start. Having a good marketing plan can improve the state of your business. The way you market your business will determine the kind of customers you get.

In this article, you will find a step-by-step guide that will help you create a good market plan which will work for almost every kind of business. You would agree with me that after employee salaries, marketing is the biggest expense for most businesses. Most business owners spend a lot when carrying out a business plan. And, sadly, most times these plans do not yield any result.

What is a Marketing Plan?

If you are into any business small or big you must know what a marketing plan is and how to create a marketing plan. But if you don’t have any idea of what a marketing plan is then you are in the right place. A marketing plan is a roadmap that helps you set goals, understand your target audience, and also optimize the impact of your marketing campaign.

Why Does my Business Need a Marketing Plan?

If you are amongst those people that ask this kind of question when it comes to their business then you don’t know how to create a marketing plan. A well-researched marketing plan can help you with these.

  • A good marketing plan can help you make better decisions,
  • It helps you to plan ahead of time which can prevent you from making decisions that you might regret.
  • It also helps you to stay focused on the most important things
  • Having a working document of your marketing makes it easier for not just you but also your team and the entire company to work together to achieve a goal.
  • Creating a good marketing plan helps you to understand your business

Without a plan, it can be easy to lose your sense of direction which is why you need to know how to create a marketing plan. It helps you to ensure that your marketing goals are aligned with the vision, mission, and goals of your business.

Elements of a Good Marketing Plan

There are seven elements of a good marketing plan and if you want to know how to create a marketing plan then you should know these elements.

  • Product
  • Price
  • Promotion
  • Place
  • People
  • Process
  • Physical evidence

The seven elements of a marketing plan can be regarded as the 7ps and they are things you should keep in mind when drafting a marketing plan.

How to Create a Good Marketing plan?

There is no one way how to create a good marketing plan but there are guidelines that you must follow. Now follow these steps below to create an effective marketing plan.

  • First, start with an executive summary
  • State your company’s mission, vision, and values
  • Identify the market and completion, and make use of it
  • Define your target customer
  • Outline your marketing goals
  • Present your marketing strategy
  • Define your marketing budget

In addition, a detailed marketing budget will help you hire the right staff and choose between paid resources so you don’t exceed a certain amount. Also, note that your marketing strategy should be actionable and detailed.  Explain each of these steps clearly and do not leave out any information.

10 Marketing Plan Template to Get Started with

Are you confused about the kind of business plan to draft? Well, no worries let’s help you solve that issues. After showing you how to create a marketing plan these marketing templates can be of help.

  • Real Estate Marketing Plan Template
  • Content Marketing Plan Template
  • Digital Marketing Plan Template
  • Social Media Marketing Plan Template
  • Restaurant Marketing Plan Template
  • Product Marketing Plan Template
  • Marketing Plan Presentation Template
  • Personal Marketing Plan Template
  • Marketing Plan Infographic Template
  • Retail Marketing Plan Presentation Template

Learning how to write a good marketing plan helps you to think through the important step that leads to an effective marketing strategy. I hope this article was helpful.