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Marketing Plan: What Is It and How Does It Help?

When you first go into business, you normally write out a business plan to list your goals and how you want to attain them. A marketing plan is similar. Although you might have been able to write a business plan and stick to it, writing out and sticking to a marketing plan can be challenging for some business owners.


It can be challenging and time-consuming for someone not as familiar with marketing as they are with the business itself, we offer services to help aid you in writing out a marketing plan specific to your business. You can find those services listed here, https://www.elementalplans.com/services. Head over to our contact page and fill out the short form and we will contact you ASAP! You should never have to worry if you’re doing enough, we are here to help!


What Is a Marketing Plan?

So, what exactly is a marketing plan? A marketing plan is a document that details your specific advertising/marketing goals and strategies. It also lists out how your business will implement these goals and strategies and how you are to measure their success and/or failures over a specific period.


You may hear marketing strategy and marketing plan used interchangeably in the marketing world. Although the two are similar, one stems from the other. The actual marketing plan is framed around the overall marketing strategies of the business. For smaller businesses, the two can be contained in a single document because the amount of marketing and campaigning one does for smaller businesses is quite a bit less compared to a major corporation.


To put it in simpler terms, the marketing plan has a specific period of time for its goals. It can be monthly, quarterly, or even on an annual basis. Whereas with a strategy, it is a description of how you will accomplish said goals. There is one marketing plan but numerous marketing strategies that make up that plan.


There Are Types of Marketing Plans?

Now that you have a firm grasp of the two concepts, we can dig a little deeper into the different “types” of marketing plans. Each business should have a unique marketing plan specific to its industry and its business needs. Some types you might see are:

  • Time-Based Plans - These plans focus on a specific time of year (think Christmas, Labor Day, etc.) and what marketing strategies would best suit that specific time. Most companies amp up advertising around the holidays and using a time-based plan can help you plan out how you will tackle said holidays.

  • New Product Launch - You’ve developed a new product and are ready to introduce it to your customers. Using this type of marketing plan will help you sketch out how you want to market that new product. You may want to market it differently than your other products. This will help you focus on its product launch and plan how you want to push that product out.

  • Social Media - This type of plan is critical to any company wanting to have an online presence, which is usually necessary in today’s modern world. In this plan, each strategy is a different social media platform and how you plan to advertise/market on that specific platform. In this way, you have everything in one place, concise and put together to follow. You may have a different strategy for each platform, but the convenience of a plan is that it puts all the strategies in one place.


Benefits of a Marketing Plan

Just like with any business, a business plan is necessary. A marketing plan should be viewed in the same way. You cannot run a successful business without a marketing plan. If you aren’t marketing your product, who’s buying it?


Here are a few advantages that we think would benefit you and your business from developing a solid marketing plan:

  • Helps narrow down who your target audience is and how best to market to them

  • Identifies the strengths and weaknesses of your competitors and the advantages you may have over your competition

  • Creates measurable goals

  • Creates clarity on how to attain said goals

  • Creates consistency within your business. You may be small but even one extra person can throw something off if you are not all on the same page.

  • Helps with budgeting and staying on track with your marketing budget

  • Most importantly, motivation to attain your goals. Because you are able to track each goal, you can see where you are at and what you need to do to push further to attain that goal.

We could go on and on with all the advantages we believe a marketing plan can bring your business, but you must see it to believe it. If you’re a new business and have no idea where to start, please reach out to Elemental Plans. We would be happy to sit with you and discuss the ways we could contribute to your overall marketing plan. If you are needing one written, again, reach out!


Sources

HubSpot, “What is a Marketing Plan & How to Write One [+Examples]”, Clifford Chi, August 29 2022, https://blog.hubspot.com/marketing/marketing-plan-examples, Accessed September 6 2022

Investopedia, “What Is a Marketing Plan?”, James Chen, August 23rd 2022, https://www.investopedia.com/terms/m/marketing-plan.asp, Accessed September 6 2022

Successwise, “8 Reasons Why You Need A Marketing Plan For Your Business”, https://successwise.com/8-reasons-why-your-business-must-have-a-marketing-plan/, Accessed September 7 2022

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