What do the stages of the marketing plan consist of? They are the set of actions designed to achieve the objectives set in our marketing strategy. It is important to remember that planning is deciding what one intends to do, even before doing it.
For the design of our plan, it is very important to know the objectives and resources we have and the competition in the market. A marketing strategy aims to control the parameters that influence the results of decisions.
What is a marketing plan?
A marketing plan is like a map: it shows the path and destination of where the company is headed and how it will get there. Through it, the different opportunities that the company has to penetrate a specific market are identified. It includes the characteristics and position of the competition within this market, as well as the techniques and strategies that will be used to position and stay in the market.
Making a good marketing plan and respecting its different stages is key if you want to effectively target the market and consumers. They are the main factors that form the reason for being and goals of the entire company. But what stages does a marketing plan have?
Stages of a marketing plan
Knowing the stages of the marketing plan is something that cannot be missed, and it represents a great step to move from novice to expert in business.
- Analysis of the initial situation. Analyze the company’s position in the market, and in relation to the competition. From this phase, we extract a SWOT analysis, which is one of the most complete and concise screenings you can carry out if you are learning all about how to create a marketing plan.
- Definition of the target audience. It is necessary to know who will consume our content.
- Set the objectives. The achievements we want to accomplish with this marketing plan.
- Strategies. The different actions we will carry out to achieve the objectives.
- Financial program. Distribution of financial resources for the plan.
- Control program. In this phase, the structure of how the results of the different KPIs that will be measured to know if the objectives are being met is defined.
- Analysis of results. Monitoring of the implemented actions to identify what works and what needs improvement.
How to define the objectives of the Marketing Plan
Setting clear objectives in a marketing plan is essential to guide actions and measure their effectiveness. Defining them incorrectly can lead to a high opportunity cost. Here are five crucial aspects to consider when setting these objectives:
1. Business Objectives
It is essential to know the general goals of the company to ensure that the marketing objectives align with the overall direction. This guarantees coherence between departments and a unified strategy.
2. Competition Analysis
Conduct benchmarking to gather information on the main competitors. Analyze their marketing strategy, the market they operate in, their target audience, and identify their weaknesses and strengths. This will give you a competitive advantage and allow you to adjust your strategies.
3. Definition of the Buyer Persona
The buyer persona is the ideal customer profile and is crucial for any marketing strategy. Properly defining it involves knowing their needs, behaviors, and preferences, which makes creating more effective messages and campaigns easier.
4. SWOT Analysis
A SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) allows you to evaluate the current state of your company in relation to the environment and the market. It identifies internal and external factors that may influence your strategy and will help you make informed decisions.
5. Budget
It is vital to be realistic about the available resources. Set objectives and actions that are consistent with the marketing budget. Proper financial planning will help maximize resources and avoid unnecessary spending.
Why is it important?
To understand the importance and need for a marketing plan, we must start from the idea that any business needs to attract and retain customers in order to stay afloat.
Starting from this idea, it is evident that without marketing, the customer does not know your brand or company. You won’t be able to achieve the sales targets that would otherwise be accessible to you.
Marketing influences brand recognition, sales, and profitability. It helps detect and generate new opportunities and business for the company. This activity allows you to know the consumer, define the market niche, and the customer’s needs.
The marketing plan provides an overview of the final objectives and how to achieve them. The collection and preparation of the necessary data for its creation allow you to calculate the financial and human resources available.
Why should you clarify the phases and stages of the marketing plan?
You should not make the mistake of creating the marketing plan in isolation, it should be coordinated and aligned with the company’s strategic planning, and this way, only the needs that must be covered will be addressed.
It is also important to differentiate marketing strategies from sales strategies. The former establishes the general plan, while the latter outlines the operational plan and the number of customers to be contacted to achieve the objectives.
If you’re looking to create a marketing plan for your company, at Dos Setenta, we have extensive experience as a ecommerce agency and digital marketing. We design the different stages of the marketing plan in collaboration with the different departments of our digital marketing agency. We offer services in various areas like SEO, social media, SEM campaigns, and web development. What are you waiting for to hire our services?
