A strong marketing management process is key to a successful marketing strategy. While every business is different and will require its own specific set of steps, there are five basic steps that all businesses should follow in order to create and implement an effective marketing plan.
1. Define your goals and objectives.
The first step in any good marketing plan is to clearly define your goals and objectives. What are you hoping to achieve with your marketing efforts? What do you want your customers to do or feel as a result of seeing your ads or interacting with your brand? Once you have a clear understanding of what you want to accomplish, you can start developing strategies to make that happen.
Example: If one of your objectives is to increase web traffic, you might develop a strategy to improve your website’s search engine ranking. If your goal is to increase brand awareness, you might create a plan to increase the frequency and visibility of your advertising.
2. Research your competition.
To differentiate yourself from the competition, you need to know what they’re doing and how they’re doing it. Make sure to research not only your direct competitors but also any companies that are targeting your same customer base. This will help you develop strategies that are unique and relevant to your target audience.
Example: If you’re a small business competing against larger companies, you might focus on developing a strong online presence through SEO and social media marketing. If you’re a restaurant, you might focus on developing creative new menu items that your competitors don’t offer.
3. Create a marketing mix.
Once you have a good understanding of your goals and the competition, it’s time to create a marketing mix that will help you achieve them. This includes developing tactics for each of the traditional marketing channels such as advertising, PR, digital marketing, and more. Be sure to tailor your mix to fit your specific business and audience, and test different strategies to see what works best.
Example: Selecting the right social media platforms for your business is essential for a successful digital marketing strategy. If you’re targeting a younger audience, you might want to focus on platforms like Snapchat or Instagram. If you’re targeting a more mature audience, you might want to focus on Facebook or LinkedIn.
4. Implement and track results.
Once your marketing plan is in place, it’s important to track the results and make adjustments as needed. This will help you fine-tune your strategies and continue to improve your marketing ROI.
Example: Setup tracking codes on your website to track how much web traffic is generated from your SEO efforts. Use A/B testing to determine which of your advertising campaigns are most effective.
If your goals or target audience changes, you might need to adjust your marketing mix accordingly. If one of your tactics isn’t performing well, you might need to replace it with something that is more effective. By regularly evaluating and adjusting your marketing plan, you can ensure that your efforts are always heading
5. Evaluate and revise.
As with any other business process, it’s important to evaluate your marketing management process regularly and make changes as needed. This will ensure that your process continues to be effective and helps you achieve your desired results.
Example: Evaluate your marketing goals and objectives at least once a year to make sure they are still relevant and achievable. Evaluate your marketing mix to make sure it is still effective and relevant. Revise your plan as needed based on the results of your evaluations.
A good marketing management process is essential for any business looking to create and implement an effective marketing plan. By following these five steps, you can create a process that will help you achieve your desired results.
