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Writing a marketing plan | Created by Business Link on 23 November 2009 10:47 Ã#¨ Crown copyright 2007 Page 1
Write a marketing plan
Writing a marketing plan | Created by Business Link on 23 November 2009 10:47 Ã#¨ Crown copyright 2007 Page 2
Write a marketing plan
This helps to ensure that your marketing A SWOT analysis combines the external
plan, your marketing strategy and your and internal analysis to summarise your
overall business strategy all work together. Strengths, Weaknesses, Opportunities and
For example, suppose your business Threats. You need to look for opportunities
strategy is based on providing premium that play to your strengths. You also need to
quality products and service. Your marketing decide what to do about threats to your
strategy and plan will need to take this into business and how you can overcome
account, targeting customers who important weaknesses.
appreciate quality, promoting your product in
ways that help build the right image and so
on. For example, your SWOT analysis might
help you identify the most promising
customers to target. You might decide to
External and internal analysis for look at ways of using the internet to reach
customers. And you might start to
your marketing plan investigate ways of raising additional
investment to overcome your financial
Understanding the environment your weakness.
business operates in is a key part of
planning and will allow you to discern the
threats and opportunities associated with You can find out more about strategic
your area of business. A PEST analysis analysis in our guide on how to review your
helps you to identify the main opportunities business performance.
and threats in your market:
Writing a marketing plan | Created by Business Link on 23 November 2009 10:47 Ã#¨ Crown copyright 2007 Page 3
Write a marketing plan
For example, suppose your business probably break it down into different
objectives include increasing sales by 10 segments - groups of similar customers. For
per cent over the next year. Your marketing example, you can break the business
objectives might include targeting a market down into businesses operating in
promising new market segment to help the same sector and/or of a similar size. For
achieve this growth. more information, see our guide on how to
segment your customers.
For more information on how to identify the
best opportunities, see the page in this For each segment, you need to look at what
guide on external and internal analysis for customers want, what you can offer and
your marketing plan. what the competition is like. You want to
identify segments where you have a
Objectives should always be SMART: competitive advantage. At the same time,
you should assess whether you can expect
high enough returns to make the segment
• Specific - for example, you might set worthwhile.
an objective of getting ten new
customers.
• Measurable - whatever your Often, the most promising segments are
objective is, you need to be able to those where you have existing customers.
check whether you have reached it See what you can do to expand sales to
or not when you review your plan. these customers. If you are targeting new
• Achievable - you must have the customers, you need to be sure that you
resources you need to achieve the have the resources to reach them
objective. The key resources are effectively.
usually people and money.
• Realistic - targets should stretch Once you have decided what your target
you, not de-motivate you because market is, you also need to decide how you
they are unreasonable. will position yourself in it. For example, you
• Time-bound - you should set a might offer a high quality product at a
deadline for achieving the objective. premium price or a flexible local service.
For example, you might aim to get Some businesses try to build a strong brand
ten new customers within the next 12 and image to help them stand out. Whatever
months. your strategy, you need to differentiate
yourself from the competition to encourage
customers to choose your business first.
Marketing strategy for your
marketing plan See our guide on how to create your
marketing strategy.
Your marketing plan is how you put your
marketing strategy into practice. It should
therefore be a practical reflection of your Plan your marketing tactics
strategy.
Once you have decided what your
If you understand the market well, you can marketing objectives are, and your strategy
Writing a marketing plan | Created by Business Link on 23 November 2009 10:47 Ã#¨ Crown copyright 2007 Page 4
Write a marketing plan
Writing a marketing plan | Created by Business Link on 23 November 2009 10:47 Ã#¨ Crown copyright 2007 Page 5
Write a marketing plan
for pushing things along. A good schedule together. For example, if you have limited
and budget should make it easy to monitor cashflow you should avoid seeking large
progress. When things fall behind schedule, orders from customers who demand
or costs overrun, you need to be ready to do extended credit or that will involve you in
something about it and to adapt your plan heavy, up-front costs.
accordingly.
Remember to focus on your long-term
From time to time, you need to stand back strategy. Reducing customer service might
and ask whether the plan is working. What boost short-term profits, but next year you
can you learn from your mistakes? How can might not have any customers left.
you use what you know to make a better
plan for the future? Make it happen
A plan will not happen by itself. You need to
Tips for writing a marketing plan make someone responsible for monitoring
progress and chasing up overdue activities.
It is important for a marketing plan to: Reviewing progress will also help you learn
from your mistakes so that you can improve
• set clear, realistic and measurable your plans for the future.
targets - for example, increasing
sales by 10 per cent
• include deadlines for meeting targets Here's how I developed and
• provide a budget for each marketing implemented a marketing plan
activity
• specify who is responsible for each Andrew Smith
activity
Escherman - Opens in a new window
Make sure you think through each of your Andrew's top tips:
objectives logically. For example, you might
set a target for the number of new enquiries. • "Keep your prospective customer top
But if you don't provide the resources and of mind when planning any marketing
training to follow up these enquiries and turn activity."
them into sales, you will have increased • "Incorporate the online environment
costs without any benefits. into your marketing mix. These days,
it's a necessity, not an optional
extra."
Link to your strategy
• "Make the most of free research
Assess the business environment to identify resources."
the opportunities and threats that you face.
Look for where you can capitalise on your Escherman is a digital public relations (PR)
strengths or where you need to overcome a and marketing consultancy based in
weakness. Richmond, Surrey which launched in
January 2008. Owner Andrew Smith
All parts of your business must work identified a gap in the market for
measurable, integrated digital PR and
Writing a marketing plan | Created by Business Link on 23 November 2009 10:47 Ã#¨ Crown copyright 2007 Page 6
Write a marketing plan
Writing a marketing plan | Created by Business Link on 23 November 2009 10:47 Ã#¨ Crown copyright 2007 Page 7
Write a marketing plan
Writing a marketing plan | Created by Business Link on 23 November 2009 10:47 Ã#¨ Crown copyright 2007 Page 8