Why your Brands need a marketing plan

by | Aug 6, 2019 | Branding with impact

 

In this guest post, Alex Morrison talks about why brands need a marketing plan?

The need for a Marketing Plan

Marketing plans are a key component of any company’s overall business strategy. They allow teams to identify key objectives while also enabling them to capture opportunities that can take the business to the next level. Every company, no matter what the industry, needs a marketing plan, and your brands are no exception.

In this article, we’re going to delve deeper into what a marketing plan is and who should have one. We’ll also highlight some of the key reasons why your brands need to have a marketing plan in place if they want to catapult their company to success.

Marketing Plans for Businesses Big and Small

Without customers or clients, businesses can’t survive. The only way to get people through the door is to know how to reach them.

In comes marketing. Marketing is an important aspect of any business, whether it’s big or small.

With this in mind, it’s essential that your brand creates a marketing plan in order to target the right clients. This marketing plan should contain:

  • Your company’s target audience
  • The products or services that you offer
  • Your company values
  • Any short and long-term goals your company has
  • Your pricing strategy
  • Competition strategy
  • Unique Selling Proposition

Your marketing plan should also include a SWOT analysis that clearly identifies your strengths and weaknesses as well as any opportunities and threats to your business.

Benefits of a Marketing Plan for Your Brands

For your brands, having a marketing plan will encourage your team members to be more proactive as they will have a clear understanding of the business’ vision and goals.

Here are some other reasons why your brands need a marketing plan:

  • Increased Control of Your Brand
  • Marketing planning gets all of your employees on the same page, enhancing the structure and productivity within your business at the same time.

With a marketing plan, you can set milestones and targets which will help you gain control of:

  • Your budget and resources
  • Your teams
  • The overall performance of your marketing efforts

Despite the above, a marketing plan is only effective if you keep it up to date. It should act as a living guide for your business to flourish.

Brand Fortification

During the development of your marketing plan, you will gather a strong understanding of the market while also identifying the vision and mission of your company. By doing so, you will be able to identify and address core needs in the market, therefore fortifying your company’s branding.

Risk Mitigation

Effective planning allows your brand to mitigate risks. This is especially true for your brands who are developing their company to have a very unique image within the industry. A marketing plan helps you identify the various risks to your brand, providing you with the knowledge to capture opportunities along the way.

Progress Tracking

The reason your marketing plan needs to grow with your brand is that it will allow you to identify areas for improvement on a yearly basis. With the help of surveys as well as online metrics and KPIs, you can determine your performance and tweak your goals for the coming business year.

Work With a Team of Professionals to Create Your Marketing Plan

The key to creating an effective marketing plan is to work with a company that understands the specifics behind this new art form. They also need to have first-hand experience working with tour brands in order to identify opportunities while also mitigating potential risks.

At Jam & Co, we are a team of strategists and branding experts who can help you create a winning marketing plan specific to your  brand. To find out more about our services and how we can help you, contact us today.

Author’s Bio: Alex Morrison has worked with a range of businesses giving him an in depth understanding of many different industries including home improvement, managed IT services and health care. As the owner of Integral Media, he is now utilising his knowledge and experience with his rapidly increasing client portfolio to help them achieve their business goals.