Life is a series of $64,000 questions. Here is one for your scrutiny: “Can you sell steak to a vegan?” Try this one: “Does Your Business Really Need a Marketing Plan?”
Think about this. No matter what it is, things function better when they are planned. If a course of action is ineffective, correcting it is navigable because options are anticipated and already planned — introducing effective solutions negate potential business setbacks.
A formal marketing plan is a smart move because it can prevent wasting valuable dollars chasing the wrong customers with the wrong message. Statistics reveal that around one-half of small businesses do not have a formal marketing plan. Careful attention to marketing can be critical to your business’ success.
We in the creative field will hammer clients senseless with the fact that business plans aren’t as important because they are static. Business plans are goals and objectives: “This is what we want to do in this particular market.” It assumes that variables will not factor into the growth of the business. Well, that’s wrong because every day there’s always a dog waiting to pee on your pants leg. On the other hand, marketing plans are organic and flexible.
Thus, a business owners attitude becomes, “I will achieve my goal, as adjustments require.” Small businesses survive if they can advertise to consumers that will likely purchase a brand and create revenue. This doesn’t happen by accident. A good creative agency researches casual factors of market penetration. It should combine a strategy statement with a solution-laden marketing plan. For us, it’s an art form, not pure chance.
Every business can benefit from a formal marketing plan in the following ways: Marketing plans force intentionality; Clear brand messaging; Measurable results. Data is compiled regarding marketing results, weighing the benefits of multi-layered marketing and advertising. Marketing plans expose the “good,” the bad,” and “the ugly.” They are without personality and emotion, yet give insight, and direction regarding market penetration and growth. Informed decision making.
As a business grows, marketing plans are useful in measuring staff performance and is the common denominator when it comes to who should be promoted, as well as what strategies need implementing.The mistake business make is to go for what’s popular instead of what works. If you own or manage a business, remember, waste is avoidable. Marketing plans are conduits to success because they are preemptive.
Bernard Alexander McNealy, President
CDM Digital Advertising Agency LLC