If you run a business, how do you build an effective marketing strategy? It sounds so easy, doesn’t it?
If you’re not sure of how to plan your marketing, the worst approach is to adopt a scatter-gun approach. The following are statements that are heard too often in companies who have just realised that they should be doing more marketing: “It worked for so-and-so”, “Look, this is new so we must try it”, or conversely “We’ve always done this so let’s keep on doing it”!
Let’s bring planning, analysis and objectivity into decision-making around marketing.
You shouldn’t even start on your marketing plan until the business plan for the company is in place. Marketing is not a panacea for the business. You must know who you are trying to sell to, in what markets and have researched the competition. Pricing and product design needs to be just right as otherwise your marketing will not work.
So assuming that you have a business plan in place, budgeted targets for the year to come, and know who you are selling to and what you are selling, how do you put together your marketing strategy?
Discussion and research are the next steps. In B2B marketing, the number of people who really matter is small. So find them. Find out what they read, which events they attend and how they like to be contacted. If you’ve not marketed your business before, put together a plan that includes a good spread of different activities so that you can measure the results and fine tune your offerings.
How to Measure Marketing Activities
Here are some simple measurement tools:
Your website: Install Google Analytics and become familiar with the reports. You can look at everything from the number of visitors to the geographical locations of visitors, to their journey through your site. Look to improve your site to remove or edit poor performing pages. Do more of the things that work.
LinkedIn Posts: Get into the habit of logging shares or Likes for your content and comparing the performance of different types of posts.
Social: Use Twitter’s professional reporting for stats on your engagement. You can log into your YouTube account to see simple figures around views in the Creator Studio dashboard. There are a large number of social media monitoring packages out there such as Hootsuite. Check out this useful article.
Events: How many people attended? How many people did your team engage with? How many followups / orders resulted from the activity?
These are just a few of the measurements that will help you analyse your marketing activities without needing to turn yourself into a premier data scientist (with a huge team and a budget to match). This sort of analysis (effectively Marketing KPIs) should form part of your assessment of your success every month, quarter and end of year.
What’s the Best Format for a Marketing Plan?
If you don’t have a specialist marketing software, start with a scaled down approach where everything is plotted out in Excel. Create a front worksheet for general company marketing and then create a worksheet for each business line that you need to promote. List all the forms of marketing that you will use for each business line. Typical headings would be: Website and Digital, Email Marketing, List Purchasing, Events etc. Under each heading list each activity with the date of the event and the budget. Add another column for the Actual Budget.
If your plan requires you to market a lot of products or business lines simultaneously, it helps to add all activities into a digital calendar so that you can see week-by-week what you have to do. Google Calendars enables you to colour code each product or business line so that you can keep track of them.
Having done all of this, if you need a summary document to explain it all, you can create one in Word. Some boards need an executive summary.
If you would like the sample marketing plan in Excel shown above, ask me to send you one here.