Seven things you need to know before creating your first marketing plan

Surprisingly, many medium and large businesses don’t have marketing plans. They might have lists of projects they want to do, like videos, commercials, social media posts, or new websites. But it’s unclear how these projects will help achieve business goals or how to prioritize them.

In my twenty years working in marketing and advertising, I’ve learned an important truth: companies that follow marketing plans have a competitive advantage. They operate more efficiently and have a clearer vision of what they want to accomplish, how they are going to do it, and what it will cost.

If you’re engaged in more strategic marketing for your business, here are seven things you need to know about marketing plans in order to effectively implement this new initiative.

1. Effective plans only need two parts.

First, you will need to create a document that details your goals, current situation, SWOT analysis (strengths, weaknesses, opportunities and threats), competitors, target audiences, brand position, strategies, tactical ideas and measures of success. Second, you will need a 12 month calendar style spreadsheet. This schedule is organized by tactical categories that detail what will happen when and what it will cost. A plan may include more than that, but these are the building blocks that give leaders the information they need to focus their attention and resources.

2. It doesn’t have to be long.

The most useful plans are concise. You can communicate key information in six pages of bullet points and short sentences. Long stories are counterproductive. The tactical dashboard is usually made up of three to five additional legal-sized pages that detail key information.

3. The process is as important as the plan.

Although the plan itself should be short, you should be prepared to spend time developing it. Leaders and managers with roles in implementing various parts of the plan should be involved. It’s an effective way to gain team buy-in, build consensus, and get your staff working together.

My process begins with a group planning session. This is led by a facilitation team that probes to uncover all relevant information, keeps discussions on track and takes notes. Facilitators must be external to your company. This encourages unbiased thinking and provides objective marketing expertise. It usually takes two additional short sessions to complete the planning process, ending with a presentation of the final plan and a discussion on implementation.

4. Check it regularly.

Your plan should be used and reviewed on an ongoing basis. I offer monthly or quarterly team meetings to review progress and success. I keep my company’s marketing plan in view as a constant reminder to stay focused. Most entrepreneurs I know are easily distracted, myself included. Put structure in place to keep the plan relevant and hold your team accountable.

5. It is intended to be updated.

Your plan should keep you and your team focused, so you don’t have to chase after every new marketing opportunity that comes along. However, it’s not meant to be a static document. Situations change, additional information becomes available, and some opportunities are just too good to pass up.

The information and decisions your team makes during the planning process will help you filter and prioritize new information throughout the year so you can adjust the plan accordingly to take advantage of big opportunities. Also, your plan should be redone every year to allow for more thorough review and adjustments.

6. It is a culture building tool.

In addition to improving a company’s branding, advertising, public relations, and sales efforts, sharing your marketing plan with new hires helps them understand the company and their role in its initiatives. It may not be appropriate to share the entire plan with all employees (not everyone needs budget details). But share your goals, current situations, SWOT, competitors, target audiences, brand position, etc. will help employees understand the company and how it implements its mission.

7. It generates excitement and improves performance.

Over several decades, I have helped companies large and small develop their first marketing plans. Without exception, everyone from the CEO to the sales team to the marketing manager was excited and energized by the process and its deliverables.

A marketing plan has the powerful effect of improving engagement, communication, teamwork and performance. Key employees know what objectives and what results are expected because they participated in their establishment. They have a vested interest in the implementation and success of the plan, and by reviewing it quarterly, they are motivated to stay on track. Understanding a company’s priorities gives employees clarity on how they should work together to achieve their day-to-day goals, and the marketing plan gives them practical guidance on how to do so.

After a few planning sessions, you can have more clarity and confidence than ever before on how to move your business marketing forward – and maybe even new enthusiasm and cooperation from your team to get started!