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Market penetration is a measure of how much a product is being used by customers compared to the total estimated market for that product. Like the CEO of Netflix said, “Sleep is our competition.”. A business plan is a written document that describes in detail how a new business is going to achieve its goals. Basically, you can use the Executive Summary as a primer for the rest of your marketing plan. For example, the marketing plan example below dedicates a whole page to tracking criteria: Use a checklist maker to not only track marketing results but also noting down tasks, important life events or tracking your daily life. For example, look at how this page is clearly divided into two sections, thanks to the use of a color block background: Blocks of color are also used to make the sections headers stand out. Customize the template to your liking–no design know-how needed. The same vague goals listed earlier become much clearer when specific numbers and timelines are applied to them: You can dive even deeper into your marketing goals if you want (generally, the more specific, the better). For example, a company operating in one state with plans to move into a different state and conquer another market may need to find a different way to market its products or services in a new location. Yeah, me too. The user persona example above uses sliding scales to identify personality traits like introversion vs. extroversion and thinking vs. feeling. You want … Take a look at how detailed this user persona template is below: Taking the time to identify specific demographic traits, habits and goals will make it easier for you to cater your marketing plan to them. Starting your marketing plan off on the right foot is important. What Is Business-To-Business Advertising? To grow your business, you need a marketing plan. This includes an explanation of the goals a company needs to achieve with its marketing efforts. But what often ends up happening is most businesses try different marketing tactics without a clear plan, and walk away with little success. A study for 2019 conducted by CoSchedule, a provider of marketing software solutions, found that marketers with a documented plan or strategy are 313% more likely to report success in their marketing campaigns. The marketing plan details the strategy that a company will use to market its products to customers. Your most dangerous competitors may not even be in the same industry as you. How Market Penetration is Used by Companies to Gain Market Share, What Market Research Tells Companies About New Products and Services, Value Proposition: Why Consumers Should Buy a Product or Use a Service. blue for “social media goals” and green for “SEO goals”), Using the same style of icons throughout your report, like flat icons, line art icons, or illustrated icons. Start creating your marketing plan with a template and then customize the design to fit your information and to incorporate your own branding. Mind maps are an effective way to show how a strategy with many moving parts ties together. For example, this mind map shows how the four main components of a marketing strategy interact together: You can also use a flow chart to map out your strategy by objectives: However you choose to visualize your strategy, your team should know exactly what they need to do. In real-time. It can also be helpful to visualize each step using different shapes, or attaching an icon to each step. Take a look at how information flows visually throughout this promotional marketing plan template thanks to strategically placed visual cues: To make your plan both more convincing, and easier to scan, you should create a hierarchy of information in your page design. An executive summary introduces readers to your company goals, marketing triumphs, future plans, and other important contextual facts. You aren’t writing a novel, so try to keep it under a three to four paragraphs. It will definitely help them clearly understand your goals and strategy as well. Another important way to visualize your marketing strategy is to create a project roadmap. That’s what the rest of your marketing plan is for! While the overall color scheme for the whole plan is cohesive, each individual page is varied: It’s important for your team to understand what your highest performing channels. Identifying what type of personality your target users tend to have an influence the messaging you use in your marketing content. A marketing plan can be adjusted at any point based on the results from the metrics. Some large corporations have marketing plans that are hundreds of pages, whereas a small one-person business might only have a handful of pages. A marketing plan is a roadmap for introducing and delivering your product or service to potential customers.It does not need to be long, and it doesn't have to cost a lot of money to complete, but it will take some research and effort. This tip is pretty self-explanatory. You can also use icons to emphasize and differentiate between channels, like in this marketing plan slide: Take a look at how charts, icons and color coding make it easy to scan this marketing agenda presentation for information about specific channels: Generally, it’s good practice to stick to one topic per page. Here’s an example of what your segmented user persona guide could look like: The important thing is for your team or client to have a clear picture of who their target user is and how they can appeal to their specific problems. Income Throne . So by the time you begin writing your marketing plan, you should have your target audience identified. For example, whether the company will advertise on the radio, social media, through online ads, or on regional TV. The plan should focus on the creation, timing, and placement of specific campaigns and include the metrics that will measure the outcomes of marketing efforts. A marketing plan is a set of orderly actions aimed at achiev-ing specific objective(s) within a given timeframe. That way, you can better segment your marketing campaigns and set separate goals, if necessary. This could be a particular shape or item (for example, using images of plants in a work plan to represent growth) or a color scheme that reflects the mood of your mission. You can download your marketing plan in high-quality PDF or interactive PDF format with Venngage. In this case, a marketing plan is drawn up and made ready before the company approaches the new market. Competitor research is also incredibly important if you are starting a blog. LEvery marketing plan has to fit the needs and situation. Now that you have the basics for designing your own marketing plan, it’s time to get started: This article is also available in Spanish: ¿Qué es un Plan de Marketing y Cómo Hacer uno? A marketing plan is an operational document that demonstrates how an organization is planning to use advertising and outreach to target a specific market. The functions and components of a marketing plan include the following: A marketing plan is based on a company’s overall marketing strategy. For example, look at how speech bubble pictograms are used in this page to show key statistics: In that same marketing plan, important content-related data is emphasized using brightly colored shapes, illustrative icons and big fonts: Color choice, icons and font styles all help bring key information forward in this content strategy plan template: One of the main goals of your marketing plan is to identify your high-level marketing goals. Without the correct metrics to assess the impact of outreach and marketing efforts, an organization will not know which campaigns to repeat and which ones to drop; maintaining ineffective initiatives will unnecessarily increase marketing costs. Inspiring and visionary? The plan outlines marketing activities on a monthly, quarterly, or annual basis while the marketing strategy outlines the overall value proposition. Start creating robust user personas using Venngage’s user persona guide. are an effective way to show how a strategy with many moving parts ties together. Answering these questions will take lots of research, but it’s essential information to get. For example, this project roadmap shows how tasks on both the marketing and web design side run parallel to each other: A simple timeline can also be used on your marketing plan: Or a mind map, if you want to include a ton of information in a more organized way: Even a simple “Next, Now, Later” chart can help visualize your strategy: Close your marketing plan with a brief explanation on how you plan to track or measure your results. Pricing & Positioning Strategy. Like the other sections of your marketing plan, you can choose how in-depth you want to go. Typically, a marketing plan includes: For example, this marketing plan template provides a high-level overview of the business and competitors before diving deep into specific goals, KPIs and tactics: Learning how to write a marketing plan forces you to think through the important steps that lead to an effective marketing strategy And a well-defined plan will help you stay focused on your high-level marketing goals. We do it so much it’s almost like second nature now! The challenge for marketing leaders is to ensure that every platform has sufficient time to show results. The executive summary tells readers about the company’s growth, and how they are about to overtake one of their competitors. A timeline of when tasks within your strategy will be completed. Here are seven marketing plan templates to get your started, along with some report design best practices you should follow when creating your plan. Marketing plans are often written when a company plans to move into a new market. Faux images of your personas, illustrations and icons are all great ways to put a face to your personas’ “names”. It allows a team to focus. Typically, your competitor research should include: Also, take as deep a dive as you can into the strategies they use across their: Research their strengths and weaknesses in all parts of their company, and you will find some great opportunities. Using the same font styles for your headers, body text, and accent text (generally, try to stick to only using 2-3 different font styles in one report), Using the same color scheme throughout your plan, and using the same colors for specific types of information (ex. Marketing plans ensure that every marketing initiative is done in sync with an overarching strategy, ensuring maximum return on investment and an efficient use of time and resources. A project roadmap visualizes the timeline of your product with individual tasks. 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