Accessible Marketing

Video: The 5 steps of putting together a marketing plan

by Judith Hutchinson

The second in a series, my latest vlog looks at the 5 steps of putting together a marketing plan. Regardless of whether or not you have a marketing plan or not there may well be some nuggets in here that will get you thinking about your own business.

 

Video Transcript – 5 Steps to putting together a marketing plan for your Business

So today I’m talking you through the 5 steps to putting together a marketing plan for your business.

  1. First step is to look at your marketing environment.

So in marketing spiel this is the external and internal environments.

The external environment is stuff you can’t control like a new government coming into power, changes in the law, weather and so on. This list will depend on the business you operate. I normally use a tool called a PEST or PESTEL analysis for this. PEST stands for political economic, social and technological and you think about what could affect your business using these headings.

The internal environment is stuff you can control and you tend to look at a SWOT analysis for this (Strengths, weaknesses, opportunities and threats). I always suggest that you ask your customers what they think about what you’re doing aswell as your staff too. You could do this with a simple online survey.

In addition, you should also keep a check on what the competition are up to and how they are positioning themselves.

2. The second step it to look at your Target Markets – Really think about who your customers are – who are you targeting and who else could you be targeting. I once worked with a customer who were selling their product into one market sector and we quickly realised that the product could benefit other sectors too so were able to put together a plan to take the product to other markets and increase sales. In addition think about how best to communicate with them. If you are selling care homes perhaps twitter isn’t the best place for you to be. Similarly if you are selling to teenagers perhaps snapchat is where you need to be.

3. Marketing objectives once you’ve looked at the marketing environment and your target markets you can then look at what your marketing objectives are. These should be aligned with your business goals and it may be that your earlier PEST and SWOT analysis have made you see a gap in the market for a product or service you could offer. Or perhaps a target market that you hadn’t considered promoting to. These can be included in the marketing objectives.

4. The fourth step in putting together your marketing plan is to look at the marketing mix.

I mentioned the 4 Ps in my last vlog. The 4Ps stand for Product, Pricing, Place and Promotion. Most businesses focus on Promotion without getting their other ducks in a row. And some businesses are unsure of how to best promote their business because they haven’t got to know their target market in step 2.

5. The fifth step is to Measure and Refine your marketing plan.

When I’m working with clients we turn the marketing plan into a timetable and I always say that a marketing plan is a working document. It needs to be monitored so you can be sure of a return and refining as the market place changes.

So to recap the five key steps to putting together a marketing plan are – research, target markets, marketing objectives, the marketing mix and to measure and refine.

 

 

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