Can you believe another year is coming to a close? Get ready to ring in 2023!
Before you begin the festivities, do you have your marketing plan ready for the new year? If not, you can’t put together a budget for the projects, hiring and outsourcing you’ll need to do.
Don’t worry! We have the details of what you need to create an effective marketing plan.
Include the following parts in your marketing plan for 2023
- Business summary: Include your company name, headquarters and mission statement.
- Business initiatives: Outline your marketing projects, each project’s goals and how success will be measured.
- Customer analysis: Include the industry you sell to and your buyer persona. Focus on traits such as age, location, title, goals, personal challenges, pains and triggering events.
- Competitor analysis: Consider your competition, what they do well and where there are gaps you can fill. Focus on positioning, market share, offerings and pricing.
- SWOT analysis: Use your research from the areas above and strategies below to analyze your company’s strengths, weaknesses, opportunities and threats.
- Market strategy: Use the information from the areas above to detail how your business should approach the market. Include what your company will offer your buyer persona that your competitors do not. Focus on product, price, place, promotion, people, process and physical evidence.
- Budget: Describe the money allocated to the marketing team for the initiatives and goals mentioned above. Itemize what the budget will be spent on. Examples include outsourcing to a marketing agency, marketing software, paid promotions and events you’ll host or attend.
- Marketing channels: List the places you’ll publish content to educate your buyers, create leads and increase brand awareness. Map out which social networks to launch a business page on, what you’ll use each network for and how you’ll measure success. Show how these channels will grow the business.
- Financial projections: Use your anticipated ROI to determine how much money to invest in each marketing tactic. Then, develop financial projections for the year.
Follow these steps to create your marketing plan
- Analyze your situation: Use your SWOT analysis and competitor analysis to determine how you provide customers value in ways your competitors don’t.
- Clarify your target audience: Use your buyer persona to determine your goals.
- Develop SMART goals: Create a road map for how you want your marketing campaigns to improve your ROI. Make your goals specific, measurable, attainable, relevant and time-bound.
- Determine your tactics: Consider which channels and action steps to focus on to reach your goals. Then, develop methods to achieve your goals while staying within your budget.
- Develop your budget: Determine the money needed to implement the steps above to reach your goals. Include the timeline to complete each method and the assets you must purchase, such as ad space. Then, begin developing a marketing campaign to reach your goals mentioned above.
Need help creating your marketing plan?
BARQAR’s team of digital marketing experts can work with you to develop a marketing strategy to help grow your business. Find out more today!