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We are often asked if it is important for a business to have a marketing plan and the honest answer is YES!
How do you know if your marketing efforts are successful if there is no plan or any monitoring of the return on investment?
Time and money spent on marketing to promote the business are just as vital as any other business expenditure but there are so many ways that the resource can be spent - you need to be clear or have a very large budget!!!
Every day, your business will be approached to take advertising, write an article, sponsorship of local events etc - it is hard to say no if you do not have a plan. Make sure anything you do is done for the right reasons and for your benefit. Plan, plan, plan!
A well thought out plan can give you clarity on your marketing efforts and ensure you are spending money and resources in the right places. You will also be more proactive as opposed to reactive.
So why do you need a marketing plan:
Every business needs a clear plan on what marketing activity they are going to do to promote the business. As we said in a previous article - Are you a Marketing Magpie - marketing is moving at a very fast pace with new tools and techniques being launched every month - if you are not careful you can easily spend time and money on tools that just won't work for your business - trust me I have been there and done it! Take the time to get clarity and marketing will become an easier more successful process.
Get clear - be focused.
Remember, time is at a premium and by having a well-thought-out plan, you can ensure your time is spent wisely. By knowing what your monthly plans and activities are, you can allocate your time accordingly ensuring you are spending time where you need to, not reacting to the latest fad. Also, your plan can help you identify and allocated your resources too - this could be outsourced time or pulling employees from other tasks.
Remain focused - boost efforts
If you are clear on where you are spending your time and money you can also set clear goals to monitor the return on your investment. Whether you are placing an advert, using social media, email newsletters etc you still need to know how each activity is performing as this will drive your marketing efforts. It is much easier to cut activities that are not working and spend more money where it does work.
Don't waste time on marketing activities that do not perform for you.
Still NOT sure...
If you are still unsure how a Marketing Plan can benefit your business, why not join us on the 18th January 2018 at The Long Eaton Hub for a half-day Marketing Planning workshop to give you the tools you need to start 2018 on the right foot for your business - book your place today -
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