Planning for business success

As summer draws to an end, we start to turn our focus to the winter. Before we know it we’ll be starting a new year. For any company, understanding what goals and targets you have for the approaching year ahead is one of the most important aspects in growing a business. But so many people end up not planning for growth, and as a result spend way too much money and time reacting to events and competitors. You will always be one step behind those that have prepared themselves.

It’s one of those things, you know you need to attract more customers, you know you need to build your client base, but in the back of your mind you’ll do it next week, okay maybe next month… when you’ve got some time. But while you’re putting it off, comfortable in the knowledge you’ll do it sometime later, your competitors are planning their next year’s strategy with a marketing plan.

For any business a yearly strategic marketing plan, gives the forward thinking of where you want to go in the market, what tactical and promotional strategies to include and you’ll know what kind of results you want to see. Tie that in with a budget and you won’t need to be agreeing to ad hoc salesmen selling you advertising opportunities that are not only costly, but don’t even talk to your target audience. Planning your marketing at the start of the year will also save you money, for example booking multiple newspaper advertising is cheaper than a last minute ad. When it’s not last minute, there’s some haggling time.

With a yearly marketing plan you will be able to set your goals, define your target market and create a promotional plan that will position the business to achieve an advantage over your competitors.

By looking at market data (who are your customers, what they buy and when they buy) and your competitor data (who they are, their products/services, price, etc.) you’ll be able to match the capabilities of your company to the opportunities available in the market.

Defining relevant marketing opportunities, (online, offline, social media, etc.) budgets, timescales, targets/ROI and resource, will give you a marketing plan that will keep you on track for the year. Of course there will always be surprises cropping up, but having a plan and knowing it can be flexible, will give you the competitive edge and forward thinking to grow through the year.

 

Need help writing your plan from an agency with strategic substance?

Cocktail Marketing has been built on a strong strategic ethos, which has been earned as marketers in various industries for more than 17 years. The perfect mix of marketing know-how and creative originality, we can help you get to where you want to be. Talk to us today.