A marketing plan can come in many different formats and versions. There is no such thing as the perfect marketing plan. In fact, if you’re a small/med...
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Whether you work in a big company or a small business, this ten step marketing plan template gives you what you need to know in an easy to understand document. It's 16 powerful pages packed with in...
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Digital Marketing Plan Template by Smart Insights
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INTEGRATI MARKETING CONSULTING
Strategic Marketing Marketing Plan – Prepared by: [Pick the date] The purpose of this document is to provide a marketing plan template t small medium business for their marketing planning as a free guide from Integrati Marketing Consulting.
[*Note: text in red is just a guide for each section and can be deleted and replaced with your customised copy and marketing plan details.] Executive Summary
Business current state
What is your business about What is your businesses history What market(s) do you compete in (local, regional, national, international) What is your unique selling proposition (USP) What products or services do you sell as a high level overview What are your long term goals for the business If this is an on-going marketing plan include your ‘win’s’ from the previous marketing period and lessons learnt.
By including this information you will be well on your way to creating an overview of your businesses current state.>
The Market (in which you compete)
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Political – what legislation, laws and government policies affect your business positively or negatively 33358440 Integratimarketing.com.au
Marketing Plan – >
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Economic – What is happening at a Regional, National and International level, do things like the Global Financial Crises affect your business or not? Sociological – what trends and cultural factors affect your business directly such as changes in consumer demand from Free Range eggs over Battery farmed eggs for ethical consumers. Technology – what new technologies have been developed which you can use or benefit from or may be a threat to your business, for instance Newspapers are under huge threat from Google and News Aggregators online. Or, maybe you have used Social Media as an opportunity to connect with your customer through Environmental - is your product sustainable or not, can you use your certified green credentials to support your brand(s) and product positioning and value positioning? Having answers to these questions will help your business answer questions from your customers and may well support your marketing and brand building activities.
By understanding and ranking the identified PESTE elements you will be able to hen look at which factors you will actively need to work with/manage to support your businesses strategy in your competitive market.
Segmenting the Market Behavioural segments Behavioural Create your markets segments based on your customers data which you have captured in your business and with desktop research and also any research you may have conducted yourself (surveys, online surveys etc.) [Replace the suggested bullet points with your own product and services]
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Instances: When is your product used (toothpaste) What opportunities can drive usage (bad breath) 33358440 Integratimarketing.com.au
Marketing Plan – >
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What other instances can drive usage (after dining) Can your products use be extended? (Mini-toothpaste disposables when you’re out and about)
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Usage: Are your customers; heavy, medium, light Are your customers buying due to distress/event based
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Loyalty: Do you customers by frequently Does your product sell quickly or do you have long durations between sales due to the cost of the items your selling Which customers are most valuable? Do you encourage loyalty Do you reward loyalty Does your business operate by selling high volume low cost or are you a premium product with high cost – different rewards and loyalty programmes can be used for both types –what type is your business? Do you have data you can use to contact your customers to support a loyalty programme?
Benefits derived: What are the different benefits customers receive from your product Think about different categories of soft drink, full sugar or no sugar, or light sugar with sweeteners added How many different customer types do you have for instance with toothpaste; ○ Taste Anti-Plaque ○ ○ Sensitive Cosmetic (whitening) ○ Medicinal ○ Natural (baking soda) ○
Recognised Needs What are your customer’s current needs now:
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Marketing Plan – >
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What recognised need(s) does your product and service deliver What levels of variation is present in the product/service categories in your market Does your business currently meet all the known needs of your customers
Unmet Needs What are some potential unmet needs of your existing customer now? • •
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What unrecognised need(s) does your product and service deliver What levels of variation is not present in the product/service categories in your market Does your business currently meet all the known needs of your customers Have customers suggested new products and services to you?
Customer Segments – Identified by Descriptor Variables Descriptor variables with segments which are readily identifiable and known traits about customers to help your business profile your customers and better serve their needs.
Demographics Age Income Gender Family size Education Geographic Location State Suburb Postcode Type of house (detached /Semi /Flat /Apartment /Villa etc.) From this analysis you will be able to identify your existing customer groups and create specific segments; this will require analysis externally through data gathered about your existing customers.
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Where are your customers located 33358440 Integratimarketing.com.au
Marketing Plan – >
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How many are in each state/suburb/postcode What is the best way to contact your customers, have they sighted preferences to you? (such as; email, direct mail, face to face, on the phone) Are there ‘like’ customers who you have not contacted yet (prospects) in the identified segments (other States/Suburbs etc.) Why do these segments buy from you – what is important to them? How can you target these customers with different advertising methods (Papers, Online, and Direct Mail etc.)
Segment Profiles Based on the behavioural and descriptor variables described above, we can then construct the segment profile(s) that your business should focus its marketing strategy and communication mix on. 1. Profile 1 (20-35) • • • • •
‘Wired for Lifers’ (WFL’s) – Experienced Internet Users
Technologically Savvy – Innovators Over-represented with early adopters in this profile Most likely to have internet access at work Highest use of ‘netivities’; e-mail, shopping, finance Rising Earnings Power
2. Profile 2 (36-60)
‘The Professional’s (TP’s) – Use the Internet to add value to existing life-
style Relatively less time on-line but above average spending. Function first – not into chatting or games Arrang Arr anging ing leis leisure ure tim time; e; hot hotel el boo booking kings, s, tic tickets kets,, tra travel, vel, gro grocer ceries ies gifts Prefer quick effective on-line sessions (‘Need for Speed’) At height of earnings power • • •
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Goals and Objectives All organisations regardless of business size and age should have long-term goals couple with objectives which will support the medium and long-term goals. Marketing Goals and Objectives support the overall business plan but are focused on marketing measures such as; customer loyalty, customer value, market differentiation etc. It is important that when you create your businesses 7
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Marketing Plan – > Goals and Objectives that they are realistic and obtainable with your company’s given resources and capabilities. A good method to make sure Goals and Objectives are realistic is to use the principles of SMART; Specific, Measurable, Agreed, Realistic, Time based.
Goals The key goals for our business are:
Long-term To reach annual turnover of $000 in 5 years To be recognised as a market leader To have a loyalty rate (%) higher than the competition To have satisfied employees and associates • • • •
Medium-term Drive new business from new State markets by (%) in 2 years Develop an online portal for Target the Government sector for medium term contracts • • •
Objectives The key objectives for our business in this marketing plan for are to: • • • • • • •
Add of new customers by end of the financial year Increase turnover by (%) and retain existing customers Build brand recognition Drive new uses to the website Increase subscriptions to online services Build the customer mailing list Send 8 direct mail campaigns with response rates higher than (%) compared to industry standard
SMART To ensure our company’s Goals and Objectives are SMART we have applied the following principles to understand our Goals and Objectives are realistic. S - specific, noteworthy M - Measurable, significant, motivational A - Agreed upon, attainable, achievable, acceptable R - Realistic, relevant, reasonable, results-oriented T - Time-based or temporal, tangible
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Marketing Plan – >
Strategy Marketing strategy is not a single paragraph or mission statement, it is not choosing to try and do everything – Marketing Strategy is choosing to do only a select set of marketing activities and to do them better bet ter than tha n your competit compe tition ion in Integrati marketing Consulting’s opinion. To help you to focus your select marketing strategy we have created this section on strategy which all businesses need to create to plan for strategic marketing success. We have focused on the core four marketing ‘P’s’ which are; Product, Price, Place and Promotion.
Product
What new products do you have in development
5. What is is your your product product road road map compa compared red to your your competi competitors tors
Current Product Mix Your businesses existing current products and services currently offered in your market.
Product Feature
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Benefits
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Marketing Plan – >
Future Product Mix Your businesses existing potential new products and services currently offered/not offered in your market.
Product Feature
Benefits
Product Road Map – Product Development Here you can create a Road Map of your existing products and services and plan product entry and exits. You can also include competitor product launches and note if you will add/match or exceed their existing product entry. Year 1
Marketing Plan – > Your pricing strategy is clearly important for you and your customers. Price helps to define what type of business you are in the market, are you super-premium or are you a budget competitor, all of these elements reflect your businesses pricing strategy and your chosen target markets and segments. In this section you should have your price list and define your margins and opportunities for growth with specific objectives are they from your suppliers by increasing volumes and reducing your costs as well as either taking this margin as additional profit or using in the market to reduce your prices and increase competition. You should have top-line information here such as; • • • •
•
Price list (RRP) / Margins / Costs / GST Your set discount rates for your products/services Up-coming promotions and specials which you may be running Promotions should have a sub-section where you have created break-even points and additional sales will show you the uplift in gross revenue Return on Investment should also be considered here as the sales data will be fundamental to you RoI calculations and measures of marketing success
At the end of the day your pricing will be dependent a great deal by what the ‘market’ is prepared to pay. This does not mean that you will not sell anything if you are too expensive or too much if you are too cheap. The point is you will need to review your competition and stay informed of the markets price points, medians, means so you can ensure that not only are you competitive your business is profitable.
Sample Market Price Analysis
Brand
Telstra
Optus iiNet
Plans
Monthly Pricing
Down/Uplo ad speed
Maximum Downloa d
300MB Residenti al Plan
$54.95
Max/128
3 0 0 MB
1 5 .9 c
Lite
$64.95
Max/128
5 5 0 MB
N/A*
Bliink 128
$49.95
128/64
5 0 0 MB
N/A*
*note pricing data is for internet plans now defunct f rom 2004.
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Excess (per MB)
Marketing Plan – >
Place This is simple where you sell your product and in marketing can sometimes be referred to as ‘channel’ or ‘distribution’. You can sell your product via; wholesale, retail outlets, re-sellers, telemarketing, face to face sales, online via a website, through direct marketing catalogues or a combination of these, it all comes down to what the strategy you have chosen to sell your products and services. Distribution is also broken into two categories ‘Direct’ and ‘In-Direct” in that with direct your own team sells the products/services directly but with In-Direct you are relying on re-sellers and partners to sell your services and products. Here you should describe your chosen ‘place’ or distribution points for your products and services.
Direct Distribution Channels 1. Reta Retail il Chai Chains ns 2. Priva Private te Ret Retail ail stor stores es
In-Direct Distribution partners 1. Whol Wholes esale ale part partner ner
Promotion One of the key out-puts of creating a marketing plan is gathering known customer information like the market, customer segments, competitor activity, distribution and price so that when you create your promotional plans you can then set promotional objectives which you should be able to achieve. This is important as the combination of great marketing planning should result in creating excellent marketing promotions that enable key messages to ‘cutthrough’ to your target market, segments and profiles. Also, promotions are not just about sales, clearly sales are important but you should have objectives which will not only help you sell with this promotion but will enable customer loyalty so you can stay font of mind with your customer and 12
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Marketing Plan – > sell even more without the customer requiring a promotion to by. In effect you want to build brand preference and brand loyalty. Here you should define your strategy: if additional customers from the overall promotional marketing plan for .
Promotional/Campaign Communications Plan To ensure that you can manage the upcoming activity with a programme of activity you should include in the Promotions section of the marketing plan a promotional or campaign communications plan with key dates/targets/objectives/costs as a high level view.
Cost /Budget
Objective/Tar gets
Quarter 1
Quarter 2
Quarter 3
Quarter 4
1
4
7
1 0
2
3
Promo 1 Promo 2 Promo 3 Promo 3 Promo 4 Promo 5
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Marketing Plan – >
Implementation plan The next phase is to ‘operationalise’ your marketing activity and promotional plan and these are a collection or essentially strategic and tactical marketing activities. However you want to classify the or write these up they will need to be project managed and you can do this with a high level approach for each. We would suggest you use a separate document for this such as the Integrati marketing Consulting Tactical Marketing Plan which you can find here, http://integrati.com.au/free-resources/tactical-marketing-plan/ or you can create your own. Essentially you will need to have the following areas covered.
Tactical Marketing Plan Objectives
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Target Market Demographics
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Target Segments
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The message How the promotion works
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The processes
The project plan and timing
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Budget
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Outcomes
Budget How much budget does your business have for marketing and what will be the key measures of success. How will you measure your success. You can use this table as a guide to help you analyse your budget and overall planed activity. What is the size and source of budget allocation for this plan and how was it determined?
Next Steps After completion of the marketing plan you need to assign tasks, deliverables and whom, will be responsible for the activities contained in the new plan. 1. 2. 3. 4.
Assign roles Assign roles and and respon responsib sibilit ilities ies Assign Ass ign tasks tasks and and deli delivera verable bles s Measu Measure re perfo perform rman ance ce Implemen ementt
Lessons learnt Here you can document from the last Marketing and Business Plan the following: • • • • •
What target you hit/missed What objectives you met What went well in the marketing plan What did not go so well What you have learnt and how to improve your businesses marketing efforts
If you have gotten this far then you have in effect completed you marketing plan. This plan is highly modular and of course very generic it has not been designed for any particular business or sector, it is purely a guide.
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Marketing Plan – > If you would like help with your marketing and your marketing planning feel free to contact us at Integrati Marketing Consulting.
Integrati Marketing Consulting Phone: 03 9005 8194 (Skype Us: integrati.marketing) Website: integrati.com.au Twitter: @IntegratiDirect We hope you find this plan of use any suggestions and comments are welcome by email at [email protected] thank you.
