A marketing plan increases your chances of survival over the long haul. A solid, well-planned guide keeps you from making serious mistakes that can quickly sink your business.
A marketing plan provides structure. Creating a solid business plan provides structure and a context for everyday activities, while helping to fit daily activities into the context of a larger, more strategic plan of how you are going to grow your business.
A marketing plan keeps you on track. Staying on track amidst the day-to-day distractions and assessing opportunities to see if they fit with your long-term goals is another way that a comprehensive marketing plan can help you stay on track.
A marketing plan helps you tally the cost of creating before you start building. By knowing your financial costs and risks ahead of time, you can more effectively plot your growth strategy and manage your budget.
A marketing plan helps you think outside the box. Emulating someone else’s business model simply because you don’t want to devote the time and resources to developing your own marketing plan is fraught with a number of dangers. For example, if you copy someone else’s business model, you will likely wind up copying their mistakes as well. You can also miss opportunities that are perfect for your business because of your distinctive experience, knowledge, background, location, or target demographics.
A marketing plan helps you create a vision for the future. In the end, your business will be driven by your vision -- and the process of developing that vision is critical to your business success.
A marketing plan helps you evaluate your success. It is crucial to set up measurable objectives in advance so you are able to compare your results against those objectives to learn where you succeeded and where you fell short. If you don’t know where you are going, how will you know when you get there?
A marketing plan demonstrates you are committed to your business. Being committed to growing your business starts with laying a good foundation for that future growth, with clearly delineated steps for those in the organization to follow so they can contribute to your success.© The Rainmaker Institute, All Rights Reserved