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Give Me 5. Tips for Building a Marketing Plan

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5 Steps to Create a Marketing Plan

If you want to have a successful business, you’re going to need a plan – a marketing plan. As you go to create your marketing plan, remember that it will likely need to grow and change along with your business objectives. We go through these five steps for creating a winning marketing plan that will put your business on the road to success.

Staples' Anabela Perozek covers:

  • Defining your business objective.
  • Identifying your target customers.
  • Determining your marketing budget.
  • Selecting your tactics and vehicles.
  • Monitoring performance.

Video Transcription

One of the best ways to set up your business for success is to develop a solid marketing plan. Let's talk about the 5 steps to create a successful marketing plan. First step is to define the business objective you're trying to achieve. If you are a new business, you may be more focused on customer acquisition. If you're an established business, customer retention, or selling more to each existing customer may be more important.

The second step is to identify your target customer. Try to identify any geographic, demographic, or behavioral characteristics that will make your target customers easy to identify and reach. Determine your marketing budget for the year. Many companies allocate a percentage of sales to marketing. Talk to other businesses in your industry to identify what amount is appropriate. You need to figure out your marketing mix.

There are many options to choose from; radio, e-mail, and direct mail, to name a few. Keep your target customer and budget in mind when making your selections. The final step is to actively monitor performance throughout the year. Your metric should align with the marketing objective you chose in Step One. And remember; make changes to your marketing plan as you learn what works for you.

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