Constructing an annual marketing plan is not a simple task for a business of any size.

Unfortunately, a faulty marketing plan can result in indigestible, un-actionable strategies that are unable to produce sufficient business impact or growth. However, there are six crucial components to developing a marketing plan that could reduce the risk of incompetence:

Business Objectives – Business objectives are targets that a company wants to hit in the coming year. A plan must provide a strategy to transform business objectives into marketing goals that can promote positive results.

Marketing Priorities – Marketing must decide where and how it can make an impact. It is important to outline which efforts to prioritize and which cannot be supported.

Marketing Goals – Marketing goals define what marketing will do to support the greater business objectives. This component has four categories: impact is the effect on business goals; output is the result of actions; activity is the number of actions taken; and readiness is how prepared the team is to perform.

Marketing Strategy – Strategy tends to be overlooked in the marketing planning process. Strategy revolves around how a company is planning to reach its goals while keeping business objectives in mind. This is important in order to achieve a cohesive business atmosphere.

Key Actions – Key actions refer to the specific efforts marketers will take to execute on strategy; it must provide details on how each execution will impact the greater business objectives. Marketers must decide which actions to cease, which to expand on, and what can be added.

Dependencies and Risks – Dependencies and risks must be taken into account in every marketing planning strategy. Outlining potential risks at the beginning allows a business to better plan and adapt to changes that could occur.

Developing a strategic marketing plan can involve time that you, a business owner, may not have to waste. However, effective marketing is a key part of a business’ success. Springwood Marketing, LLC can create and optimize a comprehensive marketing plan for your business that is aligned with your specific goals. The experts at Springwood will implement a concise, yet actionable strategic plan to enhance the marketing of your business, ensuring all-around growth. Contact us today to get started!