When was the last time you did a comprehensive analysis of your marketing & sales strategies?
Any business or organization that is spending tens of thousands of dollars or more per year on marketing, branding and website development should have at least a basic marketing plan that is updated on a regular basis. As we move into 2014, it is very important that you take a good hard look at all aspects of your business. However, this is especially true for your marketing strategy.
The major components of most comprehensive plans include:
- Mission Statement
- Corporate Objectives - defining goals such as market share, sales and revenue
- Marketing Audit - a thorough documentation of current marketing processes within a firm or organization
- SWOT Analysis - Strengths, Weaknesses, Opportunities and Threats presented for your company
- Preliminary Conclusions - Assumptions derived from the marketing audit and SWOT analysis
- Marketing objectives - Clear, measurable sales goals established for your marketing process
- Strategies - identification of online and offline marketing strategies
- Budget - establishing a budget for all marketing related efforts
- Implementation - developing an action plan for executing the strategies within the stated budget