Short answer - Yes. It is particularly important for small and medium sized businesses to get a marketing plan in place so they can prove their worth over their larger and more well known competitors.
There can be no denying that marketing is a critical component of a business's success or failure. The problem is, without expert knowledge it is difficult for a business owner to know what will work for them and how to get the most impact out of their budget. The owner is an expert in their line of business and has knowledge of their industry and competitors, but can’t be an expert in marketing at the same time.
Business owners are blindly and sporadically creating marketing materials that looks like a fragmented collection of tools and tactics.
Scenario 1: The business owner’s marketing efforts will produce some results with drawing in a few leads, but have no idea why that happened and how to improve on their performance.
Scenario 2: They keep putting money into marketing, get no leads from it but carry on regardless hoping it will bring some leads in at some point, wasting them a lot of money and time.
Scenario 3: Nothing they try works and decide to cut all marketing budget and to drift on with cold-calling and some word of mouth.
If any of these three scenarios sound similar to you, I suggest you stop what you’re doing and start planning. The benefits of a properly defined strategy will give you the highest chance at success and here are five reasons why:
By putting the time in now and creating a marketing plan you will be able to focus your time into the highest impact opportunities for your business.
There are so many areas you can focus your marketing on in this digital age. So having a plan in place will draw the most impact out of your marketing budget.
Having a plan in place will keep you to strict timelines on when that next email should be sent out, or when your next blog post needs to be posted. This keeps your marketing machine turning and your business at the front of prospects minds.
Your marketing plan will guide all of your decisions, from who you are targeting to what you want to get out of your marketing to how you are going to make those goals happen.
And for the grand finale - a marketing plan will help you to measure your results and improve for next time, giving you a chance to see what your return on investment is.
Convinced? With marketing being such a large part of your businesses success it makes sense to get it right and keep your business growing.
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