Yes, You Need a Strategic Marketing Plan. Here’s How to Get Started.

I’m just going to come out and say it. In the midst of all your current deadlines and priorities, it can be really difficult to focus on planning for the year ahead. You’re still trying to figure out how to survive THIS year, right? Well, I’m here to give you a little leg up on 2024 with an outline to jump start your planning efforts. But first, let’s explore some of the most important reasons why you need a Strategic Marketing Plan in the first place.

Saying No – With Confidence!
A Strategic Marketing Plan helps you define your priorities and decide how to accomplish your goals. If you often find yourself feeling indecisive about things like whether to sponsor an event, which project opportunities to pursue, or which networking events to attend – spend a few hours planning for these things now. It will save you a lot of time and brainpower in a few months when an RFQ crosses your desk and you can confidently say “no thank you” – this doesn’t align with my strategic goals this year.

Remembering to Say Yes
It goes both ways, of course – a good Strategic Marketing Plan will also help you say “yes” when it makes sense for your business. But sometimes more importantly, it will help you remember to say “yes.” For example, you might identify several events, conferences, and sponsorships that will help you achieve your goals. But if you don’t plan ahead for these expenditures of time and money, you are likely to find yourself too booked up to attend that conference when registration time rolls around.

Keeping an Eye on the Bottom Line

Part of any Strategic Marketing Plan is a budget that helps support your goals and action items. When you plan ahead for marketing expenditures, it helps you spend at a healthy level relative to your revenue. You should review your Marketing Budget as often as you review your other financials – ideally on a monthly basis.

Forcing Yourself to See the Big Picture
It’s easy to get buried in deadlines and other urgent matters, but it’s important to pull your head out of the sand every once in awhile and take stock of things. Have new competitors emerged? Have old competitors changed leadership or ownership? What trends are emerging in the market? How much economic runway is left in your major market sectors? A strategic plan forces you to think about these things, which helps you position yourself for the future.