In order to break it down, you’ll need to plan out a do-able number of digital marketing activities that will fully cover the Customer Journey. Marketing planning involves the preparation of policies, programmes, budgets etc., in advance for carrying out the various activities and functions of marketing to attain the marketing goals. customer sentiments). But before you can create a timely marketing strategy, you have to fully commit to digital marketing. Duplication will waste your time and money. Plagiarism Prevention 4. “No magic formula exists to prepare for the future. His buying is based on subjectivity and not often backed by objectivity. The importance of a marketing strategy is highlighted by the timeliness of its plans. 3. Copyright 10. Marketing planning promotes successful marketing operations. But before you can create a timely marketing strategy, you have to fully commit to digital marketing. attract the right employees to your business, distinguish your unique selling point (USP) better, Improve the effectiveness of your brand’s marketing message to your customers and your business partners, That’s why, once again, it’s a good idea to delegate such tasks to a company that specializes in, Our company specializes in social media marketing and content marketing. You should write one if you Content Filtrations 6. Importance of a Marketing Strategy for Businesses, Your target demographics will also dictate what, do an assessment of your followers on social media, “eavesdrop” on social media to build up an accurate Buyer’s Persona. Keep Everything Timely. Most important, we must always offer consumers-products of quality and value, for this is the one need that will not change.”. Marketing planning can be related to the organisation as a whole or to strategic business units (SBU). We may now summaries the importance of marketing planning in the following points: 1. For example, you could run a promotion off of Valentine’s Day or National Donut Day. But it’s one thing to market your business without any direction, and it’s another thing to market your business with a clear plan. Only by accepting the importance of a marketing strategy will you be able to come up with a plan that will help your business stand out in the crowd. This presents an opportunity for the wise business owner. Market analysis, market projection, consumer behaviour analysis and marketing-guided conclusions are based on data and measurements drawn from internal and external environments. Disclaimer 9. In other words, being social on social media! Putting yourself out there with your own likes and tweets. The Purpose of Your Marketing Plan. Content Guidelines 2. The scope and scale of digital marketing is quite large. In fact, having a marketing strategy is so useful that you can think of it as having a road map (or a cheat sheet). The requirements are excellent insight to understand changing consumer needs, clear planning to focus our efforts on meeting those needs, and flexibility, because change is the only constant. Knowledge is power, and after you finish reading this post, your business will have a leg up over the competition. The success depends to a large extent upon human behaviour and response. Find out how much you should spend on your marketing for more growth. We had explained that marketing places the consumer at both the beginning and the end of the business process. And why do you want to market to those demographics? 6. Being responsive to questions and messages. You must accept that it will require consistent and constant attention. Thus, marketing planning has both an optimistic and a pessimistic component. A firm cannot afford to travel in a haphazard manner, it has to travel with the support of a route map. Staying on the same page also means keeping everything integrated. Various sub-divisions and sections under the department give their proposals based on which the overall company marketing plans are developed and designed. But before we dive into the specifics of an effective marketing strategy for your business, let’s discuss the basics of why marketing is even important to begin with. LYFE Marketing, Copyright All Rights Reserved © 2020, losing market share to existing and start up competitors, missing out on opportunities for better targeting and optimization. And how you stand out from the rest will depend heavily on how effective your marketing strategy is. Marketing planning is done by the marketing department. If not, it’s not too late. Strategic planning is a stream of decisions and actions which lead to effective strategies and which in turn help the firm to achieve its objectives. A greater preparedness to accommodate change can be stimulated. Your goals must also be SMART-ly translated into marketing initiatives. Marketing has been described as the railway engine which pulls all the other departmental carriages along. It forces management to reflect upon the future in a systematic way. 9. It helps the customers in getting full satisfaction. Marketing Strategy = The marketing logic by which the business unit hopes to achieve its marketing objectives. If you don’t know who your online audience is, you won’t have an optimal digital marketing plan. Every company must look ahead and determine where it wants to go and how to get there.