Marketing planning in the company - tools and benefits

Did you know that marketers who follow a plan have 538% more more likely to succeed than those who go to the element? This is according to data provided by the Content Marketing Institute. Marketing planning gives tangible benefits. This is why as many as 89 per cent of marketers who are responsible for strategic marketing planning B2B, uses a clearly defined plan. Are you among them? 

What will you learn from the article?

Have you ever wondered what exactly a strategic marketing planning? Or are you interested in which specific models marketing planning can help your company succeed? If so, you have come to the right place.

In today's dynamic business world, effective marketing planning is the key to achieving competitive advantage. Companies that implement well-thought-out marketing strategies can expect a range of benefits - from increased brand recognition to increased sales.

In this article we take a step-by-step look at the process of marketing planning, we will discuss the most important tools used in this field and show what concrete benefits the implementation of an effective marketing plan can bring to a company. Without further ado, let's delve into the world of marketing planning!

Contents:

What is Strategic Marketing Planning? 

In previous articles, we have already thoroughly discussed individual elements of the plan, such as: vision, campaign or marketing communication channels. What will really shift the operation of the company to a different path will be the combination of all these factors into a whole, which should be a coherent strategy. Only then will you see if the pieces of this puzzle fit together and create the effect you want. 

When you plan your company's marketing, do you go with the flow? Or do you write out the steps and always act according to a plan? Find out why strategic marketing planning can save your business. To grow your business, you need to have marketing goals. Then you need the means to achieve them. In a nutshell, these two stages consist of strategic marketing planning. 

McDonald and Wilson, authors of one of the planning methods, write that: “A strategic marketing plan is a clear juxtaposition of major market trends with goals in key market segments and the values that distinguish one company from its competitors. The plan should focus on goals and priority strategies. It must also include their financial consequences. " 

What are the marketing planning models?

Some marketers cling to one planning model. Meanwhile, models are just tools to help you take the right steps and succeed. A few of the most popular ones are worth mentioning. Perhaps one of them will inspire you in your strategic marketing planning: 

• SOSTAC model,
• ASP model,
• McDonald's four-phase model, 
• APIC model. 

The SOSTAC model consists of six steps. The starting point is the analysis of the situation: where is the company at this point? What does its environment look like in terms of competition and trends? Then ask yourself what effect you want to achieve and where you are going. In the next step, you plan strategies and tactics that are to bring you closer to this goal and put them into practice. The last step is to check the effects. 

ASP is another popular model marketing planning. Here the steps are only three: Analysis, Strategies and finally Programmes, i.e.: sales targets, branding, PR campaigns and everything that is needed to put the right strategies into practice. The McDonald model consists of four phases: goal setting, situation review (marketing audit, analysis), strategy formulation and finally resource allocation and monitoring. In the APIC model marketing planning consists of analysis, proper planning, implementation and control. As you can see, most of the steps are duplicated between the models. It is impossible to say that one is better than the others. Rather, it all depends on the experience of matching them to a particular situation. 

What does a company gain by implementing marketing planning?

It is difficult to list all the benefits of marketing planning. Above all, you know what effect you can expect. You are also able to check whether the strategies you have chosen are actually having an effect. Marketing planning in a few steps allows you to break down large ideas into smaller stages. This will make it easier for you to manage. At this point, you may ask whether this can be reconciled with the fashionable concept of agile marketing. 

In short, it is about changing assumptions at any time during the ongoing control of the implementation of assumptions. In such a model, it is still worth using strategic marketing planning models. The only difference is that these cycles will be shorter. You plan goals, set measures to achieve them and control the effect. If something goes wrong - you modify your assumptions. Strategic marketing planning is great both when you want to set goals for the coming years and when you want to test the solution for several weeks or months. Here, too, individual steps will work, which will allow you to more clearly set goals and set ways to achieve them. 

Marketing planning step by step 

We have already discussed several methods for implementing the strategy marketing planning. Can they be reduced to a common denominator? In simple terms, whichever method you use, you need to put your finger on a few key steps. The first is to analyse the current situation. You can do this through opinion polls, a profit-and-loss check, a summary of the effects of past campaigns. Do not abstract from the external situation. Take into account changing trends and the actions of competitors. The next point is to plan actions that could improve the situation. Start with broader strategies, using e.g. a SWOT analysis or a Porter's five forces. Then break these broad plans down into steps you can implement on a daily basis: in social-media channels, employee relations, pricing policy.  

After implementing these measures, carry out an analysis of what worked. You may find that certain assumptions need to be changed or that you need to reach for completely different measures. With this foundation in place, you can start the next cycle and strategically marketing planning with the new data you already have. As you can see, even a strategy that didn't work out isn't really a failure. You have learned which measures will not get you to your goal, and this is capital that will allow you to implement more effective solutions next time. Of course, it would be best to 'get it right' the first time and create a solution that meets the needs of your business. To make it easier for yourself, contact us to discuss your first marketing strategy.

How to create an effective marketing plan?

Effective marketing planning starts with a precise definition of the business objectives to be achieved through marketing activities. This is followed by an in-depth market analysis, covering both the macroeconomic and microeconomic environment, which allows opportunities and threats to be identified. The next step planning of marketing activities is to identify the target group and its needs and expectations so that communication and offers can be tailored. It is also important to choose the right distribution and promotion channels to effectively reach customers.

Strategic marketing planning structure

A clear structure is the foundation of any effective marketing planning.The document should start with a summary for the management, then move on to a detailed analysis of the marketing situation, identifying both opportunities and threats. In this context, marketing planning means not only planning a campaign, but also developing concrete solutions in response to identified problems. Once the marketing objectives are defined, a comprehensive strategy is developed, including product, pricing and distribution decisions. The action plan, which summarises the previous steps, must be coordinated with a realistic budget. The forecasting and control part is also important - marketing planning must involve measuring effects and the possibility of adjustment with changing conditions.

Who should be responsible for planning the company's marketing activities?

Responsibility for planning of marketing activities should rest with a team of specialists from different areas who work together to create a coherent strategy. A key role is played by the marketing department, which has knowledge of the market, customers and competitors, and can develop effective promotional campaigns. It is also important to involve the sales department, which provides customer feedback and helps to adapt the offer. For smaller companies, the responsibility for strategic marketing planning may rest with the owner or manager, who coordinates the activities of the various departments.