5 things every marketing strategy plan needs

Creating a marketing strategy plan can be challenging for many small businesses due to various reasons.

In the 20 years I have been working in marketing with various sizes of businesses within many industries, I found the businesses always had the same reasons they had not “got around” to writing a strategy.

1. **Lack of Resources:** Small businesses often operate with limited resources, including time, budget, and personnel. This constraint may lead to a focus on day-to-day operations rather than dedicating time to marketing & strategic planning. Without adequate resources allocated specifically for marketing planning, it’s challenging to create a comprehensive and effective strategy.

2. **Limited Understanding of Marketing:** Small business owners might have exceptional expertise in their products or services but might lack the marketing knowledge required to develop a robust plan. Understanding market trends, consumer behavior, and effective marketing tactics often requires specialized skills or experience that might not be readily available within the business.

3. **Short-Term Focus:** Small businesses sometimes prioritize short-term gains over long-term planning. As a result, they might opt for immediate, tactical marketing efforts like sporadic promotions or ads rather than investing time in strategic planning that aligns with their long-term business goals. This approach can lead to inconsistent messaging, inefficient resource allocation, and missed opportunities for sustainable growth.

To overcome these challenges, small businesses can consider seeking external assistance from marketing professionals, investing in ongoing marketing coaching, dedicating time to attend free marketing strategy webinars, and recognizing the importance of a strategic, long-term approach to marketing.

A comprehensive marketing strategy should encompass several key elements to effectively reach its goals. Here are five crucial components that I teach my Reset Coaching Academy students.

1. **Marketing Audience Identification:** Understanding your audience is fundamental. There are numerous marketing templates where you can learn to define your ideal customers based on demographics, behaviors, interests, and needs. Using this information to tailor your marketing strategy will help it to resonate with this specific group increases the likelihood of engagement and conversions.

2. **Marketing Objectives and Goals:** Whether it’s increasing brand awareness, driving sales, expanding market share, or enhancing customer retention, setting clear, achievable targets helps direct your marketing efforts effectively.

3. **OmniChannel Approach:** 

An Omnichannel definition is when your marketing strategy seamlessly integrates various channels and touchpoints to provide customers with a unified and consistent experience across online and offline platforms.

 Providing a marketing journey where customers can interact with a brand through multiple channels—such as social media, websites, brick-and-mortar stores, mobile apps—while maintaining a consistent message. 

Research shows that when a small business embraces a diverse range of marketing channels and tactics both online and offline, it not only maximizes your reach and engagement but also builds trust.

4. **Consistent Branding and Messaging:** Ensure your brand identity remains consistent across all channels. Your messaging, tone, values, and visual elements should align with your brand persona, creating a cohesive and recognizable image that resonates with your audience.

5. **Marketing Cost & Analysis:** Implement analytics tools to measure the performance of your marketing initiatives. Regularly analyze data to evaluate what’s working and what’s not. Use the insights you uncover to refine your marketing strategies, optimize campaigns, and adapt to changing market trends and consumer behaviors. Things to look out for maybe Advertising costs from Instagram, YouTube advertising costs or looking for Influencer marketing that didn’t bring you leads.

Remember, flexibility and adaptability are essential. A successful marketing strategy  plan evolves and adapts based on feedback, market shifts, and emerging opportunities.

Significant problems a small business might encounter by not having or following a marketing plan can vary, here are my top three:

1. **Inconsistent Branding and Messaging:** Without a marketing strategy & plan, businesses might convey inconsistent messages across various channels. This inconsistency can confuse potential customers and dilute brand identity. A lack of coherent branding might lead to a loss of trust and credibility among the audience, impacting customer retention and acquisition.

2. **Wasted Resources:** Operating without a clear marketing plan often results in haphazard spending. Businesses might invest in marketing tactics or channels that don’t align with their target audience or overall business goals. This misuse of resources—whether financial, time, or manpower—can be detrimental, leading to inefficient spending without generating desired returns on investment.

3. **Missed Opportunities and Poor Adaptability:** Without a plan, businesses may miss out on potential opportunities. A structured marketing plan allows for proactive identification of market trends, competitor movements, and emerging consumer behaviors. Without this foresight, businesses might struggle to adapt to changes in the market or consumer preferences, leading to missed opportunities for growth or innovation.

Ultimately, a marketing plan serves as a roadmap, guiding businesses toward their objectives. It helps in resource allocation, aligning strategies with goals, and enables better decision-making. When a small business operates without a marketing plan or fails to adhere to it, they risk inefficiency, inconsistency, and missed chances to grow and succeed in their market.