How to write a good Marketing Plan – 5 invaluable Tips

How to write a good marketing plan? This question could be asked by a marketing student, by a company founder, or by a marketing executive. If you need an answer on how to write a good marketing plan, here you’ll find five. In the following, we will present 5 truly invaluable tips for how to write a good marketing plan.

First of all, what makes a good marketing plan? In other words, what makes the marketing plan good or bad? You can measure it by the decisions that follow, the business it generates and how well it’s implemented. A brilliant marketing plan that is not executed is worth much less than a mediocre marketing plan that’s carried out. The actual marketing plan’s value is in the success of the business.

Setting this assumption as the basis, we can identify 5 key elements of a good marketing plan. How to write a good marketing plan – this is the answer:

1. Market focus – How to write a good Marketing Plan

The first tip is to focus on a market. Clearly, you can’t satisfy everybody, so choose the ones you can satisfy best. “I don’t know the secret to success, but I do know that the secret to failure is trying to please everybody,” said Bill Cosby. So if you wonder how to write a good marketing plan, start by defining target markets narrowly. Good marketing plans define target markets narrowly. This requires precise segmentation and targeting. To give an example: a restaurant can choose to specialize on families with children or on businessmen. Obviously, doing both at the same time will not lead to more business. The motto is: Choose. Divide and conquer.

2. Product focus – How to write a good Marketing Plan

Focusing on a specific target market is not enough. Product focus matches market focus. Of course, only the exact right products can fulfill the needs and wants of your chosen target market. f you want families with kids in your restaurant, then serve food quickly, make the menu items relatively cheap and, of course, the food has to be safe.

3. Concrete, measurable specifics – How to write a good Marketing Plan

One important tip for how to write a good marketing plan is to rely on concrete, measurable specifics. Indeed, a good marketing plan is full of dates and details. Strategy probably drives a good plan, but tactics, programs and details make the difference. As much as possible, the plan has to tie results back to activities and come up with specific numbers to measure those results.

To return to our example, a restaurant cannot have vague goals like having the best-tasting food. It needs specifics that are related to marketing message, insertions, posts, dinners served, return visits, members of the e-mail list, reviews, and so forth.

The key is to take a plan and think ahead about how you’ll know whether it was implemented. If it is impossible to tell, then your marketing plan is likely to fail. So, will you be able to tell?

4. Responsibility and accountability – How to write a good Marketing Plan

Groups and committees get little done without specific roles. Therefore, assign every part of a marketing plan to a specific person. Measure the results of every task and be sure a person is responsible for it. Peer pressure is important: The people executing the plan have to be accountable for measurable results. In other words, failure has to hurt, and achievement has to be rewarded. A good marketing plan needs commitment, not just involvement.

5. Reviews and revisions – How to write a good Marketing Plan

The last tip for how to write a good marketing plan is about reviews and revisions. Every good marketing plan is actually a planning process, not just a plan. Things change too fast for static plans. A good marketing plan is part of a process that involves setting goals, measuring results and tracking performance. It entails regular review and revision. Don’t adhere to only one version of the plan – keep it flexible!

If the group writing and run the marketing plan isn’t meeting once a month to compare the plan with actual results and make course corrections, there is no marketing plan.