Why you must have a marketing plan

do you have a marketing planDo you have a Marketing Plan?

You know you need to do something to market your business. If you don’t your pipeline will quickly empty and the sales will dry up.

Now I can hear some people saying “we get all our business through referral, so we don’t need to do any marketing”. Two comments on this:

  1. Generating referrals is a type of marketing, as you manage the client accounts to keep the referrals flowing.
  2. Just think how much more you could grow the business if you did some other marketing!

There is one big reason why you must have a marketing plan:

If you don’t you won’t do it

Shall we start the “Oh yes I will” “Oh no you won’t” bit – or just skip it?

The reasons why a marketing plan makes you do your marketing

It’s a list

We’re British (or living in Britain and so adopting many local habits) so we love a list. Having a list is a competitive thing. We want to tick everything off the list, simply to say we’ve done it.  Nobody likes a partially completed list.

You’ve invested time

There’s little more galling than wasting time. As a business owner, you have very little of it spare. You don’t want to spend time developing a marketing plan and then not do what you planned to do.

You’ve invested Energy

Taking time out of working IN the business to work ON the business is doing something you may not do that often. It is different and so you’ve invested mental energy in developing a marketing plan that will engage your target audience and develop more leads. Let’s not waste that energy.

You’ve invested Money

That time has cost you money, either in opportunity costs or direct costs, such as overtime. You may have brought in a consultant (why was it not us?) to help you structure and challenge the plan.

Someone to report to

A way to really make sure you deliver on your marketing plan is to get someone to monitor it for you. Whether that is a fellow director, a non-exec director (if you have any) or a third-party, you don’t want to go to them and say you haven’t done what you agreed to do.

So the only question to answer now is: When are you going to write your marketing plan?

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