The importance of strategic marketing planning is that it helps the organization to identify its goals and create a plan to achieve them. We all know how tough it is now that so many businesses are competing for the same products and services. Your goals must also be SMART-ly translated into marketing initiatives. It’s best to do this on a marketing calendar. In this case, we’re referring to the traditional meaning of SMART: Without a SMART marketing strategy, you’ll be directionless. And like with many other things in life, the key is to make this large task manageable by dividing it into smaller pieces. But the great thing with digital marketing is that each digital marketing platform has its own tools that will help you figure out customer demand. Marketing planning defines the role and responsibilities of marketing executives in such a way as to achieve the goals of the firm. For example, if you’re targeting seniors, then boisterous Twitter, Instagram and Snapchat accounts likely won’t work very well. It helps you strategize. “No magic formula exists to prepare for the future. Various sub-divisions and sections under the department give their proposals based on which the overall company marketing plans are developed and designed. A couple examples are: SMART is a useful acronym to know and it has taken on many different but similar meanings over the years. There are many different marketing calendar templates that you can find for free via Google search. In short, your marketing strategy will highlight the path you’re taking to achieve your specific objectives and goals. It gives an intelligent direction of marketing operations. Marketing planning is done by the marketing department. Planning precedes activity in any purposeful endeavour. Marketing planning is a formal and systematic approach towards planning of all marketing activities-product positioning, price setting, distribution channels etc. If you think that don’t have the time or patience, then hiring a digital marketing agency is always an option. The importance of a marketing strategy is highlighted by the timeliness of its plans. It helps the customers in getting full satisfaction. If the marketing planner desires to achieve a target market at some future date and if he needs some time to decide what to do and how to do it, he must make the necessary marketing decisions before taking action. Our company specializes in social media marketing and content marketing. Then you can continue to improve upon the key aspects of your digital marketing strategy. You must accept that it will require consistent and constant attention. The most common challenge that business owners face when creating a marketing plan is “where do I start?” In fact, this is the most common obstacle for just about any goal in life really. Strategy is not something that can be taken out of one’s pocket and pushed into the market all of a sudden. Planning is basically a decision-making process. 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. The success depends to a large extent upon human behaviour and response. 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. 10. Marketing planning can be related to the organisation as a whole or to strategic business units (SBU). Marketing is important because without it, your business simply will not go anywhere because it won’t be seen. 9. In fact, having a marketing strategy is so useful that you can think of it as having a road map (or a cheat sheet). 6. They keep up with newest methods to increase or maintain their target audience. For example, you could run a promotion off of Valentine’s Day or National Donut Day. Use the SMART approach with each goal! Business firms naturally undertake a good deal of planning. Its future should not be left to chance. 1. online and we will help you reach success today and beyond! 6. If not, it’s not too late. Today the consumer is a complicated, emotional and confused individual. 10. Clearly define your customer value proposition (or in other words, why a consumer would benefit from purchasing your product or service). GA is good for getting raw numbers, but not raw emotions (i.e. Being responsive to questions and messages. Whilst a business plan helps define the direction for your company, a marketing plan will help your business understand how to get there and sets out how you are going to put your marketing strategy … Knowledge is power, and after you finish reading this post, your business will have a leg up over the competition. 3. Strategic marketing plans pinpoint the target audience, establish clear brand messaging, outline the marketing mix and provide tactical plans for execution. Marketing vs. Before publishing your articles on this site, please read the following pages: 1. Benefits of making your brand more authentic online: It goes without saying that the online marketplace is extremely competitive. Having a marketing plan is important because it helps you identify, execute, and control the marketing activities that will produce a successful year.