WHY YOU NEED A STRATEGIC MARKETING PLAN

Like all good managers, you probably have some difficult questions that need to be answered and important ideas that would improve the performance of your company. Like most busy managers, you may not have had the time to focus on it or create a timeline. Most likely, you have not even had the opportunity to ask the question or discuss and explore it further with your team. It is very difficult not to get caught up in solving the problem of the day, or the moment and focus on the future.

A strategic marketing plan allows you to answer those difficult questions, explore those new ideas and generate even more. In addition, and more importantly, it contains tactical programs. This translates your goals and objectives into initiatives that bring results.

Here are some of the benefits of a strategic marketing plan:

Everyone Gets A Map

A strategic marketing plan establishes and articulates your goals and objectives. This way your entire team is focused and aiming at the same target. It gets everyone at the starting gate, off and running in the same direction and at top speed.

Ready, Set, Go

A strategic marketing plan recommends tactical programs that tie directly to your objectives. This allows you to create a team and budget that will bring the results you are seeking, such as revenue growth, increased brand awareness, successful product launches, improved competitive position.

Communicates Your Impact

If your organization is part of a large corporation, a strategic marketing plan allows the company to see the impact of a specific product or service line. It is powerful justification for investment dollars. Strategic marketing plans have been used:

• to better understand how marketing dollars can be spent
• as a prospectus for potential investors
• to support budget and headcount requirements
• to obtain grants

Eye on the Competition

With a strategic marketing plan, you know what competitor’s are presenting to the marketplace. It helps to preserve your competitive advantage so that it is not eroded away.

Current and Leading Edge

Strategic marketing plans jump start your business. It brings your business current and responsive to changing customer needs. It focuses resources on the new trends and technologies, so that you are perceived as leading edge.

Don’t Leave Money on the Table

A strategic marketing plan will help identify opportunities that can be created to capture additional revenues and customers. It will help you identify a new need for a customer set. A need that may have been created from a government regulation, new technology or changing customer need.

Prepare for Tomorrow

Strategic marketing plans help you prepare for the future. It takes a look at the skills you need to acquire and areas you need to strengthen to remain a company with strong performance.

© Copyright Maria-Elena LoRe 2004. All rights reserved.