The marketing plan summary condenses your marketing tactics into an easy and manageable format. It provides a one to two page summary of all the marketing tactics that need to be completed for the year to achieve your marketing objectives and support your marketing strategies. The marketing plan summary determines what will be done, when it will be done, who is responsible for doing it and how much it will cost.
The Marketing Plan Summary includes:
- Marketing tactic name
- Marketing tactic description
- Target market
- Execution details
- Estimated cost of tactic
- Estimated results
- Marketing tactic owner
- Timing of implementation
Marketing Tactic Name
This is simply the name of the marketing tactic eg. Public Relations Campaign.
Marketing Tactic Description
This is simply a brief description of the marketing tactic to be implemented, eg. conduct a local sampling campaign.
Execution Details
The execution details include the specific details of the marketing tactic and describe how you will implement it. For example, if you are conducting a public relations campaign your execution details may include 'write and place advertorials featuring our service offering in two key trade magazines for our industry'.
Estimating Costs
It is important you estimate the cost of implementing each tactic to ensure you do not over spend on your marketing budget. If you have conducted a similar tactic in previous years, estimate your current costs based on the previous costs, adding a percentage for inflation and price increases.
If you are a new business or it is a new tactic, you may need to ring external suppliers or agencies to provide you with quotes on the marketing tactic(s) you want to implement.
Estimating Results
It is important to estimate the results you want to achieve from each of your marketing tactics. No matter which marketing strategy your tactic will support, you should ensure the cost of implementing a tactic is at the very least covered by the additional sales generated from the tactic. You should also consider your overall marketing and sales objectives and how the combination of your tactics will go about achieving these objectives.
If you have conducted a similar tactic in the past, look at the results you achieved and use this as a benchmark to estimate future results.
Marketing Tactic Owner
It is important for small businesses that have employees assign a name to a person who will be responsible for implementing the marketing tactic.
Timing
To assist you to plan your time and resources and ensure there are no timing conflicts, it is important you schedule a time for when each tactic will be implemented.
By thinking through the important details of your marketing tactics and putting them into a simple one or two page marketing plan summary you can save time and money during the year as well as increase your success in the marketplace.
© Marketing for Business Success Pty Ltd 2008
