If you’re new to the world of marketing, you might be wondering what the difference is between a marketing plan and a marketing strategy. After all, they both seem to involve figuring out ways to promote and sell products or services, so what’s the big deal?
Here’s the thing: a marketing plan is all about the details of how you’re going to execute your marketing efforts, while a marketing strategy is all about why you’re doing those things in the first place. Continue reading to see effective ways a good marketing strategy paired with the right marketing plan can help grow your business.
A marketing plan consist of the what, when, where, and how of marketing. A marketing strategy is the why.
What Is A Marketing Strategy?
Before embarking on any journey, it is important to know your final destination. The same holds true for marketing efforts – without defined goals, it is difficult to measure success. However, simply setting goals is not enough; you must also determine how you will measure them. For example, if your goal is to increase brand awareness, you might track metrics such as web traffic or social media engagement. Likewise, if your goal is to boost sales, you might track conversion rates or average order value. By taking the time to set clear goals and establish corresponding metrics, you can ensure that your marketing plan will be on track.
Remember that goal-setting and measurement is an ongoing process. You’ll need to routinely adapt and change as your business grows and develops.
What Is A Marketing Plan?
After you’ve come up with a marketing strategy, it’s time to start putting together your marketing plan. This is where you’ll get into the nitty-gritty of how you’re going to execute your strategy and achieve your desired results. Of course, there’s no one-size-fits-all approach to writing a marketing plan – it will vary depending on your business, your products or services, and your overall objectives. However, there are some essential elements that should be included in any good marketing plan. These include an overview of your business, your target market, your unique selling proposition, your budget, and your tactics. With this information, you can then begin to craft your messaging and select the channels that will be most effective in reaching your target audience.
Here are a few questions you can ask yourself to get started:
- Define your goals. What do you hope to achieve with your marketing campaign? Be specific.
- Identify your target audience. Who are you trying to reach?
- Research your competition. What are they doing that’s working (or not working)?
- Develop your message. What benefit will your product or service provide to your target audience?
- Decide on the best channels to reach your target audience. Where do they spend their time online/offline?
- Create a timeline & budget campaign. When do you want to launch it, and how much do you want to spend?
- Measure & track your results. How will you know if your campaign is successful?
Now that you understand the difference between a marketing strategy and marketing plan, it’s time to put your knowledge into action. Creating a winning digital marketing strategy takes research, effort, and expertise. Luckily for you, we have all of those things here at Brocksfield Design Company. We can help you create a customized marketing plan that will reach your target audience and increase conversions. Contact us today to get started!