Why should we have a marketing plan?

One of our advisors has suggested that we need a marketing plan. We've never had one before, why should we bother? A good marketing plan will provide your organisation with direction in order to achieve its objectives. For example, the objectives may be to grow your business, move into new markets or even sell your business in a few years' time. A good marketing plan will provide strategies and tactics for achieving these objectives. The whole marketing planning process will: · Provide direction and focus for your business · Increase sales · Increase customers/clients · Provide you with information on your competitors · Provide you with information about the market you are in · Highlight your strengths and weaknesses · Highlight any opportunities and threats facing your company · Provide you with a tailored programme of action We have worked on many marketing plans and benefits for companies with plans include: · Motivated staff - they see their roles more clearly and understand why marketing is important to the business · Increased customer service levels - as a result, sales increase · New market opportunities - future proofing against declining or squeezed markets · Increased and improved communication with customers/clients - leading to better client retention and less pressure from competitors There is a lot of research published to show that companies with plans do better than companies without plans.

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