What are the components of a marketing plan? | FAQs

2 minutes   |  MARKETING

The marketing plan is the cornerstone of your digital marketing training and strategy. When you have a clear, extensive plan for the way forward, you’ll be able to take advantage of all current and new opportunities.

If you want to know what the key aspects are for your digital marketing plan, watch this video where Tim Withers, Marketing Manager at GetSmarter, takes you through the components.

The secrets to a great digital marketing plan are:

  • Gain understanding through analyses of your competitors, consumers and products
  • Use that understanding to better position your product and decide how to structure your sales model
  • Identify which marketing channels you’re going to use
  • Constantly measure your sales performance
  • Always have a contingency plan in place
  • End your campaign by analysing your activities and applying the lessons learnt to future strategies

Transcription

The first component of a marketing plan is to have a sound understanding of your consumers, your own product, and your competitors. That will be a competitor, consumer, and product analysis. That will give you an understanding of who you’re marketing to, who you’re competing against, and how you should price your product, or how you should structure your sales model to drive purchases.

At that point, you need to understand, what channels you’re going to use to market your product, and how you’re going to measure the performance of those channels. You need to have a contingency plan in place to prepare you for the eventuality that things may not pan out as you intend. And you need to conclude your campaign by analysing your activities and determining how you would take those learnings and apply them to future strategies to improve results.