The Two Essential Elements of An Effective Marketing Plan

Marketing is not brain surgery, and it can be understood, implemented, and maintained all by you. The first step is understanding that you need a marketing plan.

Now, one benefit of a marketing plan is it forces you to think and rethink your marketing. It causes you to ask question such as, “What if?”. If you are just revising last year’s plan, you’re not going to have very much success. Putting work, actions, and creativity together is the essence of the marketing planning process.

The “Build it and they will come” is not an effective marketing plan or strategy. A successful and effective marketing plan incorporates two essential elements:

  1. Knowing the market inside and out, including what customers believe, the story they tell themselves, and what they expect
  2. Knowing the way to satisfy customers by knowing competitors, barriers to entry, costs, outside influences, budgets, knowledge, etc.

Knowing Your Business + Knowing The Market

Armed with this knowledge, you can develop the necessary marketing strategies that will allow you to attract, obtain, and keep customers.

Question: Which essential element would you say is the most difficult to do?