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<\/a><\/p>\nWhat Does a Good Marketing Plan Look Like?<\/b><\/h2>\n
A good marketing plan is a clear, detailed strategy with well-defined goals and target metrics. Additionally, and perhaps most importantly, a successful marketing plan should be flexible and adaptable to the ever-changing environment – internal and external to the business.\u00a0<\/span><\/p>\n Predicting the future is impossible, but you don\u2019t need a crystal ball to know that change is inevitable. Consumer trends and technology improvements aside, economic factors can shift quickly.\u00a0<\/span><\/p>\n Today, there is always the possibility that a new competitor could enter your area or that disruptive technology can make an entire service line obsolete. Your business offerings, target audience, and staff might change over time. Can your annual marketing plan adapt to accommodate that change?<\/span><\/p>\n You might not <\/span>need <\/span><\/i>to make a big shift or react to industry-shaking news, but being flexible with your marketing plan can open your business to opportunities to improve your results.<\/span><\/p>\n Think back to 2007. Social media was in its infancy, mobile optimization wasn\u2019t on business owners\u2019 radar, and consumers hadn\u2019t yet come to expect relevant, personalized marketing content wherever they wanted it. Not every trend is worth jumping on, but a flexible marketing plan allows you to experiment and decide what\u2019s worth investigating.<\/span><\/p>\n Or at least, you should always look for it. A <\/span>flexible annual marketing plan<\/b> allows you to change if you\u2019re not on track to hit your goals. For example, if you check in on your marketing performance against objectives and see that a particular strategy delivers great results, think through your options. Could you increase spending in that area to boost results even more?<\/span><\/p>\n Now that we\u2019ve established that annual marketing plans should be flexible, what does that look like? Here\u2019s marketing flexibility in action:<\/span><\/p>\n Just because things change doesn\u2019t mean you shouldn\u2019t take steps to map out your marketing for the year ahead. But remember that your annual marketing plan isn\u2019t finished until the year ends. Keep things flexible instead of treating them like a map with one destination and possible route. Being equipped to handle evolving demands in the marketplace and among consumers requires a willingness to make adjustments when necessary.<\/span><\/p>\n With flexibility in mind, here are a few key components of an annual marketing plan that your business should consider.<\/span><\/p>\n To optimize your marketing performance for the coming year, it’s important to understand the prior year’s performance to understand what worked\/didn’t work. With data driving strategic decision-making, you are setting your marketing campaigns up to maximize ROI for your business.\u00a0<\/span><\/p>\n When planning marketing initiatives for the coming year, conducting a competitor analysis helps identify market opportunities and gaps.<\/span><\/p>\n Creating a <\/span>marketing persona profile<\/span><\/a> is a great way to understand your customer’s wants and needs for the coming year. With a better understanding of your customers, you can design effective, targeted marketing campaigns.\u00a0<\/span><\/p>\n Setting a budget, with room for flexibility as needed, helps to set realistic expectations and goals for the coming year.<\/span><\/p>\n Establishing Key Performance Indicators (KPIs) supports well-defined goals with measurable metrics for marketing success.\u00a0<\/span><\/p>\n Ready to start your marketing plan for 2024? TEGNA is here to help with linear, streaming, digital, and measurement solutions available to support your business\u2019s marketing and advertising goals. <\/span>Get in touch today<\/span><\/a>.<\/span><\/p>\n3 Reasons Why a Flexible Plan is a Good Plan<\/b><\/h2>\n
1. The Only Thing Constant is Change Itself<\/b><\/h3>\n
2. New Opportunities Are Everywhere<\/b><\/h3>\n
3. There\u2019s Always Room for Improvement<\/b><\/h3>\n
Criteria for a Flexible Annual Marketing Plan<\/b><\/h2>\n
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What to Include in Your Business\u2019s Annual Marketing Plan<\/b><\/h2>\n
1. Gain Insight into Past Performance\u00a0<\/b><\/h3>\n
2. Conduct a Competitor Analysis<\/b><\/h3>\n
3. Create Customer Persona Profiles\u00a0<\/b><\/h3>\n
4. Establish a Budget\u00a0<\/b><\/h3>\n
5. Determine KPIs<\/b><\/h3>\n
Start Designing Your Annual Marketing Plan with TEGNA<\/b><\/h2>\n