Reasons why you should have a marketing plan

A marketing plan is a important document that every business should have. Many business owners assume that the only reason they need a marketing plan is when they have to present a business plan to a potential lender. While this is certainly a valid reason to have a marketing plan there are plenty of other reasons that you need to have a marketing plan.A well researched and well written marketing plan can be a valuable tool in guiding your business to long term success. Here are just some of the reasons why you should have a marketing plan-

- A marketing plan serves as a set of instructions-Most likely you have taken the time to plan just about every other aspect of your business. The marketing of your business shouldn't be any different. You need to have a clear set of instructions as to how you are going to carry out your marketing objectives. Experts agree that writing down and keeping your marketing plan visible is also crucial to its success. Those business owners who think that they can figure it out as they go soon find that they are sadly mistaken, and most often widely off course when it comes to marketing their products and services.
- A marketing plan becomes a chart of your progression-When you first write down your marketing plan you are only at the beginning of the process. Your plan may be nothing more then goals (that have hopefully been set on solid market research), but over time your marketing plan becomes an indication of whether you are achieving your goals. You can use your marketing plan to see if the marketing methods that you have selected are moving you to or away from the goals that you have set for your business. It is important to keep in mind that a marketing plan is a dynamic document. You may need to change it over the course of time but it can still serve to show you the progress you are making when it comes to marketing your business, products, and services.
- A marketing plan serves as a written record-You may think that you can remember all of the marketing methods that you have used and whether or not they have been successful. However, over time and with the demands of running your business this is highly unlikely. Your marketing plan can serve as a written record as to whether or not a certain marketing method was successful. This not only saves time and money since you can check and see what has worked and what hasn't but it keeps you from making very costly, public mistakes that can damage the reputation of your business. Keeping your marketing plan up to date with the marketing methods that you have tried and what has worked is crucial to the success of your marketing plan.
- A marketing plan can bring the company together-You may be surprised to learn that your employees will be much more enthusiastic about what you are doing if you take the time to show them your marketing plan. Many business owners assume that employees don't really care about how they are marketing but studies show that the opposite is true. When your employees know that you have a plan to bring your products and services to the forefront they can enthusiastically get behind it and support you. You should never underestimate the power of employee involvement. The bottom line is that your employees will appreciate being involved. You may want to consider releasing an abridged version of your marketing plan for your employees to read.