Don’t Bank on Tactics, You Need a 12 Month Marketing Strategy
While the marketing world is changing faster than you can say "ChatGPT-4," a solid annual campaign is still an integral part of success. By designing a comprehensive yearly marketing plan, you set the stage for a revenue-driving process that attracts and retains new audiences.
Even if you have a stellar collection of top-notch marketing tactics, you still need a solid roadmap. A 12-month marketing plan keeps your team on track and saves your company time and money.
Let's take a closer look at the benefits of designing an annual marketing strategy.
The ongoing marketing process requires significant time and financial investments. Besides working out effective strategies, the marketing team needs to plan the budget, find specialists to create content, negotiate contracts with influencers, and much more.
While this may be possible without a plan, eventually, you can face unexpected expenses, outdated tactics, and even downtime.
By setting clear goals and following them to execute a marketing plan, your team can manage risks in advance instead of being surprised when things go off the rails. Following a roadmap also helps the team stay on the same page and clarifies each person’s priorities.
When creating an annual campaign, you can prepare for marketing challenges, identify available resources, and adjust your tactics to align with your needs and goals.
A one-year marketing plan isn't set in stone. Making changes throughout the year is more than just possible—it's mandatory. However, minor adjustments are much easier to make than reinventing the entire strategy mid-year due to budget issues.
Since 77% of consumers purchase items based on a brand name, not a product name, branding is essential to a successful marketing campaign. High-quality branding is almost synonymous with consistency.
You speak to consumers through your content, website appearance, ad design, and more. Understanding how different elements are perceived is easier once you look at all your marketing assets, tools, and goals together. Without a comprehensive marketing plan, you could miss important branding elements, lose consistency, and confuse customers.
A long-term marketing strategy allows you to maintain consistency in brand development efforts throughout the year. This consistency contributes to higher conversion rates and keeps existing customers loyal.
Your marketing strategy's return on investment (ROI) is key to achieving success without breaking the bank. The simple formula for calculating the ROI is:
(Sales growth – marketing expenses)/marketing expenses x 100= marketing ROI)
The most critical part of this formula is marketing expenses which an annual marketing plan helps you predict. A solid plan means you can choose which tactics to include or exclude based on the potential ROI of your campaign and optimize the strategy continuously without facing unexpected expenses. This will improve the marketing ROI and help you achieve top marketing goals.
Increased Customer Engagement
Customer engagement is the driving force behind company revenue. Engagement increases customer lifetime value and contributes to the brand's success. To engage customers, marketers implement a variety of tactics designed to capture the consumer's attention and keep it for many years.
A one-year marketing strategy allows you to create a comprehensive customer journey to drive engagement. By studying customers' needs in advance and using this data to implement effective conversion and retention tactics, you are:
- Increasing customer engagement
- Improving marketing ROI
- Making it easier to keep up with the newest trends
Today, personalization is key to excellent customer experience and high engagement. You can achieve stellar marketing results by implementing personalization costs and tactics into your long-term strategy.
Advantage Over Competitors
A comprehensive marketing plan can:
- Increase revenue
- Improve retention
- Ensure consistent branding
- Increase conversion rate
- Save time and money
- Improve marketing ROI
All the above can help your brand stay ahead of the competition. Meanwhile, creating a plan allows you to identify revenue-generating opportunities before your competitor. With the right approach, it's possible to steal market share and take a big step toward becoming an industry leader.
Building a Robust One-Year Marketing Plan A 12-month marketing strategy provides your business with a comprehensive plan to reach your target audience, engage current customers, improve ROI, streamline retention, and stay afloat during an economic recession.
The long-term view of the marketing campaign can help your team make educated decisions and achieve both long-term and short-term goals while staying within the budget. This can drive significant revenue and power business growth.
If you are ready to design an effective annual marketing plan, consider professional assistance. Mid-West Family Madison's experienced marketing team can help you create a customized plan to put your business ahead of the competition.
To learn more, please contact us today!