Yes I know that marketing plans seem to be a panacea in the eyes of those who’ve already achieved their annual growth goals. Well maybe that should tell us something. They are!
The best laid plans…well you know. So it is that in todays fast paced world of having to meet quarterly earnings, we often sacrifice the strategic vision for tactical gain. In reality that is sometimes the best model based on the line organization the marketing team supports. Vertical business units historically and almost by definition require more immediate results from their marketing efforts. Minimally that helps meet quarterly revenue targets and fuel further R&D investments in emerging products, or strategic hires in the case of most services organizations. However the longer term strategic view cannot go undeveloped.
If corporations have enough business development resources to support both a tactical and strategic marketing plan, then they are in the best of both places. However in many instances those precious resources required to market, are also billing direct labor on other contracts, leaving them little time for long term planning. It is therefore prudent to establish a “strategic arm” to the organization whose purpose is to create a long-term roadmap. As shown in the figure, and moving clockwise, each aspect of the marketing plan is connected to those actions that drive your growth.
If you haven’t taken the time to develop your plan yet, don’t wait any longer. They are crucial to your long term success.
For more information, contact Jim McGuirk at http://www.mcguirkconsulting.com
Filed under: B&P Budget, Market Segments, Strategic Hires, Strategic Marketing, Strategic Partners, branding, business development, marketing Management, marketing plan
[...] key here is to have a long term marketing plan that stays on a steady course even when the market is down. Those that stay on course have a much [...]