5 steps to create a solid marketing plan for 2024

Are you planning to partner with a digital marketing agency in Melbourne? Want to create a revenue-driven digital marketing plan for 2024? Follow these steps.

by Jessica Richards - Business Development Manager
5 steps to create a solid marketing plan for 2024

5 steps to create a solid marketing plan for 2024

Regardless of the industry, every business needs a solid digital marketing plan to highlight its marketing objectives and keep everyone on the same page. This approach to digital marketing will help nurture your existing customers, attract new leads and increase the ROI.

So, as you prepare your business for 2024, make sure you have a clear marketing plan in place. When hiring a digital marketing agency in Melbourne, understand the basics of a marketing plan. Learn how to create a marketing plan for 2024.

What is a marketing plan?

A marketing plan serves as a roadmap to set and execute your marketing goals, as well as track the progress. It is a framework dictating which strategies are to be used, helping you connect each strategy to your marketing operations and business goals.

A marketing strategy involves specific steps and activities that the marketing strategy requires. It provides a clear view of all your marketing and advertising activities, including:

• Target audience and potential customers
• Marketing channels you want to target
• Marketing tactics you aim to leverage
• Technologies and tools required
• Budget and financial considerations

Why do you need a marketing plan for 2024?

The global digital marketing sphere is booming, expected to reach $786.2 billion by 2026. If you wish to take advantage of this staggering market growth in 2024, a marketing plan is especially critical. This means carefully weaving emerging trends and proven strategies like video marketing into your plan.

However, businesses often try several marketing tactics simultaneously, even spoiling their budget. And this is why they fail! So how can you avoid that? Follow these simple steps to create an effective marketing plan that will work for every business in 2024.

Step 1: Create a business summary

First and foremost, you need to create a business or executive summary. It is a brief company overview that introduces readers to your marketing objectives, achievements and plans. The aim is to get them excited to read your marketing plan.

Also, use a SWOT grid to add your strengths, weaknesses and opportunities in this section. At least, perform a SWOT analysis annually to identify key opportunities and challenges you may face in the future. This will put your business in a position to make informed decisions.

Step 2: Define your business initiatives

The next step is to identify what your brand’s primary goals in the coming year will be. These goals can be anything like new product launches or price changes. Map out all your upcoming business initiatives and determine the key metrics to track the success of each one of them. To clearly define your business initiatives:

• Write a concise description of the initiatives
• Highlight how they align with your marketing goals
• Specify the target audience and market
• Set Key Performance Indicators (KPIs)

Step 3: Determine your marketing strategies

This is where the real fun begins! Marketing strategies are a clever scheme to accomplish a specific goal. For instance, you may need email marketing services in Melbourne. This will require planning out your email marketing tactics and timelines to achieve the goal you set.

Do some brainstorming to understand the individual tactics you’ll deploy to accomplish each goal. Consider when you’d like to have your marketing goals achieved. Don’t forget to identify the seasonal marketing tactics, such as those related to holiday sales.

Step 4: Set a clear budget

Another important thing to include in your marketing plan is a clearly defined marketing budget. While your team may be leveraging many free platforms for marketing and advertising, there can be some hidden expenses you will have to account for.

So, set a clear budget to save yourself from losing sight of the financial aspect of marketing. Add everything from freelance fees and sponsorships to new marketing hires and costs for collaborations in the budget section. To create budgets, you can use business budgeting software or seek help from an experienced digital marketing agency in Melbourne.

Step 5: Track, analyse and adapt

Building the ultimate marketing plan requires continuous monitoring, analysis and adaptation. This means establishing KPIs to track the success of your marketing initiatives. These metrics may include website traffic, social media engagement, lead generation and customer feedback. You can use the data collected to optimise your marketing efforts.

Wrapping up

Creating a solid marketing plan requires careful consideration and research. By following these steps, you can plan your branding and marketing efforts in 2024. If you need help with your marketing plan, we’ve got you covered at Digital Pieces – a leading digital marketing agency in Melbourne. Start your marketing journey with us today!

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