6 Simple Steps for Building Your 2023 Marketing Plan
The year is almost over and it’s time to start thinking about 2023. Building your marketing plan can seem like an overwhelming process, especially if you’ve never done it before or if your company is newer. Sometimes in the early days, marketing responsibilities are managed by multiple people, which can make things seem even harder. Here are 6 simple steps to get you on your way to building your marketing plan for the new year.
Start with a clear goal for the coming year
Before you can map out a plan, you need to know where you’re going. Maybe you are coming out with a new product and your goal is to build a customer base for it. Maybe you’ve had to pivot your offering to adapt to a world that is now back in person. Or maybe your investors want to see a specific percentage growth in overall business. Whatever the goal is, the first step is having a clear understanding of it.
Identify your target market and Ideal Customer Profile
Now that your goal has been identified, you need to determine who you want to target with your products or services. It’s possible you already know this information, but if it’s not documented, do that now. However, if you haven’t thought this through yet, you’ll want to identify your target market and ideal customer profile (ICP). For your target market you’ll want to understand the firmographics (industry, annual revenue, geography, size, ownership, etc.). For your ICP, you’ll want to understand demographics and behavior (job title, pain points, how they are measured in their job, values, etc.). If you already have customers, the best thing to do is document everything you know about your customers and then find the threads of commonality across firmographics and demographics. Since you've had success here, you'll want to continue finding look alike accounts to target.
Ensure messaging is clear and resonates
Once you’ve outlined your growth goal and you know who you want to target as new customers, it's time to focus on messaging. How will you position your offering to your target in a way that resonates with them? And remember, it also needs to differentiate you from your competitors. Messaging is never static. It needs to be reviewed regularly and measured against the feedback you’re receiving from your sales team and your prospects. Ideally, your messaging should communicate how your product or service helps your target customer overcome whatever issue they are facing. Consider developing a framework that progresses from pain point (or challenge) to possible solution and then the value or benefit of your offering specifically.
Develop a content plan
Messaging can’t just live in a framework. It needs practical application through interesting, informative content that will engage your target audience. For this part of your marketing plan, map out the content areas you want to cover and then the formats or medium you want to use to reach your targets. Some examples of types of content you can create include videos, eBooks, infographics, podcasts, customer testimonials, blog posts, press releases, etc. Some of the places you will want to make this content available include social media, new wires, and your website. PRO TIP: When you decide on a topic, consider repurposing the same content in multiple formats. This will increase the number of assets you have to share and people like to consume information in different formats. That’s a win/win!
Develop a demand generation plan
The next important step in this plan is mapping out the places where you will find your target audience. There are lots of options out there, but some common ones include paid search (like Google and Bing), advertising (like Facebook or Instagram), in-person conferences, webinar sponsorships, social media, partnership programs, and search engine optimization. If you are just starting out, think about what will give you the greatest reach and don’t spread yourself too thin. If you already know that certain channels have been very successful, do more of that, but also experiment. You may be surprised by what works. And remember, depending on the length of your sales cycle, you will need to be patient to determine if a demand generation channel is actually producing the high quality leads you want.
Build your budget
The final step in building your marketing plan is budgeting. To do this successfully you have to “back into” your revenue goal. Here are some helpful questions to ask:
How many customers do you need to hit your revenue target? For this you will need to understand your average contract value (ACV).
For every lead that engages with you, what percentage become customers? This will tell you how many overall leads you need in order to hit your revenue goal.
For every channel that you participate in, how many leads can you expect to get? In this way, you can start amassing the number of overall leads you need.
How much does each of these channels cost? This is where you start to hone in on your budget number.
Once you’ve answered these questions, you will probably have to do some finessing to make everything even out, but that’s OK. Be patient and, best of all, celebrate the fact that you now have a well-documented plan for meeting your 2023 growth goals. And to get you well on your way to building your own 2023 Marketing Plan, here is a helpful marketing plan template to guide you.