Annual Marketing Plan
When running a business, developing a marketing plan should be one of your top priorities. Without a marketing plan, your company may end up investing a significant amount of time and money on a series of failed advertising efforts. Marketing plays a huge role in shaping a consumer’s perspective toward a brand. This includes the products and services offered, along with its overall identity.
Annual Marketing Plan Template
But creating an annual marketing plan for your company isn’t as easy as it seems. It involves a thorough process of market research and general analysis in order to meet the needs of your target consumers. As a marketer, it is your responsibility to ensure that the company sees a return on investment by the end of a specified period.
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Famous Companies with Successful Marketing Stories
Marketing is a competitive sport, where the competitors are also the spectators. You can learn from the mistakes and successes of other brands by observing how they perform in the marketplace, and then turning them into campaigns of your own.
With the easy access of technology and other forms of digital marketing, companies have learned to move boundaries with their campaigns by using the Internet and social media as platforms for brand promotion. Thanks to these advanced means of communication, global reach is no longer exclusive for deep-pocketed brands. Leaving a lasting impression to the local and global market is one of the primary marketing goals for any aspiring business.
So if you’re looking for inspiration on how to design an effective marketing plan, check out these inspiring marketing stories of the following companies:
1. CVS
In early 2018, retailer brand CVS announced they’re putting a ban on the use of Photoshop or any image enhancement software in the marketing of its beauty products. The stand against image alterations to retouch or enhance the beauty of models has been a common issue in the world of marketing for many years. You may also see strategic marketing plan examples.
From blemish-free faces to body size reduction, CVS vowed to stamp or label other brands who continue to refine the image of their models using photo enhancing applications. Such strategy was implemented to promote positive self-esteem and healthy beauty standards among men and women in society. You may also like restaurant marketing plan examples.
Along with the company’s ban on tobacco products, people have since praised CVS for taking a stand on social issues affecting our world.
This triumphant effort exhibited by CVS depicts how a powerful platform that people can rally behind can make a huge difference among consumers.
2. Gerber
After sorting through 140,000 applications to find the new Gerber spokesbaby, the company surprised everyone by selecting the brand’s very first baby with Down Syndrome after 90 years in the business. The announcement received a standing ovation from netizens all over social media after the brand made this bold yet clever move. According to Gerber’s CEO Bill Partyka, it was Lucas’s (the baby) winning smile and joyful expression that landed him the role.
Society has long fought for equality in the entertainment and modeling industry for individuals who weren’t your typical “Barbie Doll” image. In this example, Gerber successfully lived up to its long-lasting mantra of inclusion that says, “Every baby is a Gerber baby,” which garnered marketing success with its audience. You may also see marketing strategy plan examples.
3. Airbnb
Traveling can be very costly, especially with the high price tags on hotel rooms and established motels. Fortunately, the folks over at Airbnb thought it would be a great idea if they developed a marketplace for people to list and book accommodations, such as hotels, condos, houses, inns, and apartments from around the world. Thanks to social media marketing, Airbnb has grown to 1,500,000+ listings in 34,000+ cities worldwide since it was first founded in 2008.
In January 2015, Airbnb launched a social media campaign with the hashtag #OneLessStranger which was a social experiment that encouraged the community to perform random acts of hospitality to complete strangers around their neighborhood. The company also urged people to take a photo or video with the person and share it on social media to inspire others. You may also like how to write a marketing plan for a business.
After only 3 weeks since the campaign launched, there were over 3,000,000 people who were engaged in the project, created their own content, or were mentioning it on different social networks.
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4. Nike
It’s almost impossible to even talk about marketing success without giving a special shout out to the popular sports apparel brand Nike. Many years after the company first launched its Just Do It campaign, Nike continues to take the marketing world by storm with its innovative ideas and engaging content. You may also see marketing strategy business plan examples.
But who would’ve thought that the brand could go as far as developing a co-creation platform for customers to design their own unique footwear?
Nike’s NIKEiD is a special online service that allows consumers to personalize their own merchandise to align with their cultural preferences and style. This marketing strategy made a huge impact in the consumer market thanks to its user-friendly interface and customer-oriented purpose. By putting the power of design into the creative hands of the customer, Nike is able to cater to the individual needs and demands of its audience.
5. McDonald’s
No matter where you are in the world, McDonald’s continues to be one of the most popular fast-food restaurants in the market. But little do people know just how far the company is willing to go to reach out to its local and global audience. You may also like event marketing plan examples.
While you’re busy munching on your box of chicken nuggets, somewhere in the Middle East, a child just took a bite out of his McArabia. If you haven’t heard about it before, the McArabia is a flatbread sandwich that’s made exclusive to McDonald’s outlets in the Middle East. You may also check out business marketing plan examples.
France even has its own McDonald’s version of the French macaroons. And over in the Philippines, people eat their chicken with a plate of McSpaghetti.
These global marketing campaigns have helped the restaurant brand gain worldwide attention from its target consumers.
6. H&M
For clothing brands like H&M, it’s all about designing the perfect online experience for shoppers.
These days, people would rather do their shopping with an instant click of a button than to go through the hassle of running to the nearest store. This can be very convenient for shoppers who live relatively far from any shopping centers and malls. For this reason, H&M is doing everything in its power to appeal to its consumer market by creating easy-to-navigate mobile-friendly shopping experience. You may also see product marketing plan examples.
A marketing tactic like this can easily appeal to consumers from different parts of the world. Instead of worrying about the city traffic and hour-long commutes, companies can bring their offered products and services to buyers in the comfort of their homes through the World Wide Web. You may also like affiliate marketing plan examples.
7. Coca-Cola
Who could forget Coca-Cola’s promotional anthem Wavin’ Flag for the 2010 FIFA World Cup? Or how about the #ShareACoke campaign that allowed consumers to customize their own Coke bottle with their names printed on it?
Coca-Cola has always taken the lead with various marketing campaigns in the food and beverage industry. Not only does Coca-Cola center on creating memorable advertising campaigns for its consumers, but the brand also focuses on small community programs and charity works for the minority groups of society.
From building 650 clean water installations in the rural village of Beni Suef, Egypt, to sponsoring Ramadan meals for children across the Middle East. The brand continues to promote the one emotion that can never get lost in translation: happiness. You may also check out implementation plan examples.
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Tips for Developing an Effective Marketing Plan
A successful marketing plan can do wonders for a business. From addressing business and marketing challenges to delivering solutions through a holistic approach, a good marketing plan can help a team aligned and focused on the end goal.
But sometimes, the time and effort invested in the process of developing a marketing plan is either abandoned or wasted due to several factors that marketers fail to acknowledge. To guide you and your teams in your quest to build a strong marketing plan, here are some tips to keep in mind:
1. Know your niche.
Every brand has a niche. This constitutes to the specific market you’re targeting with your products or services offered. For instance, if your business specializes in 30-minute tasty meals, then your consumers are likely to belong to those who are part of the 9-to-5 job category. Once you have identified your audience, it becomes your responsibility to understand their struggles and provide possible solutions for them.
2. Identify your challenges.
Though there are many business opportunities to invest on, there are also many challenges for your team to overcome. It’s important to identify and acknowledge these issues along the way, or they could potentially hinder you from reaching your better goals.
3. Define your SMART goals.
It’s always important to implement SMART goals that can keep you and your team on track. This can help you conduct a SWOT analysis for your annual marketing plan to see whether the company’s marketing spend is delivering the expected return on investment.
4. Create time frames.
Success doesn’t occur overnight. Since marketing objectives are often based on long-term goals, start setting short- and long-term milestones as well. This will help keep you motivated despite the obstacles and shortcomings that stand in your way.
5. Study market competitors.
Regardless of how original your product concept can be, there will always be competition in the market. These are the entities that can easily steal your customers from right under your nose. This is why it’s important to gain an in-depth understanding of your competitor’s marketing efforts. You may also see integrated marketing plan examples.
Knowing who they are, what advantages they have over you, and how they may respond to your offerings will help you figure out various strategies to keep your business afloat.
6. Make your brand position known.
Oftentimes, it’s all about the brand image. The best way to gain a competitive advantage is by shaping a consumer’s mind-set toward your brand. For instance, when Kylie Jenner first launched her makeup line, Kylie Cosmetics, it generated so much backlash from critics due to its insane price range and disappointing product quality—yet, fans of the brand (and the woman behind it) can tell you otherwise. You may also see personal marketing plan examples.
Despite the negative criticism surrounding the brand, it still made history for becoming one of the fastest-selling product launches in history. The success of the brand can pay its gratitude toward the image that Kylie Jenner has built for herself in the beauty and fashion industry. Fortunately, since its launch in 2016, the brand has released several products with satisfying results. You may also like apartment marketing plan examples.
Ultimately, creating a well-defined plan that addresses the budget, resources, professional goals, and action items for a company’s marketing strategies can help turn your brand’s vision into a reality. In order to meet your goals and objectives effectively, it’s important to constantly examine your efforts, optimize your strategies, and update your marketing plan to attain successful results.
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