We write a lot of marketing plans.

And we review a lot of other people's plans to ensure they're investment-ready and represent the best use of scarce cash.

So over the years we've seen everything from the back-of-the-napkin sketch, through the Mind Map of different ideas, to the densest 'researched-within-an-inch-of-it's-life' plans. And we've come to realise there are actually five key components of a good marketing plan. Get these core things right (or think of them as questions to answer) and you'll be on solid ground.

Mapping the Market

First, it's important to have a solid market mapping or segmentation of how things are at the moment. It's great to have the market sizes and key metrics, but it's more useful to map out what's been bought; by whom; why, or what benefits those buyers are seeking; when are things being bought and consumed; where; and what are the existing offerings and price points.

Might seem daunting but it's key to understand what is missing. What groups of people are being under-served? What emotional benefits might be missing (important one this, as so much attention is usually focused on minor functional differences that are not that motivating for consumers); is there a value gap or an opportunity for premium pricing? And so on. A really solid understanding of the market is always a sound base for any plan.

Providing incremental value

Now consider the second element; a good category strategy.

Once you've worked out what is missing, or where you feel the opportunities lie, you can construct an offering that grows the overall market. When we worked with vegan cheese brand Sheese a few years back we realised the category lacked any emotional values. It was all based on functional claims around calcium and vegan messaging. Realising that cheese is probably one of the hardest things for dairy avoiders to give up and surrounded by emotional cues, we went strong on the emotional aspects and drove new distribution by bringing in new consumers. The result? The parent company was the 5th fastest growing food and drink business in the UK some two years later.

The important thing here is we're likely to be asking a super-busy, and tight-margin retailer to take something off their shelves that is already selling, and replace with our products. So we'd better have a strong argument of the incremental value we'll bring.

The importance of place

Third component? What's the channel strategy?

That is, which outlets, channels or retailers are you going to target first, and then- in what order- will you grow distribution over time?

Usually the first decision here is about offline v online. Do you want to start selling direct to customers, or via a marketplace such as Amazon. Both come with costs (attracting traffic, converting traffic, retaining customers, advertising, content, etc) and both take time to do well.

Or do you go into retail? do you work your way up from independent stores, through wholesalers, into mainstream retail?
And, importantly, are there any 'strategic' channels?

Many years ago, I worked on Cow & Gate babymilks, where 95% of the volume went through the major supermarkets. So you'd figure to put 95% of the effort there, right? Well when we dug into it some more, we realised that the key first purchase of a babymilk tended to be made late at night in then local pharmacy by a very stressed father. And in that market, the accepted wisdom was that once you start baby on a specific brand, don't switch brands. So we actually put the bulk of our investment behind dominating this low volume, but strategically very important channel.

The result from No.2 to market leadership within a year.

So you've now done your market mapping and segmented the market, spotted the gaps and formed a proposition or offer that provides incremental value. And you've decided on the right channels and in what order. Now you can start working out your brand strategy.

The brand strategy

This is basically the set of images and messages that you'll need to send to your target customers. It covers a whole heap of inter-related things like backstory, brand identity, propositions, values and so on. Whole books have been written on specific areas, and it can seem quite daunting for those new to the area.

It needn't be.

You just need to be clear on three main areas: One, the timeline (i.e. the history of the brand, the current identity and the vision); where has this brand come from, what does it look like (the key assets like colour, logos, etc) and where is it headed? Two, the proposition or promise. And what are the functional and emotional benefits that underpin that? Three, the values and purpose. What are the core values, why does this brand exist and-coupled with the vision- can that translate into a purpose.

Get these things right, plus the target audience, and your brand strategy is well on the way.

We've been fortunate over the years to work with brands that enjoy really strong emotional loyalty. That's because they've answered all these things in a meaningful and distinctive way, and stuck the course. The result? Loyalty and, usually, stronger margins.

Bringing it together into an Activation plan

Finally, the fifth component of a great marketing plan; the Activation plan.

What are you going to do, and how much is it going to cost, and when?

Depending on whether you are launching a new brand, re-igniting a flagging one, or keeping on growing a successful one, there are multiple things you could do.

How much do you invest in brand awareness versus Rate of Sale? What is the optimum split between Shopper marketing and Brand marketing? If you've only got £x which are the likeliest levers to pull to drive our marketing goals?

We estimate there over 200 'things' or activations you could spend your marketing money on. From social media to shows; advertising to PR; in-store versus away-from store; influencers to affiliates; and so on, and on.

The key here is to select fewer things at the start of your brand journey, and do them very well, ensure they link and are amplified, and then layer on other 'thing's as you grow.

An example, we worked with a very well-known sausage brand in the UK. Within 5 years they had full UK distribution and were the Sunday Times 5th fastest growing UK business. But as well as making good quality products, they succeeded by doing just 3 activations very well. Consumer shows, Social media and PR. All connected, all amplified and all done at scale.

They did no advertising; no shopper marketing, no trade shows. Just a focus and commitment to doing those other things exceptionally well, and in a distinctive and ownable way to build your brand.

So there you have it. The 5 key elements of compelling, and winning. Marketing plans. Writing them shouldn't be a chore, indeed they can – and should – be fascinating.

Good luck, and if you need a helping hand, please get in touch on 07480 515005 or email me: nigel@themarketingplace.co.uk