Credibility is essential for any marketer. If the wider business is not bought into you and your ideas as a marketer, you cannot successfully execute projects throughout the business.
But with limited time and so many functions to consider, where should you begin with making a bulletproof marketing plan?
Winning over Finance
When it comes to making your marketing plan bulletproof, we always recommend you start with your Finance team. And what is the one thing you must do to win over Finance?
Do the maths.
You can argue about the creative all day long, but you can’t argue about the maths. Do the maths properly and you’ll make your marketing plan bulletproof.
Here’s what ‘doing the maths’ looks like in four simple steps.
1. Start with the financial business objective
Begin by taking a closer look at the financial business objective. Whether it’s revenue growth, profit margins, or market share expansion, identify the key financial goals that drive your business forward.
2. Turn the objective into a measurable change in consumer purchase behaviour
Once you’ve established the financial objective, the next step is to translate it into a measurable change in consumer purchase behaviour. It will boil down to one or more of these three metrics: more people, more spend, or more frequent purchases.
3. Align consumer behaviour change with marketing activity
Next, it’s time to pinpoint the marketing activities capable of driving the desired change in consumer behaviour. Whether it’s strategic partnerships, NPD, or a TV advert, align your tactics with the objective at hand.
4. Determine investment levels
Equally important is identifying the appropriate level of investment required to achieve the desired change at a scale that aligns with your financial objectives. This step ensures that your marketing initiatives have the necessary resources to make a significant impact.
💥 Result: a bulletproof marketing plan
Congratulations! By following these steps, you’ve crafted a marketing plan that will speak to Finance in their language. That’s the beauty of this approach. It shifts the conversation. Instead of debating creative choices upfront, you’ve laid a solid foundation rooted in numbers. Armed with a well-thought-out plan, you can now engage in discussions about creative elements, knowing that your marketing strategy is built on a robust framework.
Unlock Annual Planning
At LockSmith, we know how challenging it can be to write brand plans that the whole business buys into. So we’ve written a training course to equip marketing teams with the skills they need to develop and write a successful annual plan, covering situation analysis, strategy, activity selection, budgeting, KPI selection and writing a plan on a page.
Get in touch here to discuss if this is the right training solution for your team.