Marketing Plans

A great tip to identify what type of marketing plan is right for a business is to ask this question “What is the lifetime value in profit of a customer we sell to?”

I suggest you then assign your business into one of these three customer lifetime profit value categories

1. Sub €200 profit
2. Sub €2000 profit
3. Above €2000 profit

This is important as it defines your cost of customer acquisition (what it costs a business to get a customer to buy from them) and how much a business can afford to pay for clicks, traffic and a sales lead. The business should also figure in customer churn, do not over calculate how often or how long a customer will stay loyal to a business. Depending on the business model, the marketing plan also affects cash flow, because you pay for marketing upfront with a lag over weeks or months to get an ROI on the tactics.

Marketing plans and go-to-marketing strategies may get more advanced and complicated as a business grows but for the vast majorities of companies a simple, effective marketing plan will suffice. Do not write a marketing plan to please an investor or bank manager, write the marketing plan as your best bet to get customers interested into what you are selling.

The full article on marketing plan can be read here Marketing Plan – The Bitter Business

Marketing Plan Template – The Bitter Business

 Marketing plan template and guide

                           The Bitter Business

A marketing plan will help a business identify the markets, product to market fit, customers and competitors which underpins the strategy selection to make a business sustainable. This marketing plan template courtesy of The Bitter Business can act as a guide through the process of creating a solid, well thought out marketing plan for your business.

Download the marketing plan template for free here. Marketing plan template and guide

Why every business needs a marketing plan

A good well thought out marketing plan will help the business stakeholders to answer key questions about the business, and act as a reference document to help the team execute the marketing strategy. It will also help develop a structured approach to creating services and products that satisfy the market and customers’ needs.

When writing a marketing plan,  always be clear about the marketing objectives and how the business is going to achieve them. This free marketing plan template can be a guide in setting those realistic and measurable objectives, budgets and action plans with ability to allocate resources.

Marketing Plan Template – The Bitter Business