Think back on particular plans you’ve made in your life – both in business and in your personal life. How often do they play out exactly as you intended?
Like other types of planning, marketing planning can’t be counted on to help you control the future, it can only ensure you take a more organized and intentional approach to it. That’s undoubtedly a good thing, but if you’re not careful, your marketing plan could become a hindrance if you treat it as static in the face of new information.
Businesses that get the most out of marketing planning benefit from taking a more dynamic approach. You should create the best marketing plan based on the information you have available now, but understand that today’s information is an incomplete picture. The best course based on information you receive tomorrow may be different.
Allowing some flexibility into how you approach your marketing plan may feel risky or strange at first, but it can really pay off, here’s why.
You Can’t See What’s Coming
Dynamic marketing planning gives you room to adapt to the events and updates you didn’t know to expect. That could mean getting in new marketing data that provides greater insights into your personas or target verticals. With better intelligence in hand, why wait to deploy it across the next, new program?
In addition, marketers engage with an ever-changing world. When new opportunities to connect with target prospects arise, it’s imperative to adjust the marketing directives now to stay on the cusp. Flexibility in your marketing planning gives you the means to react in a timeframe that makes a difference.
You Can Course Correct Before It’s Too Late
If you have sophisticated enough technology to provide real time marketing analytics, then at some point you’re going to get the bad news that a marketing campaign currently in process just isn’t working. If you feel like a plan’s a plan and you have to follow it through, then you’ll be following that campaign right through to it’s disappointing end.
But if you’ve embraced flexibility in your marketing planning, then you can make changes to it in real time to minimize the damage and either salvage the campaign, or shift more of your budget over to a campaign that is paying off. Either way, you’ll end up with a more impressive quarter and a higher ROI to show off to your CEO.
You’ll Get More of Your Budget Back
Recognizing what’s not working sooner gives you the power cut out spending that won’t pay off. Any particular marketing activity or campaign that isn’t getting traction is wasting time and money. There’s no reason to keep them going when you can take that money back and determine somewhere better to re-invest it.
When you can move your budget toward the campaigns and activities getting the best results in real time, you’ll get more for your money. And chances are, the marketing results you bring to your CEO could lead to getting an even bigger budget approved in the year to come.
Plans are important, but being able to mix a little strategic spontaneity into your marketing can be a boon to your ability to respond to information as it comes and craft the kinds of campaigns that get better results.
Do create a marketing plan to guide you, but don’t treat it as gospel. Dynamic marketing planning will allow you achieve greater heights than the slow process of making changes and awaiting incremental results.Icon made by Freepik from www.flaticon.com is licensed under CC BY 3.0