Before discussing a promotion plan or before putting any plan in place be it the business’ content marketing strategy, social media plan, SEO, or any other actions that your marketing department might be taking conducting a SWOT analysis is important. Being aware and keeping track of the results will help you make sure you’re not losing time or money on an ineffective promotional plan
Measuring the results and monitoring your metrics will help you understand whether you’ve put some smart goals in place when designing your plans or if you should reconsider. It’ll also give you a clear idea of how close you are to achieving your marketing goals and what your future steps should be.
What Is a Promotional Plan?
Before we dive deeper into the main components of a promotional plan, I think it’s absolutely necessary to understand what a promotional plan is. This will help us be more accurate in defining the future steps of a business plan, thus making it more likely for us to achieve our marketing objectives and grow.
A simple definition of a promotional plan is an element of a marketing plan for a specific product or service.
This basically means that a marketing plan can include various promotional plans depending on the nature of each marketing campaign, such as a new product launch, as well as the overall marketing strategy of the company.
Similar to an executive summary that outlines key points of a report, a promotional plan summarizes the key points of a promotion.
Here’s a more detailed
definition of a promotional plan:
In other words, the promotional plan includes a number of marketing tactics and promotional activities that the company’s marketing team will have to undertake.
Here’s what some of these activities might be:
General promotional strategies include;
- Public relations
- Sales promotion
- Social media marketing
- Online marketing
- Personal selling