Five reason’s why your hospitality business needs a marketing plan.
As a business owner, you're most likely passionate about your business and the hospitality industry. Just like me, I am a hospitality marketer and I love hospitality marketing.
However, a marketing plan is a critical component for your business, no matter how big or small that business may be. After all, marketing is what drives sales and sadly without sales you won’t have enough money to stay in business.
So what will a marketing plan do for you and your hospitality business? Here are our top 5 reasons why we believe a marketing plan is essential to any business.
1. It provides you with a blueprint.
A marketing plan provides your business with a guide or road map to follow. This road map, also known as the marketing plan identifies goals for your business and clearly planned out strategies (steps) on how you're going to meet these goals.
2. It creates a set of measurable goals for your business.
Instead of simply selling more products then last year a marketing plan should identify measurable goals for your business to work towards. By creating SMART goals (Specific, Measurable, Achievable, Realistic, and Timely) it will help focus your efforts and increase the chances of your business achieving your goals.
3. It gives your business direction.
Once your plan is complete you will have a road map that outlines what you want to achieve and the steps that your business needs to take to get there. A marketing plan makes your goals no longer just ideas in your head and helps you allocate tasks to everyone to get them on the same page to work towards your businesses goals together - One team, one dream.
4. It helps you stay focused.
There are so many marketing opportunities out there these days that it's easy to get distracted and even lost in the chaos. Your marketing plan will give you an easy go-to reference guide to remind you of what the best direction and opportunities are for your business based on what outcomes you wish to succeed.
5. It sets a desired marketing budget.
Instead of just boosting a Facebook post because you think it's a good idea at the time or you haven't done so in a while. A marketing plan helps you align a set amount of money to each of your set goals which will help you strategically allocate and spend your money more wisely.
So what are the basics elements a Marketing plan should include?
Who are you? What do you do? How are you different from your competitors? What are your strengths vs weaknesses, opportunities vs threats.
Who is your ideal customer? Breakdown all the demographics and even create an ideal customer profile.
SMART goals that clearly state what you want to achieve by when and why.
Marketing Strategies: How are you going to achieve your marketing goals? Step-by-step.
Dedicate a set amount of your budget to each of your goals.
If this all sounds a little foreign to you or maybe you just don’t have enough time on your plate to even begin thinking about all this, that’s ok - because that’s why I am here. I have the time and boy, do I love thinking in this frame of mind. Read more about my marketing strategy service or get in touch with me today.