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23.06.2014
Christina Boyle on KODAK HIRES LAW FIRM FOR RESTRUCTURING ADVICE, IS THE END NEAR FOR THIS 131-YEAR OLD COMPANY, OR IS BANKRUPTCY NEXT? If you are the founder of a new startup or an existing business it's highly recommended that you develop a roadmap that will get you from where you are today to where you want to be tomorrow, six months from now, or a year or longer down the road. A marketing plan should be a formal written document, not recalled from memory or something scribbled on a napkin.
Segmentation, Targeting and Positioning - This three stage process involves analysing which distinct customer groups exist and which segment the product best suits before implementing the communications strategy tailored for the chosen target group.
SOSTAC® - This acronym stands for Situation, Objectives, Strategy, Tactics, Actions and Control and is a very popular classic marketing planning framework for creating marketing plans.
Ansoff's Growth Strategy Matrix - Ansoff’s Growth Strategy Matrix identifies alternative growth strategies by looking at present and potential products in current and future markets. For my money, the SOSTAC® marketing planning model is the model I use the most when developing marketing plans. SOSTAC® is a marketing planning model, originally developed in the 1990s to help with marketing planning by PR Smith, who together with Dave Chaffey co-authored Emarketing Excellence. You can see it gives a logical order for tackling your plan (with iterations) and a great way to summarise the main elements of each.
SOSTAC® has become very popular since it’s simple, easy to remember and covers all the main issues which you need in a marketing plan or business plan. Here are some tips on how to use SOSTAC® based on Chaffey's experience applying the model in companies and in academia. Use SOSTAC® to review your process - Before looking at how you apply SOSTAC® at each step to create a marketing plan, use it to review your planning process and how you manage your marketing.
Integrate the different elements of your SWOT Analysis -  Oftentimes in a plan or report there isn’t good flow relating sections. Where Are You Today - You must know where you are today in order to develop a roadmap to where you want to be in the future.
Know Your Strengths and Weaknesses - Take an inventory of your individual and management teams strengths and weaknesses. Organizations - Describe them by number of employees, sales, geographic location, and industry. SWOT Analysis - Identify your competitive strengths and weaknesses, business opportunities and potential threats. Management Team - List the key members of your present management team and very brief description of their business and industry experience and education. Milestones Accomplished - Elaborate on significant milestones that have accomplished to date. Your marketing strategies answer the big question:  HOW do you get from where you are today to where you want to be tomorrow?


Core Marketing Message - Your core marketing message is a short description of your business, products and services, employees, core values, business philosophy, mission and value proposition you bring to the customer relationship.
Define Your Brand - Your brand isn’t just your corporate identity like your logo, tag line, motto or its visual associations such as unique design, colors or packaging, but the relationship you have with your customers. Pricing Model - Describe the methodology you will use to set prices for your products and services.
Distribution Strategy - Describe the distribution channels you will utilize to get your product or service to your target market (e.g. Advertising and Promotions Strategy - Determine what media channels you will use to market and promote your products and services to your target market (e.g.
Public Relations Strategy - Describe the methods you will utilize to inform, communicate and educate your public (e.g. Strategic Alliances - Describe the nature and type of third-party alliances you anticipated will be needed in order to compete effectively in the marketplace.
Word-of-Mouth -  Describe how and the methods you will utilize to create word-of-mouth.
All of the crucial information regarding your marketing budget is laid out right in front of you. Perhaps the best part of the Excel template marketing budget planning tool is the fact that it also serves as a calculator.
There’s no need to reinvent the wheel, there are quite a few free, simple and easy to use marketing budget templates, samples and plans available online. You’ll find that most marketing budget templates out there are in Microsoft Excel, which makes them easy to modify and adjust to suit your particular business needs.
Earlier this year, Simon O’Day Vice President of Responsys Asia Pacific got in touch to share with us a snapshot of how Australian marketing budgets are being spent, so make sure you check out the article How Are Australian Marketing Budgets Being Spent In 2013?. Sally Wood also shared some elements to consider when putting together a marketing budget in her article on The Real Cost of Marketing. If you have come across any other free marketing budget templates you have found useful, please share them with us below. Get a free basic business listing for your Australian marketing business or creative agency.
SOSTAC is more comprehensive and borrows elements of several of the other popular marketing planning models. The four growth strategies include: market penetration, market development, product development and diversification.
Include major new customers, revenues, no of unique visitors, downloads, new patents, major personnel additions and awards.
Will you be using inside sales personnel, inbound or outbound sales personnel, outside sales personnel, manufacturer's representatives, independent salespeople or network marketing personnel.


Keeping track of the marketing expenses is an unenviable task, but it’s one that absolutely must be done for several reasons. The estimated subtotal will be automatically calculated once the estimated quantity and cost per unit has been input. While these techniques and strategies can reach many new clients for a business, they also require significant investments in order to launch. It is important to make your estimates as realistic and accurate as possible to ensure your marketing budget is effective.
We decided to share with you 7 free templates that we have come across to help you take that first step and plan for your businesses marketing activities. You might even decide to create your own marketing budget template based on a combination of different elements you like from the examples below. Don't think in terms of what other organizations or individuals have done, but how you are going to get it done. The estimated marketing grand total will be revealed at the bottom of the worksheet once all the totals have been added and calculated. The categories within the chart include research, communications, networking, event, promotions, advertising and public relations. They can also help to reduce risks associated with impulse decisions which can prove to not only be costly but ineffective. Perhaps you’re not so good at setting SMART objectives, or developing strategies to support them or the control stage of assessing how effective your strategies and tactics are and adjusting them? There are categories for the estimated quantity you will need, the estimated cost per unit and the estimated subtotal. Below you’ll find 7 free marketing budget templates and examples to help get you started.
This template is one of hundreds that are available on this site that are designed to help you with business needs. You should include everything the marketing or PR department is currently spending on in one section, and the other section should have the sources listed where the incoming funds are coming from.
You may want to have specific references to the books where the funds are listed at so that when the marketing department is audited, the funding sources can be checked to make sure there are no discrepancies found between company departments or outside sources. It is best to make sure the company budget has been reviewed recently to make sure all the financial numbers are accurate and up to date.Download: Marketing Budget Plan TemplateNot what you were looking for?



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