When Does a Marketing Plan Need Revising? (2024)

FAQs

When should a marketing plan be revised? ›

Quarterly: Marketing plans should also be revisited quarterly. Some marketing departments might choose to revisit their marketing plans monthly, but this will depend on the types of marketing activities your team executes.

Revising your marketing strategy regularly keeps you current, relevant, and adaptive to the market. In recent years, it was likely adding Tik Tok to your digital portfolio. Growing your business and expanding your market are typical reasons for revising your marketing strategy.

In general, it is a good idea to review and potentially update your marketing strategy at least once per year. This allows you to assess the effectiveness of your current strategy, make any necessary changes, and ensure that your marketing efforts are aligned with your business goals.

No matter which type of business plan you created, you should ALWAYS review it on an annual basis at a minimum. Publications such as Entrepreneur, Forbes, Inc. and many more recommend that you conduct a thorough update on your business plan at least once annually.

Annually: Review your goals and projections

“If you're still using the financial plan you created two or three years ago, it may not align with your current goals or needs. Financial pictures change rapidly, so it's important to take an in-depth look each year,” wrote The Ascent.

It gives you a chance to review your marketing strategy and determine what's working and what needs improvement in order to enhance your digital presence and encourage business growth.

It helps you align your resources, communicate your priorities, and measure your progress. But a strategic plan is not a static document that you create once and forget. It needs to be revised and updated regularly to reflect changing realities, opportunities, and challenges.

Since your business and competitive market is always changing, your business plan should change too. Stubbornly hewing to a long-term plan that isn't working could doom your company. So regularly revise assumptions and growth projections based on real world results.

Revision techniques include flash cards, past papers, mind maps, group work and recording yourself talking then playing it back. Finding what works for you involves trial and error. Bear in mind that what works well for one exam might not work for another.

Why do marketing campaigns need to be reviewed? ›

A stale or outdated marketing plan is one of the most common reasons for steady declines in website traffic and lead generation. Brand strategy marketing should clearly identify goals and key performance indicators so that results can be measured and the highest possible return on investment can be obtained.

The Rule of 3 in marketing and persuasion…

In it, Dan talks about how he structures the entire content of his speeches around his 3 over 3, 3X formula. So, for example, his Magnetic Marketing speech was built from the Message-Market-Media triad, and he covered 3 points about each during the speech.

Stick to the rule of one. Engage one audience, deliver one message and craft one call to action. Marketers often cast too wide a net when choosing their target market. If you want your message to resonate–narrowcast (spreading an advertising message to a select demographic).

By reassessing your strategy and goals every 90 days, you can ensure you're working effectively and efficiently toward achieving your long-term goals while also making sure you adjust those long-term plans as needed.

Because of its importance and far-reaching affect, the plan should be revised and updated at planned intervals. Some organizations revise their plan every year while others wait three to five years.

A marketing plan should be evaluated at the end of a marketing campaign cycle. This allows for direct feedback to create the next campaign.

How often should a company REVIEW its strategic plan? At minimum, an organization should review its strategic plan quarterly, with at least two of those sessions involving the board of directors. This enables organizations to learn, evaluate and course-correct in real time.

It should outline who you are, what you do, who your customers are, and how you plan to market to them. Your plan should cover a 12-month period.