ANNUAL MARKETING PLANNING

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Keeping in mind these mistakes, we established some ground rules for the planning process:

  • The primary purpose of marketing planning is to determine how to drive revenue growth today, how to set the company up for long-term growth, and how to do this efficiently–and to get everyone in the company on board with the plan.

  • A couple KPIs (key performance indicators) is not a marketing plan. These are part of your plan, but not the entire marketing plan.

  • Marketing’s planning process should be more similar to a product team’s process than a sales team’s: The critical marketing “deliverable” to get right is a roadmap of big bets (like product!).

  • So, the bulk of planning time should be spent figuring out big bet projects. If you don’t spend time thinking about strategic bets, you won’t make them, and you won’t change the growth trajectory of the company. You'll fall into the random acts of marketing trap.

  • Budgeting time for the behind-the-scenes work is critical. If you don’t account for work like hiring, tooling, research, analytics, optimizations, and tests, you’ll misestimate what’s possible.

  • The forecast will not be made in a vacuum but will depend on the strategy and work we plan. Therefore, we can’t deliver a bottom-up forecast, approve a forecast from finance, or make a budget without doing planning work first.

  • We’ll set 3 types of marketing goals: KPI goals for metrics you plan to hit, big-bet project milestones, and the completion of behind-the-scenes ops work. Let’s call these “K.P.O goals".

GIST recommend all marketing teams share this set of ground rules with all stakeholders, including cross-functionally, as you kick off an annual (or quarterly) planning process.


www.gistmanagement.com

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