Well guess what? It's not 1982 anymore. While most companies still do budget planning on an annual basis (whether it is calendar or fiscal), today, a marketing plan needs to be nimble, flexible and attuned to the changes in the industry and with your competition. Since small companies are in a better position to change course quickly, this gives them a distinct advantage over large companies who cannot turn the barge easily.
In short, there is no reason to wait for the fall to do planning for the following year. There is no reason to begin a new plan on January 1. If market forces dictate a change in course, that change should be affected as soon as possible. With online expenditures grabbing a larger portion of client budgets, the ability to move quickly is that much easier. Most online programs are not as tied to the calendar as print has traditionally been.
So with the first half of the year coming to a close, don't wait to plan for next year. Why not start next year now.
Contact us for ideas on how you can fuel inject new life into your marketing plan now!
Great article Larry. I'd recommend a very fluid Marketing Plan in this day and age. At a minimum review activities, update goals, plans, and yes, if necessary, budgets I would say every three months.
ReplyDeleteBeing very attuned with online marketing and social media more so than regular "traditional" marketing these days, I can't believe that just a few years ago at our agency we would have "annual review" meetings with clients.
Brian,
ReplyDeleteThanks for the comment. Despite my post, we am sorry to say that it will take years before anything really changes in this area. The reason of course is that marketing cannot operate on its own calendar. Corporate budgets are still set for an annual year (with readjustments sometimes) so asking a client to start a new campaign mid-year swims against the tide.