Should a marketing plan be updated? After all, if it is working well, why disrupt it until it becomes ineffective?

When deciding to overhaul a marketing plan, the small business should evaluate whether or not the marketing strategy is bringing in new customers or if the business is coming through former and current customers and possibly word-of-mouth. Marketing plans, after all, are not there to just attract current customers, but to generate new business.

Review Quarterly

Reviewing a marketing plan does not necessarily mean it will be changed. But, even the best marketing plans should be reviewed with some frequency to make sure the campaign is working. Scheduling the meeting quarterly ensures that this review will happen regularly. Marketing meetings afford the opportunity to troubleshoot possible problems with a marketing strategy and can be a session in which to begin brainstorming for the next marketing plan. Regular reviews mean that the small business stays abreast of the market place and is prepared for change.

Some companies prefer to review marketing strategies even more frequently, such as monthly or weekly. This is truly a decision that has to be made individually, as some small businesses will not have the resources for frequent marketing changes or even frequent review sessions.

If the Plan Is Not Working

When the marketing plan was originally developed, it should have included goals that the marketing strategy was meant to accomplish. The regular review will allow the small business the opportunity to investigate whether or not those goals have been met. If they have not, it is definitely time to update the marketing plan.

At this point, the small business will want to evaluate where the marketing strategy failed. It may have been the wrong type of advertising method for the target customer base. It may be that the goals of the marketing plan were too lofty. Whatever it is that needs to be updated, the small business must fix it. Any aspect of a marketing plan that is not working is wasted money.

Even if the marketing plan is succeeding, it would not hurt to tweak it periodically just to keep the material fresh. Examine where the strengths and weaknesses of the plan are and determine where money could be saved or extra money could be spent.

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