By Kat Mandelstein
The corporate marketing plan as we once knew it no longer works. You remember the one we all learned in marketing school where your marketing team built a six- month to one-year detailed plan of how you were taking your product to market? Many of us, myself included, have worked in this traditional model for years. I have come to the realization that this model just doesn’t work anymore. I think it is time—just like product development has moved to a more agile, iterative process—to adopt a similar approach to developing the marketing plan.
First, the traditional approach is not responsive enough to market change to adapt to new opportunities and new challenges. With rapid economic changes and first mover advantage, a plan that was built six months to a year ago does not allow a company to be nimble enough to address new markets or react to challenges in existing markets. Having a base plan to start with and taking an iterative approach to adjusting that plan ideally monthly, but at least quarterly, would allow your company to be more reactive to threats and opportunities. (continued… “A call for a more agile process for developing your marketing plan”)