A marketing plan is not just a piece of paper or something to be ignored. It is the first step in any marketing process. This is is the most critical piece to your business plan.
Before you start a business or develop a product you should figure our how you are going to market it first.
If you can’t market it then you can’t be profitable in that niche.
Many small businesses do have some sort of marketing plan or at least know that they need one.
Independent professionals and sales reps somehow feel that they don’t.
Most either dial for dollars knock on doors, or they go after 1 to 1 networking and most small business owners hire sales reps to do just that.
For most of you this is where your marketing stops.
In order for any business to thrive and grow its needs to contentiously increase its profits.
You do this a few ways either by adding new customers or repeat sales to existing.
In any case you need to be doing both and a marketing plan gives you the blueprint ion just how to do that.
1) Market Research:
The most important thing to do before creating your marketing plan is to see if there is a market in the first place.
It is always easier to tap into an existing demand than it is to create an entirely new one. You can research the market in several ways.
There are many consumer reporting agencies out there where you can pull information from to see how much or whether or not consumers are spending money in your market.
Surveying is also a good idea. You can survey your local areas to see what the response is to your questions. This will give you all the pertinent information on your market. This is best to be done with collateral like a contest or a give away.
If you are headed towards internet marketing than you can pull a consumer report to see just how much money is being spent online in your particular niche. An easier way to do this is to research keywords.
The supply and demand of a keyword lets you know if people are searching for what you have to offer. If not then there is probably not a market for it. The demand divided by the supply of a keyword will give you the profitability of that market.
2) Marketing Goals:
The marketing goals should define numbers and percentages in your marketing. This should tell you what your marketing should be doing in order for your business to grow.
For example how many leads should be generated, how much your response rates should be, what your conversion rates should be, how much revenue should be generated and how much profit should you be taking away from that.
Over time these numbers should continue to improve.
3) Marketing Strategy (Message):
Your marketing strategy should answer the question of how would you like to be positioned in your customers mind and in the marketplace. What is your USP, your unique selling proposition. This is what you craft your message from.
Do you want to be known as the cheapest, the classiest, the quickest, or the easiest etc. What methods are you going to used to get this message across to your customers.
4) Marketing Mediums:
After you have done all the proper research and developed your strategy the next step is to figure out what communication medium you will need to use to get the word out there. Are you going to use the internet, print media, direct mailing, or maybe even radio advertising.
The medium that you use must be geared towards the audience that you are trying to reach.
For example is you are marketing to senior citizens broadcasting on heavy metal radio station does not fit your core audience.
5) Marketing Tools:
Once you figure out what medium you are going to use figure out what tools will best suit those mediums. Any job is made easier if you have the right tools. The great thing about marketing tools is that once they are created you can use them over and over again.
Let’s say that you are looking to market via the internet, an online newsletter delivered via an autoresponder would be a great tool for you to use.
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