Creating a Marketing Plan
A marketing plan will focus solely on the overall plan of action. It will include what you’re selling, who you’re selling it to and the tactics you’ll use to sell it. Here’s how to create the perfect plan!
Begin with an analysis of your businesses current situation
You need to define your company and the products or services you are offering. Then you need to show how these differ from your competition and what factors set you apart from them. You need to have a clear overview of your company’s strengths, weaknesses, opportunities and threats. Reviewing your company’s situation against competition’s situations will assist you in effectively marketing your service in a way that will set you apart from the rest.
Then define your target audience
Once you have defined your current situation you then need to define and describe your target audience. Try to develop a profile of your prospective customer. Describe them in terms of demographics and lifestyle. Segmenting your audience is important. Ask questions about your prospective customer; get to know them, their purchasing patterns, and more. Getting to know your customer will help you know how to appeal to them. You should know what they like, why they need your particular product or service and more. All of this information will simply allow for easier targeted marketing.
List your goals
Quite obviously, you need to list your marketing goals. Be sure to write down a list of the things you want to achieve overall in terms of your business and platforms you choose to market on. Make sure the goals are SMART. This means making them specific, measurable, attainable, realistic and timed. Having SMART goals simply makes your life easier when it comes to assessing your marketing efforts.
Develop your strategy
It’s important to develop tactics and strategies you’ll use throughout the marketing of your business. Plan the tactics you’re going to use to reach prospective customers. You need to outline strategies you’ll use to reach your customers. It’s also good to identify your marketing mix and use this in your favour. Your marketing mix will help you find out what media your target audience turns to for information. It will also help you outline everything you need or everything you have to market your product or service.
Set an overall budget
You need to set an overall budget in terms of your marketing department. This may mean devoting a percentage of projected gross sales to your annual marketing budget or using newly acquired funding, borrowing or self financing. Marketing is absolutely essential to the success of your business. You need to ensure that you set a budget for an annual marketing plan, this budget needs to include all the marketing campaigns you’re going to do.
The key to a marketing plan is to never stop marketing. Even if you’re spending no money, you need to continue marketing and maintain your status on media.
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