A marketing plan is one of the most important parts of your business plan. It sets out how you are going to win customers to GROW your business. A successful business is one that successfully markets it's offering to it's target audience, and does so continuously and with consistency.
A marketing plan includes everything you need to know and understand in order to successfully promote your business. It shouldn't be a rigid document but one that can adapt with your circumstances.
What goes into the Marketing Plan?
Marketing Research: This will include reports on your industry, the market size and buying habits, whether it's growing or in decline and any current trends.
Target Market: Identify who are your most likely buyers? Identify two or three the segments of that target market.
Positioning: You will need to develop your marketing messages so that you are communicating your brand usp, values and how you want to be viewed in the market.
Competitive Analysis: Who are your competitors, how are you better then them, what are their price points, what segments are they focusing on. You will need to know this in order to stand out.
Marketing Objectives: What are your goals, what do you want to achieve and by when. Your goals should be S.M.A.R.T (Specific, Measureable, Achievable, Realistic and Timely)
Marketing Budget: Know how much you want to spend and stick to it. Develop a plan so you can allocate an monthly amount. Increase spend only on things that have produced results.
Track and Measure: If you are spending money on marketing make sure you are able to track and measure the results. Repeat the strategies that convert to leads and sales and stop spending on things that don't.
Whether you need an in-depth marketing plan or just hands on help with some aspects of it, book me in for a FREE 30 minute, no obligation, Zoom consultation to see how I can help you.