Successful marketing plans
Smart small business owners know the importance of a business plan, which outlines your company’s course for success. One critical portion of that plan is your marketing strategy.
Because this strategy is buried in the larger business plan, you may not give marketing the attention it deserves. However, an in-depth layout of your marketing strategy can reveal opportunities from a new audience or potential product line, pitfalls in pricing, competition reaction, and potential reach. After all, you don’t want to miss out on the profits you could be making with an effective marketing plan.
A marketing plan describes who your customers are, where they get information and how you expect to reach them. Here are a few important things to keep in mind as you create your plan.
The elements of the plan, you need to figure out how you are going to reach that target customer. Aside from traditional print and broadcast media, here are three tech-driven marketing channels that many of today’s business owners utilize.
- Market Focus
- Product Focus
Every successful marketing plan is actually a planning process, not just a plan. Things change too fast for static plans. A good marketing plan is part of a process that involves setting goals, measuring results and tracking performance. It entails regular review and revision.
Conclude Plan with Sales and Marketing Action Plan
This section of the marketing plan outlines each marketing event or action planned to increase sales. The plan will generally cover a calendar year, broken down by month or by quarter. For example, it may contain a summary of quarterly promotion and advertising plans, with spending, timing, and share/shipment goals for each program.