Write A Simple, But Effective Marketing Plan

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A good marketing plan provides a compass that you can use to navigate your company in the right direction.

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Write A Simple, But Effective Marketing Plan

  1. 1. Write A Simple, ButWrite A Simple, But Effective MarketingEffective Marketing PlanPlan by Varju Luceno “A practical marketing plan provides a compass that you can use to navigate your business in the right direction.“
  2. 2. An effective marketing plan would help you:  Identify ideal clients  Evaluate your company against your industry or market  Track and analyze results so you learn what works and what does not Without a compass, you may be moving fast, but not in the right direction. Here are eight steps to creating a practical marketing plan: Write A Simple, But Effective Marketing Plan 2
  3. 3. 1. Gather information, describe current market conditions. Good sources of information: • Industry blogs and forums • Industry reports (First Research) • Social media, especially LinkedIn groups • News articles • Newsletters • Newsgroups • Search engines • Subject sites • White papers Organize your information. Get to know your competitors and current trends. You can position your product or service accordingly. 3
  4. 4. 2. State your marketing objective. Describe what you would like your ideal customer to do after hearing or seeing your marketing message. 3. Describe your competitive advantage. Does your product or service provide a solution for a problem that has not been solved yet? Describe how. 4
  5. 5. 4. Tell who your target audience is. Get laser sharp in focusing on a very specific market. Listen to your target market and how they make purchasing decisions. 5
  6. 6. 5. Position yourself. How will you, your product, or your company be remembered? What will your ideal customers and prospects think when they hear your company’s name? Identify your niche. What makes you different from any other firm serving that niche – is it price, value added, or speedy service? 6
  7. 7. 6. Describe your marketing message vehicles. How will you get your company/service/product in front of your ideal customer? How are your competitors achieving their goals? Use the information you gathered in Step 1 and choose marketing mediums. You can start with free press releases, articles, blogs, ads in trade publications, social networks, etc. 7
  8. 8. 7. Develop your identity/voice and let it show. Logo and business cards may convey your image, but there is something else that makes your prospects as well as customers know, like and trust you – it is YOU. Be professional, but not all business. Document your experience and story. 8
  9. 9. 8. Develop your marketing budget, preferably as a percentage of projected gross sales. The average business in the United States invests about 10 per cent of gross revenue in marketing. You may need to invest double of that number during your first years in business. Revisit your marketing plan and review your numbers each year, make adjustments as needed. Provide relevant information (yes, this is marketing) to your audiences – consistency is key. Good work! Now it’s time to develop a budget and commit to a marketing calendar. 9
  10. 10. 8. Develop your marketing budget, preferably as a percentage of projected gross sales. The average business in the United States invests about 10 per cent of gross revenue in marketing. You may need to invest double of that number during your first years in business. Revisit your marketing plan and review your numbers each year, make adjustments as needed. Provide relevant information (yes, this is marketing) to your audiences – consistency is key. Good work! Now it’s time to develop a budget and commit to a marketing calendar. 9

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