If you're thinking about developing a marketing program, you need to
begin with a marketing plan. Having been in marketing for more than a
decade, I have seen my share of marketing plans. Some are short and to
the point, others are hundreds of pages thick and cost thousands of
dollars to produce.
The irony is that many of the expensive marketing plans end up on a
shelf and rarely get implemented. The simple plans, if researched and
implemented effectively, have the greatest impact.
Regardless of the scope of your marketing plan, you must keep in mind
that it is a fluid document. Every business needs to begin with a well
structured plan that is based in thorough research, competitive
positioning and attainable outcomes. Your plan should be the basis for
your activities over the coming months. However, you should always be
willing to enhance or redirect your plan based on what proves
successful.
Marketing Plan Basics
1. Market Research
Collect, organize, and write down data about the market that is
currently buying the product(s) or service(s) you will sell. Some areas
to consider:
Product - what's out there now, what's the competition offering
Current sales in the industry
Benchmarks in the industry
Suppliers - vendors that you will need to rely on
2. Target Market
Find niche or target markets for your product and describe them.
3. Product
Describe your product. How does your product relate to the market? What
does your market need, what do they currently use, what do they need
above and beyond current use?
4. Competition
Describe your competition. Develop your "unique selling proposition."
What makes you stand apart from your competition? What is your
competition doing about branding?
5. Mission Statement
Write a few sentences that state:
"Key market" - who you're selling to
"Contribution" - what you're selling
"Distinction" - your unique selling proposition
6. Market Strategies Write down the marketing and promotion strategies that you want to
use or at least consider using. Strategies to consider:
Networking - go where your market is
Direct marketing - sales letters, brochures, flyers
Advertising - print media, directories
Training programs - to increase awareness
Write articles, give advice, become known as an expert
Direct/personal selling
Publicity/press releases
Trade shows
Web site
7. Pricing, Positioning and Branding
From the information you've collected, establish strategies for
determining the price of your product, where your product will be
positioned in the market and how you will achieve brand awareness.
8. Budget
Budget your dollars. What strategies can you afford? What can you do in
house, what do you need to outsource.
9. Marketing Goals
Establish quantifiable marketing goals. This means goals that you can
turn into numbers. For instance, your goals might be to gain at least 30
new clients or to sell 10 products per week, or to increase your income
by 30% this year. Your goals might include sales, profits, or customer's
satisfaction.
10. Monitor Your Results
Test and analyze. Identify the strategies that are working.
Survey customers
Track sales, leads, visitors to your web site, percent of sales
to impressions
By researching your markets, your competition, and determining your
unique positioning, you are in a much better position to promote and
sell your product or service. By establishing goals for your marketing
campaign, you can better understand whether or not your efforts are
generating results through ongoing review and evaluation of results.
As mentioned earlier in this article, be sure to use your plan as a
living document. Successful marketers continually review the status of
their campaigns against their set objectives. This ensures ongoing
improvements to your marketing initiatives and helps with future
planning.
Save 30% on Marketing Plan Pro! Marketing Plan Pro includes everything you need to create a
professional, complete and accurate marketing plan. Whether you are
presenting a marketing plan to your department, working for a Fortune
500 company or simply looking for a marketing direction for your small
business, Marketing Plan Pro has all the
tools and features you need.
Michael Fleischner is the founder and President of
MarketingScoop.com. He has appeared on major media including the
TODAY Show, Bloomberg Radio, and more. With more than 12 years of
marketing experience, Michael has developed major brands as well as a
variety of businesses in need of leading marketing programs. Visit
http://www.marketingscoop.com for more free marketing articles.
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