Four Essential Marketing Plan Components
Preparing a Marketing Plan for your product or service is a real
eye-opening experience. While we all hope that our product or
service will appeal to the masses, the truth is, that may not
happen. Assembling a Marketing Plan first and foremost forces you
to clearly define what you are selling. From there, you define the demographics of the market for your
product or services. You research on-going or upcoming trends in
the industry, your existing and potential competition and whether
or not the market is already saturated. And the time to analyze this valuable information is before you
spend money opening the door to your new business venture. A
marketing plan is one valuable tool that will help your business
survive. Analyze the Market This section plays an important role in
determining who will purchase your product or service, and why.
You need to identify such attributes as gender, age group, where
they live, their buying habits and their social values. This section also has you look at the current economic climate
including upcoming changes in laws or technology that might
impact the delivery and/or reception of your product or service. It's also important to take a close look at your competition
whether it's around the block or around the globe. The more you
know about your competition the better prepared you are to deal
with it. Know their hours of operation, their organizational
structure, their promotions, their advertising outlets, whatever
you can find out. Identify Marketing Goals and Objectives With the information about your target market and your
competition in hand, you can better outline your marketing goals
and the steps to take to achieve these goals. Identify what you think are your company's strength and
weaknesses, and the resources you have available including staff
and finances. Committing your goals and the steps to a calendar
will help keep your marketing efforts on track and provide you
with direction. Define Marketing Strategies Before you can determine how you will market your product or
service, you've got to put together a features and benefits list,
including what it has that the competition lacks. You need a
price point, packaging, and you need to decide if and how much
you are willing to offer as a discount. All of this will help you
properly position it in the marketplace. This information is the
foundation upon which all your marketing and promotional
materials are created. Next determine the various sources available for marketing your
product or service. Some ideas include print ads, brochures, web
banners, your own web site, trade show exhibits, partnership
opportunities and promotional flyers. Implementing and Evaluating Marketing Programs The final two components are equally important. You've got to
define a marketing budget, determine how you want to spend it and
evaluate its effectiveness. Besides the marketing avenue, decide
whether or not you need to hire employees, and what training they
will need. Determine how you will motivate your employees,
including your management, so that they share your goals and
vision. Evaluating your marketing programs is just as important as the
other steps. You may find you need to revise your marketing
efforts including lowering the price, highlighting different
features, even selecting different marketing programs. An
effective marketing plan is one that is regularly updated. If the thought of creating a Marketing Plan has you overwhelmed,
get yourself marketing plan software. Using software will save
you time because the software knows the right questions to ask.
You fill in the answers as necessary, push some buttons, and
before you know it, you'll be printing a professional-quality
Marketing Plan that will chart your company's future! Copyright © 2004 Cavyl Stewart. Get more software tips, strategies and recommendations to help you create your marketing plan by signing up for my Exclusive 100% free, 100% original content ecourse: "Simple Steps To Creating A Rewarding Marketing Plan." To sign up please visit: http://www.find-small-business-software.com/marketing-ecourse.html
Related News
|
 |
|
|
RELATED ARTICLES
Professional Marketing
Have you looked for marketing advice on the internet recently? There is no shortage of self-proclaimed 'gurus' from which to choose. But what kind of advice are they shilling out? Too often, it's over-the-top hype, blatant commercial ad copy and other tips designed for selling an inexpensive product to the general public.
Open Doors by Building Relationships
"You can make more friends in two months by becoming interested in other people than you can in two years by trying to get others interested in you." - Dale Carnegie -
The Future of Marketing Part 1
It used to be if you were a small business, you were at a
distinct disadvantage with your marketing compared to the
bigger companies.
19 Ways To Attract Higher Paying Clients
Some people have little difficulty attracting and maintaining clients who have higher discretionary funds to spend for solutions. Others can't get to first base. If you are one of those and want clients that can pay more and you currently aren't attracting them, here is a list of 10 barriers that might be interfering.
How Effective Customer Surveys Will Help Innovate Your Business
Have you ever wondered why the phones aren't ringing the way they should? Or maybe sales are flat and you're not achieving the revenue and profit targets you set for your business.
There's one sure-fire way to uncover the problems to get your company back on track. The answers are right in front of your nose.
Marketing Strategy and Template for Independent Professionals
Having a marketing strategy and marketing approach is very important. Thus, instead of recreating the wheel, here is a short, sweet, easy-to-understand marketing strategy template to help you place your ducks are in a row in designing your marketing strategy.
Tradeshow Booth Cures - Living Color
Feng Shui is the Ancient Chinese practice of configuring home or work environments to promote health, happiness, and prosperity. By utilizing elements such as light and color, Feng Shui Masters used their skill to promote the flow of "chi", or vital energy , to protect and enhance the prosperity of the Imperial Dynasties. Widely practiced today, Feng Shui theory focuses on methods to manage the flow of energy and with skillful application, can effectively lead people into your booth.
Sales and Marketing: Can One Exist Without the Other?
Simply put the marketing people and the sales people depend on each other 100%. One cannot say that a marketing department is any more or less important then the guys who are closing the deals in the sales department. Indeed, one would not survive a day without the other which is why in many smaller companies the account manager are responsible for both functions.
The Power of because...
"Do it!", "Do it now!", or "Do it because..."
10 Important Steps to Mail Order Success
There are a number of difficulties a beginning entrepreneur may encounter that can "torpedo" his business almost before he knows it. But the wise mail order dealer can sidestep some of the pitfalls of operating his own business by recognizing and avoiding the following common mistakes.
Marketing, Lead Generation, and Research: A 3-in-1 Solution
I Hate Cold Calls
Why Direct Mail Advertising Works And How To Lower Your Costs
I met a lady who said she received a notice in the mail from a company offering plaques of various animals. She knew her daughter would love them as a gift and ordered them. This lady said, "I don't know how they got my name but I sure am pleased to have found out about those beautiful plaques, my daughter just loves them."
Top Four Marketing Secrets of Building a Professional Practice
Building a coaching or consulting practice can be rewarding and lucrative. Sadly, many who get started on this path simply can't make it. Almost daily I talk to people who give up on their dream of "solopreneurship" and, resentfully, join the ranks of job seekers.
New Years Revolution
No, that's not a typo in the title. Resolutions are easy; most of us make them at least once a year. A revolution, on the other hand, is something you may not have made since you started your business.
The 5 Musts of Marketing
For most of the small business owners I work with, marketing has become the equivalent of a four-letter word. Inevitably, when I ask the question, "Do you have a marketing plan?" or "What marketing activities do you engage in?" I get the full gamut of responses from the proverbial deer in the headlights stare, to a vociferous, "I hate marketing, it's the least favorite part of my business!"
Maximum Marketing - Minimum Budget
Two years ago I started my small Virtual Assistant business with a non-existent marketing budget. I borrowed marketing books from the library, read countless articles on the Internet and joined a professional trade association of my peers. I learned hundreds of marketing techniques and one valuable lesson. The lesson I learned is that the financial ruin of large companies is often achieved by incredibly expensive and glitzy marketing plans that do not take into account the company's ability to earn a profit. Over time, I found that the most effective marketing techniques that allow a company to make a profit are those that are inexpensive or free. What a fantastic discovery for me at that time! This knowledge, combined with hard work and excellent customer service, enabled my small business to expand at a phenomenal rate.
Everybody Loves Raymond....You Should Too!
Popular TV Series Provides a Powerful Marketing Lesson
Promotions for Mobile Detailers
Mobile businesses are quite unique in the way they must promote to stay in the customers mind; it takes creativity, savvy planning and a lot of listening to your customers. After years running a franchise system in 23 states with mobile detailing units everywhere. We learned quickly that professional auto detailing is more than just showing up on time, maintaining your customer base and looking sharp. Mobile detailers know you need to create promotions which are exciting. Here are a few ideas for you:
Ten Reasons Why Most Yellow Page Ads Fail -And Yours Does Not Have to
Grant Directory users are ready to buy Yellow Pages have a major advantage over all other forms of advertising. It's used precisely when people have decided to buy. They open the directory to check out options and sources. The directory doesn't create their desire, but assists in finding the products and services they want. A typical telephone directory has 18,000 display ads - a recipe for sensory overload. Even within any category, readers encounter page after page of look-alikes, all jammed together. So it's easy for advertisers to get overlooked. Catching the reader's attention is tough - unless your ad differs from the others in ways that matter to readers. Find out how to get more mileage from your ad at http://www.yellowpagesage.com a smarter way to attract Yellow Page customers. The ideal Yellow Page ad provides the answers readers want to find A great ad provides the connection between what buyers expect to learn before buying AND what your particular business offers. The more precisely a business understands its customers' frame of mind, the better it anticipates and answers their questions. It can provide specifics, instead of the general phrases appearing in every competitors' ads. Avoid these common reasons why directory ads fail, so you get more mileage from your ad dollars. And a higher percentage of callers and sales.
Fails to provide the information directory users want Information trumps images and expensive extras, like color. Readers are looking for specific answers. Use your ad space delivering them. Words provide persuasion's heavy lifting. If your message applies equally to the other ads around yours, you haven't sharpened it enough. Keep honing the copy until it embodies why people prefer YOU.
Fades into background - doesn't get noticed While larger ads can be overlooked, smaller ads have to work harder for the same shot at being noticed. Overlooked ads cost just as much as chosen ones. The solution isn't about changing the size, but focusing the words to match what readers want to know. It comes down to saying something unique and relevant to them.
Treats the business name or logo like a benefit It isn't. That's probably the least relevant information, as far as directory users are concerned. Yellow Pages aren't the way to build name recognition. But if you've already developed name recognition in other ways, you have a major chance of getting called.
Inconvenient business location Half of all users scan for location before actually reading the ads' information. They only pay attention to businesses that are convenient (within driving distance) and easy to find. (That distance varies depending on the product or service.) So make sure your location is prominent and findable (maybe a map). Or compensate for an undesirable location with house calls or free delivery.
Expects more than an ad could possibly deliver This problem isn't about the ad, but the advertiser's frame of mind. There's too much hype and biased statistics about what the directory can deliver. New businesses, especially, have unrealistic expectations. The longer a business is in operation, the less impact their listing has upon drawing new business.
Treats the Yellow Pages like a stand-alone marketing method It works best for getting new customers, to capture the "undecideds." But relying on mostly new business is an inefficient way to operate. An enterprise also needs repeat customers and referrals to balance out the high financial and effort costs necessary to keep attracting new ones. Therefore, a business needs a variety of strategies to keep, as well as find, buyers.
Trusts ad size and placement to do the work Industry statistics show that larger ads and those toward the front of the category get more calls. But that over simplifies what makes people choose a particular ad. If an ad doesn't fit the reader's preferences or match what they're looking for, it will be passed by (whatever its size).
Looks like the rest Too bad if your ad doesn't capture the eye in the two seconds it passed by - then landed somewhere else. That's all the attention most ads get. Look-alike ads were probably done for free by directory employees. They follow standardized guidelines and templates without much variation. And they don't have a clue about what's special about your operation. That's not the best way to go.
Fails to track the calls so you know why people call No getting around it, if you don't keep track of customers you can't tell how they find you. Or what's working (or not). Logging the source of new business shows how much credit to give to the Yellow Pages (or other marketing efforts).
Callers can't get information they want That ad did its job fine. But the customer still got away because the call wasn't answered or desired information wasn't forthcoming. Fielding calls effectively is crucial because unsatisfied callers just call the next ad. Develop a strategy that covers all your bases An attention-grabbing Yellow Page ad doesn't just happen. The business needs to back it up with additional promotion to get more than their share of calls. But when the directory works together with other marketing effort, they all do better.
©2004, Lynella Grant
Telemarketers Dont Like Them? Heres An Idea For Ya!
Telemarketers... ooohhh... I'll bet we've all got a nice story to tell about these guys & gals don't we?
|
