How To Create A Marketing Plan For A Small Business

How To Create A Marketing Plan For A Small Business-84
In this article I review how to write a marketing plan and break it down into 7 easy steps. Create Your Marketing Budget Click the play button above to learn how to create a marketing plan in 7 easy steps.I also provide some tips for each of the 7 steps that will increase the effectiveness of your marketing plan. For a more detailed listing of items you should have in a marketing plan I also have a video on the components of a marketing plan on Youtube.

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Let’s look at what is included in a marketing plan, and the steps needed to create a great one.

A small business marketing plan can be as robust or as lean as you want.

You can be assured they will use a combination of all of the above once you flip over your open sign. Draft Your Brand Positioning Statement You need a clear idea of what sets your company apart because that is what will bring customers through your doors.

You can use the information you uncovered in step three to guide you, but these positioning statements should be single-minded and focused. Situation Analysis This is an overview of your company’s current state.

At the minimum, it should include a description of who your customers are, how they get information and where you can reach them.

To start this process, complete these four steps first. Determine Why a Customer Would Come to You This means more than just restating your product’s or business’ mission statement.Start creating a plan today, to get the marketing of your business moving in the right direction.Get our free marketing plan template nowbecause having a marketing plan is critical to your success. Determine What Your Are Going To Sell And To Who (Your Target Market) - get a clear understanding of what you want to sell and what problem your product or service will solve for your customers - if your product or service does not solve a problem you will have a hard time selling it 2.Also take some time to analyze how they might react to your business.Are they prone to discounting, aggressive advertising or special offers?You should know and understand why a customer would choose you over a competitor. Identify Your Target Customers Target customers are different than your target market, and you should really know both.Your target market refers to the area (geographic or otherwise) that you will serve, while your target customers are the people who are most likely to purchase your product.You want to clearly define the purpose behind a customer choosing you over a competitor.Is using your product or service related to social status, everyday living, convenience or something else?Psychographic data measures audience behavior (i.e. healthy, active), social class, activities and hobbies, values, attitudes and personality. Identify the Competitors That Target Your Customers The most important competitors you’ll face are the ones who are directly targeting your ideal consumer.Conduct an honest assessment of your competitors and what they have to offer that you don’t.

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