Would you like to start or grow your small business? Reach new customers? Or regain contact with existing customers? Then you should consider putting together a marketing plan to guide your strategy!
However, that’s easier said than done and there are lots of things to consider before you start. To help you, we’ve put together ten points to think about before you create your marketing plan:
1. Business Objectives
It goes without saying that before you write your marketing plan you need to write an overall business plan. Your marketing plan should help you to achieve your business objectives.
2. Mission Statement
You will benefit from a mission statement to illustrate what you are trying to accomplish from your business. Not only will this guide your business journey, but it will guide the messages used throughout your marketing.
3. Who’s Your Target Market?
You need a clear idea of who you will be trying to reach with your marketing activities. It may be helpful to construct buyer personas and profiles to reinforce and remind you of who they are.
4. How will you reach your target market?
Which channels are the most suitable to reach your target market? From social media to print advertising, it’s important to consider where your target market spends their time and will notice you. It will be helpful to do some research to find out the answers.
5. Competitor Analysis
Take a look at your primary competitors and the marketing channels they’re using. Is there anything you can learn from their strategy?
6. What makes your business unique?
Having analysed your competitors, it’s important to consider your unique selling points (USPs) to stand out in the marketplace. Why should your customers shop with you instead of anyone else in the market? What makes you different to your competitors?
7. Pricing Strategy
As part of your competitor analysis, you will also want to look at what your competitors are charging for similar products or services. With this in mind, it’s important to consider what you will charge and why.
8. How much money will you spend, and on what?
It’s important to have marketing budgets in place before you start spending. Don’t rush into spending money on the latest, flashiest thing – a rooky mistake made by many start-up businesses is jumping into spending money on marketing they don’t fully understand.
When you’re first starting out it’s important to select few channels, relevant to your target market, and do them well in order to see a return on investment (ROI).
9. How will you measure the success?
There’s no point in carrying out marketing activity if you don’t measure and assess your efforts along the way. Start to consider how you will construct a measurement plan, including Key Performance Indicators (KPIs), to judge your success.
Need some extra help creating your making plan?
Struggling with your marketing strategy? If your business is located in the Black Country, Shropshire or Herefordshire, why not join the Enterprise Action project and attend one of our free business workshops? We host business development workshops to help you create your marketing strategy by getting your business ready for growth, helping you audit your business and plan.