These days, no business can afford to trade without a marketing
plan and business plan. This applies to all types of businesses, large or
small, online or bricks and mortar. This vital service is offered by all online
marketing agencies that recognize the importance of this for any business.
A marketing plan is a document that outlines well-organized course of action(s) to achieve your marketing objectives. Think of it this way, your marketing plan will be your marketing guidebook or rather your reference point for all your marketing activities. It details your marketing budget, target market, the proper media or channel to be chosen, etc.
In addition, a business plan provides you with an in-depth perspective of your industry and your business and gives you insight on developing targeted market strategies while also serving as a barometer of your performance. Moreover, a business plan allows you to examine and re-examine your marketing objectives and provides the basis for your marketing decisions.
Creating a solid marketing plan can be the difference between a successful marketing campaign and a failed one. As most people have already experienced, marketing can be an expensive and complicated endeavor. A business plan will help you determine your marketing strategy by specifying your objectives, defining your goals, and targeting your market in an effective, time and cost-efficient manner. This business or marketing plan enables you to reach new audiences, raise awareness of your brand and sell your products or services. And yet there are still some businesses that don’t have a marketing plan and wonder why they are failing to attract customers.
Items or Ideas a marketing plan may include:
There are several which include:
• Access to a global market which means reaching out to new customers, globally or expanding the business/markets.
• Usingnew methods (or channels) to reach different types of customers.
• Targetingor launching your products or services to a new groups of customers, e.g. market segmentation.
• Using social media to raise your online profile, target new customers and build your reputation.
The end result can be an increase in customers or web traffic if you trade online, which leads to increased sales. This provides a very good return on your investment (ROI) as well as boosting your bottom line.
Stages of a marketing plan
A marketing plan consists of a series of stages which are reviewed at intervals. These stages include:
• Customer research: identifying your target audience before dividing them into groups – if applicable. Once you know who your customers are, you can target your plan to them.
• Competitor analysis: learn more about your competitors. Study their strengths and weaknesses. How do you stand out from the rest?
• Define your goals and objective: every business has a set of goals which typically include building your brand identity, generating new leads, retain existing customers and establishing your position in the marketplace.
• Develop a strategy: work with an experienced online marketing professional to develop an individual plan. Think about which marketing methods are appropriate for your business and how these will be measured. Set a timescale.
• Set a budget: cost is always a factor. Many businesses avoid marketing due to the cost but it is possible to market your business on a budget.
A marketing plan is a document that outlines well-organized course of action(s) to achieve your marketing objectives. Think of it this way, your marketing plan will be your marketing guidebook or rather your reference point for all your marketing activities. It details your marketing budget, target market, the proper media or channel to be chosen, etc.
In addition, a business plan provides you with an in-depth perspective of your industry and your business and gives you insight on developing targeted market strategies while also serving as a barometer of your performance. Moreover, a business plan allows you to examine and re-examine your marketing objectives and provides the basis for your marketing decisions.
Creating a solid marketing plan can be the difference between a successful marketing campaign and a failed one. As most people have already experienced, marketing can be an expensive and complicated endeavor. A business plan will help you determine your marketing strategy by specifying your objectives, defining your goals, and targeting your market in an effective, time and cost-efficient manner. This business or marketing plan enables you to reach new audiences, raise awareness of your brand and sell your products or services. And yet there are still some businesses that don’t have a marketing plan and wonder why they are failing to attract customers.
Items or Ideas a marketing plan may include:
There are several which include:
• Access to a global market which means reaching out to new customers, globally or expanding the business/markets.
• Usingnew methods (or channels) to reach different types of customers.
• Targetingor launching your products or services to a new groups of customers, e.g. market segmentation.
• Using social media to raise your online profile, target new customers and build your reputation.
The end result can be an increase in customers or web traffic if you trade online, which leads to increased sales. This provides a very good return on your investment (ROI) as well as boosting your bottom line.
Stages of a marketing plan
A marketing plan consists of a series of stages which are reviewed at intervals. These stages include:
• Customer research: identifying your target audience before dividing them into groups – if applicable. Once you know who your customers are, you can target your plan to them.
• Competitor analysis: learn more about your competitors. Study their strengths and weaknesses. How do you stand out from the rest?
• Define your goals and objective: every business has a set of goals which typically include building your brand identity, generating new leads, retain existing customers and establishing your position in the marketplace.
• Develop a strategy: work with an experienced online marketing professional to develop an individual plan. Think about which marketing methods are appropriate for your business and how these will be measured. Set a timescale.
• Set a budget: cost is always a factor. Many businesses avoid marketing due to the cost but it is possible to market your business on a budget.
