No matter how passionate you are about your business, one of your top goals is definitely to make a profit. To do this, you have to identify the people who need your products and sell to them. This is where marketing comes in. Essentially, a killer marketing plan is one that helps you convert members of the public into paying customers. Typically, your marketing plan should encompass the following- what you sell, who you’re selling to, and how you communicate with them. Here are 8 things that your marketing plan needs to help you make those sales, and keep your business profitable.
- Validate the market – Before you start selling your product, make sure there is a need for it. You need to be sure that you have a great product that will be of value to your customer. In other words, you should know if there’s a need for your product/service. Here are a few questions that can help you figure this out:
- How large is the market?
- How many businesses currently provide similar services?
- How many customers are there?
- How often do people buy your type of product?
The answers to these questions will help you know if you (a) have a sustainable business, and (b) help you create the perfect marketing plan.
- Define your target market – Begin by asking the question, who do I want to sell my products to? You need to narrowly define your target market and then create a marketing plan to suit these particular set of people. For example, if you run a laundry business, your target market could be busy professionals who are too busy to do their own laundry. You offer pickup and drop off services and then charge them for the service. If your target market is too broad, it becomes really difficult to market because you’d be trying to please everyone. Analyse the characteristics of your target market carefully. Figure out their age, income, occupation, location etc. Improve your product/service to suit them perfectly and then market it to them.
- Identify your unique selling point – What makes your business stand out? Figure out what it is that makes you better than your competition, and then figure out how to explain the product/service in a way that illustrates value to the customer. When you show a prospective customer that you can help them achieve a goal, it becomes easier to sell your product or service. So, make sure you always highlight what your customers stand to gain from your business.
- Write down your marketing goals – What are the things you’re trying to achieve with your marketing plan? For example, are you hoping for a 30% increase in sales or an additional 10,000 followers on Instagram? Write down your goals. Make sure you apply the SMART (Specific Goal, Measurable, Achievable, Realistic & Timely) principle, so they’re easy to track and you know when you’ve achieved them.
- Develop your marketing communications strategies and tactics – This is an integral part of your marketing strategy. You need to craft the perfect message that tells prospective customers what your business is about and how it adds value to them. You also need to figure out how to distribute this message properly and via the appropriate channels.
- Set your marketing budget – Marketing is absolutely essential to the success of your business, and great marketing is not free. You need to create a marketing budget and ensure that you’re spending your money in a way that’s going to help you drive conversions. Before you go all out, make sure you test different marketing methods and see what works best. This will help you apportion your money appropriately. Don’t worry if you can’t afford some expensive tactics yet. Remember that marketing is a constant activity, and as your business grows, you’d be able to do more.
- Define your marketing methods – How do you plan to reach prospective customers? Will you advertise, use Internet marketing, direct marketing, or traditional media? Depending on your target audience, you will need to pick the best marketing methods to explain, teach, promote how your product or service stands out above other competitors.
- Constantly revise your marketing plan – You should revisit your marketing plan at least once every quarter. Are you on target? Do you need to revise it? Even though your marketing plan will help you visualize a clear path to success, the circumstances of your business can change at any time and make your plan obsolete or outdated. So don’t be afraid to constantly review.
Following these tips will help you create an amazing blueprint that will help you reach your business goals. Collaboration is great! So if you need anybody to help you bring your strategy to life and help you get results faster, just contact us at Atlas Creative Consultancy. We specialize in telling the story of your brand in ways that will make you irresistible to your prospective customers.