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After all, stuff like airplane banners are great, but not if they sink your whole marketing budget.Ask yourself, what's the best way to get your message in front of your target market?Look at recent financial reports, current and past sales numbers and your product and services list.
This should help you answer questions like: If you did any research when you developed your business plan, you may already have this information.
If not, talk to your salespeople and your customer service staff.
Once you've gathered market research, it's time to prepare your Market Overview section. What strategies are they using and how are they positioning themselves in the market? What kind of an impact do they have on your business? Now that you've described your current market situation and analyzed how various aspects of it affect your business, it's time to set your marketing objectives. Think of your marketing objectives as answering the crucial questions: What is my plan going to accomplish? Some examples of common marketing objectives include: It's a good idea to make each objective conform to the SMART goal criteria.
Begin this section with a description of your market as it currently stands. Include details about sales, prices and gross margins. SMART = Specific, Measurable, Attainable, Relevant and Timely. To align both you need clear, measurable objectives.
Some common promotion strategies include: Now is a good time to get creative!
At the same time, make sure you watch costs and check that the strategies you embrace are measurable.
Without one, you are operating by "seeing what sticks"—not the optimal way to market your business.
A marketing plan is much more than just another boring business document, it's your map to revenue, growth, and longevity.
The marketing plan is a powerful tool that belongs in your small business arsenal.
If you've been making do without a plan so far, or using a "play it by ear" approach, you're missing out on boosted revenue. A plan focuses your best efforts on activities that move your business forward.