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How To Make Sure You Have An Effective Marketing Plan

May 19, 2014

Looking to create an effective Marketing Plan? Make sure you cover these areas!

  • Executive Summary: An overview of your entire plan and a quick summary of what is to come in your Marketing Plan. This part is usually done last.
  • Marketing Strategy: Decide what your marketing goals are and how, when, where, and why you are going to reach them in this section.
  • Target Customers: This section is where you will clearly identify who your customers will be, demographics, their income, and other general information that can help you understand their needs
  • Unique Selling Position (USP): What makes you stand out from your competition? Why should potential customers buy from you and not your competitors? Once you identify your USP, make sure to reinforce it all times when promoting your business.
  • Pricing: Making sure that you are fairly priced within your market, not too low or high so that you are in aligned in the position you want to be. : Give thought to how you can increase your transaction sales. Should you increase prices or try selling bundles?
  • Distribution Plan: How will you be selling your product or service? Outline if you are online based, a retailer, sell directly and so forth.
  • Promotions Strategy: In this section you will need to elaborate on how exactly you will promote your products or services to your target customer. By reviewing past successes and failures, you can determine which is useful and which is less effective
  • Online Marketing Strategy: The world has become extremely digital, so in order to stay ahead of the game you must be sure to advertise where people are looking. Have your website optimized, use keywords and ensure that you have a good social media presence. It is not just social media, it is also reputation management
  • Marketing Materials: What materials will you use to get the word out about your business or campaign? Be sure to account for business cards, flyers, banners, etc.
  • Conversion Strategy: What exactly will be your strategy to convert leads into sales? This section is dedicated to talking about how you will need to pitch your business in order to heighten sales
  • Joint Ventures and Partnerships: By cultivating relationships with other companies you will allow yourself a bigger reach. Elaborate more on how you will team up with establishments to grow your business
  • Referrals: Referrals are wonderful. By coming up with a strategy to draw in referrals your company can experience constant growth. Establish what incentives you will offer
  • Retention Strategy: You want to keep the customers you have so by offering discounts, free beneficial information etc. you can keep customers coming back.
  • Financial Projection: This is more of a ‘goal’ oriented section. Include your expenses, sales and profits so you can analyze and keep on track with your company’s growth
  • Analytics: Without tracking your results, you will not be able to determine how successful you truly were when it comes to hitting the goals you set in your marketing strategy. Be sure to put benchmarks in place and review your results regularly.

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