Smart business owners realize the importance of a business plan in directing their company to success. One critical part of that plan is the marketing strategy.
Since the marketing strategy is covered under the umbrella of the bigger business plan, some business owners fail to give marketing the attention it rightly deserves. If your marketing strategy is perfectly laid out, it reveals opportunities for new product lines, audience, pitfalls in price, potential reach and competition reaction. You’ll miss out on all the profits if you fail to develop an effective marketing plan.
A marketing plan clearly describes your customers, how you can reach them and what kind of information they’re looking for. We’ve provided you with the most important things to focus on when developing your own successful marketing plan:
Before beginning your marketing plan, you must first have a clear understanding of your niche- the demographics you are targeting. Without understanding your audience, you can never market your services and products to them in an effective manner. Study the group of individuals who would benefit most from your services and figure out how best to attract them.
Determine the crucial needs that would be met by your services. Is it going to help your clients do their work better? Help them be admired and respected by industry peers? What you’re offering should meet the needs of your consumers or solve problems of clients in a better way than your competitors.
Even though you may think that your services are “unique”, there is always going to be competition targeting your client’s dollars. Not only do small business owners neglect to study competitors within their industry or niche but they tend to completely forget about the competition outside their niche who are more than capable of luring their potential clients away. Knowing who your competitors are, what they offer and how they respond to changing market situations will help you come up with strategies to beat them and reign supreme.
You know the old saying, “you only have one chance to make a first impression”. This is especially true when it comes to marketing. You only get one chance to make an impression on your audience and turn them into potential clients; you can’t afford to mess it up! Whenever you market your services or products, pay close attention to the design. Logos, taglines and other content you use for marketing should be designed to appeal to your audience and capture their attention.
All of your marketing efforts will be in vain if you don’t follow-up! We cannot stress how important this component is to your overall marketing strategy. Check all your platforms to make sure they reflect the right message to your audience. Look for any shortcomings in your strategy and move to resolve them.
If your marketing plan doesn’t work initially, don’t falter thinking you’re not doing it right. Remember, a tree takes time to mature and produce fruit; similarly, your marketing plan will take time to produce results. Give yourself a real-life deadline of a year and then review and see where you can improve- but don’t give up! You will get your “YES!”
Lindsay has been with Agency Access for four years. After a transition from Campaign Manager where she managed multiple client campaigns, she found her home as Marketing Manager. She enjoys working in the creative world and bringing her Public Relations background to the forefront.
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