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A marketing plan is your roadmap for creating business revenue. It details the activities necessary to get the word out about your business, provides the tools you need to reach prospective customers, and helps you stay connected once you've built up your business. It may feel like a big task, but taking it step by step will help ensure you're focused in the right areas for revenue growth.
Who is Your Customer?
Identifying Your Target Market(s)
Start by identifying the various types of customers who will be interested in your business or who might recommend it to someone else. Are they wholesalers, retailers or end customers? And don't forget some of your best customers will come from those that may refer your business. Make a list of all of the potential targets for your product or service. Then rank those in order by those you believe have the greatest revenue potential. I'm not saying the others are not viable, but it is important to know where your bread and butter will be coming from, and target those customers first and foremost.
Making the Connection
Developing a Plan to Reach Your Prospects
Once you have your target market prioritized, consider HOW you are going to reach targets (Internet, advertising, mailings etc.). The best plan will include a variety of activities and timing. Furthermore, the type of customers your are targeting - say wholesalers but also end customers - will require different communication methods. Every business is unique so start thinking about how you can cast the largest net--that is, reaching multiple targets at the same time.
KNOW what your competition is doing and not doing. You can learn from them or perhaps exploit an opportunity that they have yet to discover. Knowing how they position themselves in the marketplace can help you determine your messaging to the world and better target your customers with the right marketing activities.
If You Had a Million Dollars
Setting Your Marketing Priorities and Budget
Now that you've identified the plethora of marketing activities available to you to reach your target markets, it's time for a reality check. EVERY ACTIVTY costs in some way, either your time or hard-earned dollars. Prioritize which activities are "doable" and "affordable". Split your list into must-dos and like-to-dos. Then begin researching and associating costs with each element of your plan. Focus clearly on those activities that will provide you the greatest reach to your target markets for the least amount of cost.
Timing is Everything
Setting Your Marketing Calendar
Setting a 3, 6 and 12 month plan for your marketing efforts is critical to keep your marketing efforts on track. You'll have a schedule for what activities need to be done each month. And remember to include planning time to complete each marketing task. If you plan to communicate news about an event you're holding in August, you'll most likely need the details of that event firmed up several months prior to the actual event.
Now That Business is Booming
Keeping Connected with Your Customers
Business is up and running; you're busy, busy, busy! So, how can you stay connected with previous clients and customers? Make it a habit to always get your clients' full mailing address, e-mail address and phone number. Create a database of information (birthdays, last purchase date, etc.)-- anything that will provide a reason to communicate with them on a consistent basis. The point is that you want a customer for LIFE. So building that database to stay connected is an important step in your marketing plan.
Getting Help
Finding the Right Resources
If your eyes are glazing over for the amount of work it takes to get your business out there, you are not alone! There are many companies and consultants out there who can tell you what and how to market your business (and even do it for you). If you choose to partner with a marketing resource, ensure they have your interests at heart. If you don't feel a connection with them, keep looking. Find someone who will work with your ideas and within the scope of your budget.
Mary Hickman Kruszewski, the founder of MHK Marketing Group, creates customized marketing solutions to help you grow your business. Now is the time to get your marketing efforts up and running! Contact Mary at info@mhksolutions.com for details or visit www.mhksolutions.com to learn more.
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