A Marketing Plan to Ensure Success
Every good marketing strategy starts with a marketing plan. These can be anywhere from extensive (and expensive) to simple; the latter of which often proves to be the most powerful, surprisingly enough.
Regardless of scope, your marketing plan needs to be based on thorough, solid research, and must include realistically attainable – and measurable – outcomes.
Creating Your Marketing Plan
Here’s an overview of some components which will help you create an effective marketing plan:
:: Market Research
In order to effectively resonate with your consumer, you must collect, organize, and record information pertinent to your desired target market, including both the controllable and uncontrollable variables that influence this market. Here are a few critical questions to consider:
- Which market dynamics influence your market?
- Which customers will most benefit from your product or services?
- Who should you target?
- Which potential partners can help you reach your customers?
- What are the buying behaviors of your target market?
- Which product(s) or service(s) are already available for this market, and what approach can you take that will set you apart from the others?
- Which competitors offer similar services, and which of their marketing strategies appear to be the most successful?
- What are current sales in this industry, and who seems to be getting the greatest ‘slice’ of this pie?
- Are there any stumbling blocks you may encounter as you reach out to your market?
:: Target Market
Understand how your product / service fits into the market, and determine the following:
- who you want to reach
- why this is important
- how you will approach your marketing
The best strategy is to find a gap where there is customer demand, and how you can fill that demand in a way that your competitors currently are not meeting.
:: Product / Service
Envision your product, and how it relates to your target market:
- What does your market need?
- What do they currently use?
- What do they need above and beyond what’s currently available?
- What added value can you offer that can exceed customer expectations?
Consider your competition, and what makes you stand apart from the others. What are your competitors doing better, the same or worse than you, and where is there a gap that only your product or service can fill?
Regardless of your financial situation, a realistic marketing plan is one in which your strategies are commensurate with your budget. What strategies can your business afford? If your plan exceeds your means, you’re setting yourself up for failure before you even begin.
:: Marketing Materials
Budget permitting, choose from a few or all of these components to your Brand marketing and advertising:
- Company website
- Company logo
- Business cards
- Brochures / Media Kits
- Direct mail advertising
:: Pricing, Positioning and Branding
Using the information compiled during your research phase, establish formulas for the following:
- determining the price of your product or service
- where and how it will be positioned in the market
- how your brand can command the attention of your target consumer
:: Marketing Goals
Establish marketing goals that you can turn into actual numbers. For example, your goals might be to attract at least 10 new clients per month, or to increase your income by 25% this year. Your goals should include sales, profits and customer satisfaction criteria.
:: Monitor Your Results
ALWAYS evaluate and adjust; tweaking your marketing plan as you move forward with your marketing endeavors is not a sign of failure or lack of focus; it simply means you’re doing your homework, and going above and beyond to ensure that your product or service is the best it can be, and for the best intended market. There are several ways you can obtain valuable information about your market to achieve this goal, including surveys, online polls and interactive blogs.
When It’s Time to Implement Your Marketing Plan…
At PearTree Design, we take into consideration how important it is for your company to have a powerful and cohesive brand throughout your marketing materials. This is why our expert team creates your designs with the bigger picture in mind.
And to assist you with establishing your marketing brand, we offer a professionally designed money-saving branding package, which includes 3 design options for business card, letterhead and envelopes, using your existing logo – all for only $149! (Regular price: $495)