14 Nov The Importance of a Marketing Plan
Marketing Plans for Small Businesses
Everything in your business can be done better if a good and solid plan is put in place, and this will most definitely include marketing.
As far as small business marketing is concerned, there are many vital ideas that you have to include. It will be important to refer to these every month and see to it that you mark every sale made to easily track the progress that you are making in your plan.
A good small business marketing plan should typically cover a year since your business will always experience constant change, whether it is because of your employees, your customers or the economy in general.
A majority of the plan must put emphasis on the existing year and the things that you plan to accomplish. However, it will also be a good idea to include several goals that you want to achieve in the next 2 to 4 years as well. In small business marketing, the planning part is probably the most complex but executing the plan will present major difficulties, without an easy to follow and precise plan to follow.
Small business owners also need to make sure that the marketing plan will be seen by everyone involved so that feedback can be given and further enhancements and improvements can be made. This part is crucial because for the marketing plan to be put into action, you will need all departments of the business to be involved. Asking for feedback and suggestions can help in creating a better-rounded plan.
Another reason you need to make the marketing plan known to everyone in the business is so that you can rally your company and make everyone feel involved. If you want your employees to give their commitment to your company, you have to make sure that they are involved in your vision of the business in the next few years.
So, what are the things that you need to include in your small business marketing plan?
- Target Market – This will include demographics, location, age, sex and ethnic groups.
- Goals – These are the things that you would to accomplish for a year or the next several years.
- Niche Trends – This will reflect the standing of your industry in your chosen niche.
- How to Accomplish – It will include the strategies that you plan to follow to achieve your goals technically and financially.
- Monthly Strategies – These are the tactics that you will use monthly to achieve the goals you presented.
- – Knowing your competitors is important but it will be best if you only include the top 2 or 3 competitors and how you plan to stay ahead of them.
- Budget – This will state how all of the things mentioned above fit into your budget.
Having a solid and realistic small business marketing plan in place can be an assurance that your business will not simply go with the flow and instead, establish its own strong name and become the leader in your community.