Tips for creating a Marketing Plan

11 11 2009

A lot of people struggle with what to write on a marketing plan, or even where to start, which is why I wrote this post. It includes a few tips to help get you started on your marketing plan.

  1. Product/Service Definition – Describe your product in simple language, and outline the benefit the customer will receive
  2. Your Niche – Basically, a fancy way of saying your target audience. Do a bit of research on your competitors, and see what sort of customers they are getting. You then know who to aim your marketing at.
  3. Goals & Objectives – Set yourself an ambitious goal, but not too ambitious. Outline the sort of return you want on your marketing expenses.
  4. Do a bit of research into the industry you are entering into, and see what the average lead conversion rates are. This will help you to manage your finances a bit better, because you will know roughly what sort of return you can achieve.
  5. Who is the competition? Is it a large company, or a small company? Are they likely to be competitive, or leave you alone?
  6. Estimate a price for your product/service. Then, take your product/service to friends, family, or business associates, and ask them how much they would be willing to pay for it. Take this feedback and alter your price accordingly.
  7. Keep your budget in quarterly reports, rather than per annum, as this makes it easier to monitor performance throughout the year, and also means if a certain type of marketing isn’t working, you can stop it before it burns too much of a hole in your pocket.
  8. Research different types of marketing, related to your business. Maybe consider e-marketing? It’s virtually free and easy to manage.
  9. Stick to your marketing plan !!

Did you find this informative? Did it help you to start your plan? Let me know by leaving a comment. Speak next time!

Why not check out the Best Accountants in Sussex?Tax Accountant




Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: