USA
Have you ever thought or said these words in regard to marketing? “My location will draw customers.” “Everybody knows about my company/organization, we’ve been around for 20 years.” “ What’s a marketing plan?” If you are in business to increase floor traffic, sales and revenue, you need a marketing plan.
I’ve seen good businesses with passionate owners fail because they lacked vision on how to market their product or service. Marketing plans don’t need to be complicated or expensive. Know your anticipated goals, your audience, your competitors, your budget, your market, and you can begin.
Define your goals. You want to increase sales. Great, what does that mean? Do you want current customers to spend more? Do you want to attract new customers? Do you want to attract a different demographic? Do you want to introduce a new product or service? Be clear on what you want to achieve; only then will you be able to accurately describe your target market, create an effective message, as well as obtain measurable results. Measurement? Oh yes, without measurement how will you know if your plan was successful?
Know your target market. Really define who that is…gender, median age, median income, marital status, education level, location, spending habits, and media habits. “Everyone is a customer” is not a realistic definition. Having a clear picture of your current or potential customer will direct you to the best way to communicate a message.
Analyze the Competition. Research your market and learn about the competition. What are their strengths? How are they weak? Is there a niche that can be filled? Who has failed in the past and why? What competitors have thrived?
Have a budget. Dedicate a reasonable amount of money to marketing and advertising. Plan on how that money will be spent. Again, plan on how that money will be spent. Knowing your audience and then choosing a way to reach that audience frequently and effectively will enhance even the smallest budget. Randomly “testing” advertising is a sure fire way to fail and waste money.
Tailor your message. Create an effective call to action message and make sure the message tells your customer how this product or service will benefit them. A laundry list of “fluff” will blow even the best marketing plan. Create a message that illustrates how your product or service will benefit your audience, not benefit you. Keep the message client focused.
Choose your Medium. I often meet with clients that are overwhelmed with the number of ways they can reach their audience. They can’t decide between, print, radio, TV, store signage, website design, diner placemats, etc. Well, you get the idea. The fact of the matter is, once you have clearly defined your audience, choosing a medium gets easier. Is your customer into social networking, do they read the paper daily, do they listen to oldies? Define your audience and choosing your medium is easy. Once again, have a great message. You want to talk to your customer and have them take action.
Measure your results. Think of this whole plan as a circle. Once you know what works you can do it again. Measuring results against goals allows you to know what was effective, what failed, and what needs a little adjusting.
To have a successful marketing plan you need some time, insight and planning. Once that is in place, kid, you’ll move mountains. Green ones I hope!