Marketing Plan Key Points
Creating a marketing plan for your business is a prerequisite for any person conducting business. For whatever activity you do, you should base your marketing campaigns on a well laid out plan because it helps you to avoid losing track and running your business blindly. Have you ever created one?
Surprisingly, not many small businesses in Uganda think about creating a marketing plan. They do things haphazardly and end up jumping from one failed marketing method to another. But if you are a success-conscious business person, you need to have a WRITTEN MARKETING PLAN to avoid doing things in the wrong way.
How Do You Create an Effective Marketing Plan?
In this blog post, I want to share with you nine steps for creating a successful marketing plan.
First, Understand the Different Marketing and Advertising Techniques
To develop a successful plan, read to understand the various marketing and advertising methods. If you are new in business, then you need, most importantly, to equip yourself with some knowledge of marketing before you create your marketing plan.
Secondly, Understand Your Market and Competition
To create a fruitful plan, you need first to find out about where the market is, what happens in it, and its trends.
Additionally, get information on your business competitors by finding out who they are, what they sell, and how they sell it. Discover what their marketing methods are and what makes them stand out. Get to know what their websites are, what their weaknesses are, and what they don’t offer that you could offer. You can quickly get this information by searching on the internet.
Thirdly, Understand Your Targeted Customers Properly
You should know who these customers are, how and when they buy, what their problems are, and which solutions they are searching for. Understand how they respond, what they purchase, what they say, and what needs to fill the gap.
Fourthly, Discover Your Business Position
Find out more about the product you plan to sell or promote and how you will position your business. Understand what your strengths and weaknesses are, your field of business and expertise, the lives and challenges of your customers and the different niche groups in your line of business.
Fifthly, Create Your Promotional Messages
A successful plan must comprise of in-depth information on what your brand is, what your unique selling point, strap-line and marketing slogans will be. Remember that your messages have to cause the action to take. It’s a reason why you have to develop them carefully and strategically.
Sixthly, Set Your Marketing Goals
A successful plan spells out the vision for your business, what you want to achieve, your specific achievable goals and your priorities. You have to state your goals clearly. They should not only be SMART but also SMARTER (specific, measurable, attainable, realistic, time-bound, extended and rewarding).
Then Determine Your Marketing Techniques
Understand the marketing methods competitors use. Know what works for you best based on your knowledge, strengths, skills, ability and weaknesses. Focus on how you’ll get new customers and maintain old ones as well.
Additionally, Develop Your Budget
When making your budget, base on the marketing techniques you have selected to determine the total cost of your marketing campaigns, the resources you need to invest in your marketing and what your return on investment will be. Having a marketing budget is so important.
Last But Not least, Map Your Marketing Strategy
Creating a successful marketing plan necessitates you to focus on how you will progress in every aspect of your marketing plan. You have to focus on what you need to set up your business, the steps and the practical actions you have to take. Project your anticipated hindrances, deadlines, and how you will track, evaluate and review your strategy.
Conclusion
Having a marketing plan is a crucial ingredient to your success. Always have it written down. Make it as straightforward as you can. Your marketing plan works as your guide. It’s, therefore, your commitment that helps you to walk your road to success systematically. If you’ve been doing things haphazardly, it’s high time you created a marketing plan for your business. Why? Because success depends mostly on proper planning.
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