Every company needs a marketing plan. It does not matter if it is a one-man company with only one employee or a company with thousands of employees in different countries. Marketing leads to sales. Without marketing, companies do not have enough income to stay open in the long term. Despite the importance of these documents there are still many business owners who do not devote enough time and resources to them. A good leader takes the time to review and develop this document frequently.
Marketing leads to sales.
Objectives of the Marketing Plan
The purpose of the marketing plan is to decide how you will sell your products or services to the consumer. Rather than assuming that your product is perfect for everyone, the plan focuses on key people who are likely to buy the product. For some SMEs the marketing plan may be based on referrals, i.e. offering the best possible service for customers to comment on to other people.
While this is a fairly common strategy, it is rarely enough for a business to be sustainable over time. Entrepreneurs should ask themselves two essential questions when starting to develop a business:
– What problem will I solve for my customers?
– What sets me apart from the competition?
The Importance of a Marketing Plan
Marketing plans and strategies are important because they facilitate sales for any business. When a persona is strategically defined marketing costs are reduced and the likelihood of conversion to sale increases.
Many businesses start by advertising in local newspapers when they are first starting out. However, businesses don’t have the necessary tools to keep track of who reads the newspaper. This means that most ads in newspapers, magazines or by post are generic branding offers in most cases and are not targeted ads. Consumers rarely make decisions based on generic ads, so this expensive approach should only be used to build a brand. But an ad that solves a specific problem helps consumers who are already in the market looking realize that the company has the solution.
Developing a Marketing Strategy
When creating a marketing strategy you’ll want to create an “ah-ah” moment in the consumer’s mind. These are the moments when the consumer realises that the company has the solution to their problems.
When consumers know what they are looking for and this solution appears in front of them, they are more likely to buy it. If the individual does not know they have a problem, then they need more time to understand why they need your services. You are less likely to be able to sell if the consumer does not feel an extreme need or desire.
If you want a targeted marketing strategy that focuses on “ah-ah” and “wow” moments schedule a meeting.