If you do not have lot of experience with marketing, I would advise someone to help you who has experience and he can write the marketing plan for you but there is a hitch in it, It will cost you money if you are just staring out. It’s always better to create your own marketing plan rather than tossing aside the idea of not creating at all. Marketing plan is the much needed oil for any organization. Making good marketing plan was considered to be a tough task, until fairly recently, what was the purview of just the bigger companies is now possible for most.
Let me give you some insights into how a basic level marketing plan is developed.
7 Easy Steps For Making Effective Marketing Plan:-
1. Determine And Finalizing What You Going To Serve And To Whom – Determining Your Target Market
2. Determining Your Positioning For Your Product
3. Develop The Product Plan
4. Develop And Build Your Pricing Plan
5. Develop Your Distribution And Logistics Plan
6. Develop Your Offline & Online Promotional Plan
7. Determine And Chalk Out Your Marketing Budget
Product Finalization And Identifying Target Market For Your Marketing Plan
Coming to specifies, on what you going to sell and push in the market – make sure whatever you wish or plan to sell actually solve a real and genuine problem for the audience you want to sell to. Talk, communicate and engage with your audiences to know their pain areas. When you embark on this journey, try to take feedback from with the whole, rather than the subset. Avoid relying just on samples to determine the shape and form of the final product, as, often, the really interesting things in market are found that samples fails to catch.
A small insight: – Do not treat difficulty of interacting with all your customers as an unfortunate reality, rather see it for what it is a “necessary evil”. It is the backbone of measurement of the target at scale.
For your positioning make sure you communicate the USP, the point of difference and ensure it is included in your positioning that will attracts customers/buyers to your product. Use effective and low cost marketing methods like digital marketing, social media to reach the masses. Generate awareness through word – of – mouth and social interactions as part of “Connected Marketing” to reach to the desired target audience.
Third, for your product plan make sure you survey the customer prospects to see what they want. Do ensure the customer survey is comprehensive and sufficient. The golden rule while doing survey is even if you have too much data then also “good enough” is not good enough. Also study your competitors to see what they doing, what’s working and what may be the strength and weakness of their product and also why customers are frustrated with existing product in the market. It is also sometimes termed as gathering “Competitive Intelligence”.
“Doing so, is feasible, because success in business and in the product is in working with customers and not against them.”
Fourth, when you put together your financial or pricing plan ensure you are again looking at what your competitors are doing and analyzing what opportunities are working best for them and also ensuring that you price your product on the value (value based pricing) and not just on cost. Set the price of your product or the service offered on the tangible and intangible benefits it provides to the end consumer rather than fixing the price on the amount of money it takes to produce the product.
Preparing Distribution Plan
Fifth, for the distribution plan again you may like to look at what’s making sense for similar products in the market, contact the competitors and find how are competitors are doing, find out the latest trend and you may also like to think about how your customers may like to buy for you, where do they want to buy and create a distribution plan around that in order to satisfy your customer wants.
Developing Promotional Plan
Sixth, in your promotional plan make sure you know whom you are trying to target and what content is the most effective and ultimate message to communicate to the target audience. Next do take a quick look what methods your competitors are using and what methods have worked best for them and take a look at what promotional activities you have used in the past that has worked best for you, then use this information to select which promotional methods are going to work best to communicate the message you want to the target that you are targeting. In addition you want to use specialized consulting services to create a plan specifically to maximize the amount of referral you going to get as referrals are the number one source of new customers for the business.
Determining ROI For Each Promotional Idea
Finally list down all the sales, marketing, promotional and advertising ideas, for your consumer products that you had and take a look at some of the matrix to see which are going to be most profitable. To do this take a look at the impressions that the marketing method will deliver. The estimated conversion rate will able to give you estimated ROI and also they take a look at the time, how much time it’s going to take to implement those marketing materials and see which one’s appear to be the best options for your business.
The above mentioned 7 best practices of integrated marketing can be your most valuable tools while preparing your powerful marketing plan. Simply put, poorly – prepared guys always finish last. Do not fall trap of procrastination. Do IT NOW. You need to escape from it and use the above tips to make an impact to your business. As you make your way to make a marketing plan, you may grope in dark and may stumble. Use the above tips as landmarks and make your way to great leadership.