What is a marketing plan?
A marketing plan is a strategy to use when you would like to understand, define, and analyze your product, price, target market, people, and location. It is also a method to create a pattern or diagram on how you can achieve your forecasted sales and growth. Planning for your business is an advanced action on how you can utilize every single of your funds and resources. For example, how you will budget your funds for your digital marketing and traditional marketing to have a high ROI and who would be the right person to make content and tagline for your business.
How to make a marketing plan
It’s visualizing how your customers persistently patronize your product or service by understanding its specification, quality, and value. And segment your target customers who can afford your product or service, who want and need it, and who can give value by choosing the right location so you could have the right directions on what approaches and strategies you can use.
Here are the realistic steps on how to create a marketing plan. This can be applied to Digital and Traditional Marketing.
Steps on how to make a marketing plan:
Clear your mind and focus
Make your mind clear and focus before you create a marketing plan so that you would know what vision, mission, and objectives you want for your business and what your business needs for branding, advertisement, funds, etc.
Start to make a scratch about your business plan
Doing a scratch for your business is like finding a piece of a puzzle that you would like to build gradually, the exciting moment is to see the big picture which is your visualized plan. You need to figure out as well what kind of marketing you are going to use if it would be Digital Marketing or Traditional Marketing.
Digital Marketing is also known as online marketing. All your communications would be operated online such as Social Media, Email, Website, Search Engine Optimization, etc. While Traditional Marketing is more on offline communication such as Radio, TV Commercials, Tarpaulins, Posters, Brochures, Printed Coupons, etc.
Know about your product or service
As a business person, you should be the first genius person around your product or service. You need to identify your USP or Unique Selling Proposition to stand out in the market.
What is a Unique Selling Proposition? This is your uniqueness among your competitors even though you have the same product or service offering in the same location. Give your target market reasons why they should buy your product or service even though it is more expensive than your competitors. And while reading this, start to ask yourself. What’s yours and what’s your strength?
Know your target market
Segmenting your target market is the most important when you are selling a product or service because you should know who needs it, who wants it, who can buy and afford it. You should know their demographics, psychographics, geographics, and behavior graphics.
- Demographics refers to the target customer’s age, gender, and income or financial status.
- Psychographics refers to the target customer or audience’s attitudes, interests, lifestyles, and personality.
- Geographics refers to your target location that mostly affords and gives value to your product.
- Behaviorgraphics refers to your target’s behavior on how they will spend their money on a product or service. If they are impulsive buyers when seeing a poster of 50% off, buy 1 get 1, and New Arrival Items.
Know your competitors
Researching about your competitors is a big advantage you can do for your business in order to know your strengths and weaknesses and how you can catch your target audience’s attention and boost your sales. This can help your business as well to define your unique selling proposition and what is your uniqueness among your competitors. This is not a way to compare your business just to feel down, use this to take advantage of how you can compete with the noise in the market in order to get the conversion.
DO SWOT Analysis
Strength, Weakness, Opportunities, and Threats analysis are effective methods of assessment to know if your business has the power to compete with stabled competitors. Strengths and weaknesses are the things that you can control internally. While opportunities and threats are the things you can’t control externally. Once identified, this can be used as your reference on how you can execute strategies and plans.
Know your objectives
Creating objectives would be your system on how you can achieve your goals and it should be Specific, Measurable, Attainable, Realistic, and Timely. Knowing how you can build your Brand Equity such as brand awareness, brand image, brand loyalty, brand identity, and customer perception towards your brand, and boost your sales.
Finalize your brand positioning
Brand positioning is a method of assessing your brand to create a message and to shape your target market perception and belief. How to write a brand positioning statement? You need to identify your market differentiation which is your product’s uniqueness to build value to trigger your target customer’s behavior of being an impulsive buyer and they don’t care about the price anymore because the brand loyalty and image has been built as well, segmentation is sorting out your target market who can really afford and can appreciate the value of your products. And your message is a compelling story about your brand and product wherein your audiences can easily remember you.
Plan your campaigns
Once you identify your target market and where you can locate them, virtually or personally, start to plan your campaigns where you will advertise or promote your brand and products. Create your tagline and connect it to your branding or products. Make it short and simple so that they can easily understand and remember your message.
Start to plan if you need social media to locate your audiences or you need posters to hand over directly your message. Nowadays, social media are cost-effective channels to reach your target audience. Boosting campaigns or running ads on social media can be customized. You can also post promotions for brand awareness of your brand, product, and location anytime using your social media accounts for free.
Traditional marketing is effective if you already identified the location and needs of your possible prospects. For example, you are selling different kinds of meat at a wholesale price. You already know that restaurants are one of your prospects and you can directly give them a brochure that you can supply meats to them.
Strategies would be your technique on how you will meet your goals. You need to be creative and innovative in making what best strategy would work for your business, collaboration would be the best, and use your goals or objectives as a reference to strategize. Strategize on how you can create engagements, hook your audience’s attention, increase the number of your followers on social media, gain organic traffic for your website, and target audiences who understand your message.
Once your plan has been finalized, you can start to implement it and observe if it’s effective or not. You can give time to every plan you are implementing to assess it properly, it can be monthly or quarterly. If it’s not effective, don’t lose hope. Strategizing is trial and error until you can find the best one. It’s normal that there’s a plan that won’t work today but tomorrow it will. You need to depend as well on what’s trending right now and take advantage to catch your audiences & attention. Learn to define the problem, analyze the process and create improvements.
Why marketing plan is important
Doing a plan for your business is forming a step at a time on how your business reaches your desired goals and how you can compete in the market to boost your sales. Building a future for your business is a big role as a business owner or entrepreneur and it’s something like.
This is also your pattern on how you can build your brand positioning or unique selling proposition by defining your target market.
Gobro Web Services can create a marketing plan for your business and help to strategize to increase the conversion or where you are struggling with gaining traffic for your website, branding, logo, content and copywriting. We will help you to define your target audience and where is their location in order to know where you should spend your efforts in advertising your brand and products. We can also help you to create your tagline and branding so that they can easily remember you. If you are struggling with anything mentioned above, feel free to fill up this form.