What should you include while devising your marketing plan?

When it comes time to formulate a plan to work from I hope you will find this list helpful. As you form and organize your own concepts, feel free to stray from it based on your own needs. Ultimately, this list is meant as a starting point to a healthy plan. Lets begin.

The following is what a good marketing plan should always have.

  • List of your strengths and weaknesses
  • Realistic goals you want to achieve
  • The needs you have identified
  • Which customers you have identified as most profitable
  • How you plan to target specific groups you have identified
  • Identify the best methods of communication for your situation
  • Be able to state how you will target the right people
  • Can you improve the service you provide? Better more personalized service is a competitive edge.
  • Identify the best way to distribute or sell the products I have available
  • Identify changes in the marketplace if they are occurring
  • If there are changes that you can make in your product that would improve its profitability or competitive appeal list those
  • Look for ways to offer the customers you have other products. The best customer is the one you already have.
  • Price your products competitively but remember not to sacrifice other things your customers are searching for. Remember, not to sacrifice one appeal for another. Consider pricing a part of advertising. Pricing is a feature and every feature is a talking point.
  • Determine the best methods to place your name in front of possible clients. Examples include outbound marketing such as sales calls, advertisement, trade fairs or inbound such as content marketing, eBooks, videos, content meant to provide a service or entertain that also ads legitimacy or gets your name out there.
  • Finally, be sure to include how you intend to keep track of your success. How will you know if your hard work is working? How will you keep an eye on the marketplace if it change? Maybe an outreach program? Surveys? Small trial?

Tips and pitfalls

Before looking at new markets, think about how you can get the most out of your existing customer base – it’s usually more economical and quicker than finding new customers.

Consider whether you can sell more to your existing customers or look at ways of improving the retention of key customers.

Last but not least REMEMBER to focus on the task at hand. Focus on the customers, the marketplace and the part of your customers that provide the most revenue. Don’t fall victim to overly focusing all your energy on the majority. Sometimes the highest spenders only make up a small percent.