By On Jul 31, 2019 Templates
A strong customer referral program could revolutionize your success. For example, if every one of your customers referred one new customer, your customer base would constantly grow. However, rarely will you get such growth unless you have a formalized referral strategy. For example, you need to determine when you will ask customers for referrals, what if anything you will give them as a reward, etc. Think through the best referral strategy for your organization and document it. While your primary goal when conversing with prospective customers is often to secure the sale, it is also important to pay attention to the transaction price. The transaction price, or amount customers pay when they buy from you, can dictate your success. For example, if your average customer transaction is $100 but your competitor average customer transaction is $150, they will generate more revenues, and probably profits, per customer. As a result, they will be able to outspend you on advertising, and continue to gain market share at your expense. In this section of your plan, think about ways to increase your transaction prices such as by increasing prices, creating product or service bundles/packages, and so on.
Marketing plans can get quite granular to reflect the industry you are in, whether you are selling to consumers (B2C) or other businesses (B2B), and how big your digital presence is. Nonetheless, here are six elements every effective marketing plan. In a marketing plan, your Business Summary is exactly what it sounds like: a summary of the organization. This includes the company name, where its headquartered, and its mission statement -- all of which should be consistent with the business as a whole. Your marketing plan Business Summary also includes a SWOT analysis, which stands for the business strengths, weaknesses, opportunities, and threats. Be patient with your business SWOT analysis, you will write most of it based on how you fill out the next few marketing plan elements below.
Your distribution plan details how customers will buy from you. For example, will customers purchase directly from you on your website? Will they buy from distributors or other retailers? And so on. Think through different ways in which you might be able to reach customers and document them in this section of your marketing plan. Click “next page” below for sections 6 to 10 of your marketing plan or or here for the proven marketing plan template. Offers are special deals you put together to secure more new customers and drive past customers back to you. Offers may include free trials, money-back guarantees, packages (e.g., combining different products and/or services) and discount offers. While your business does not necessarily require offers, using them will generally cause your customer base to grow more rapidly.
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