By On Jul 31, 2019 Templates
To succeed in business, you need a marketing plan. To make it easy, I am providing the worlds simplest marketing plan template below, suitable for small businesses or early-stage startups. (And if you dont think you need one, read why you need a marketing plan below.) Just answer the 10 questions below. If any of the questions are hard to answer, that is great! The more you research your answers, the better your plan will be. Answer every question honestly and thoroughly, and I guarantee that your marketing will be stronger, more effective, and more efficient. Marketing is simply a process of communication and persuasion. It is communications, because you are putting a message into the mind of your audience. It is persuasion, because you are doing it to get them to take some action. Thus to do marketing right, you need to answer some basic questions. What is your message? Who is the audience? How will the message be interpreted? What action do you want them to take? All this is covered in your marketing plan. The marketing plan is designed to make this process of communications and persuasion explicit, thorough, and effective.
Do you take a good, hard look at your team marketing strategy every year? You should. An annual marketing plan helps you set your marketing on the right course to make your company business goals a reality. Think of it as a high-level plan that guides the direction of your team campaigns, goals, and growth. Without one, things can get messy -- and its nearly impossible to put a number on the budget you will need to secure for the projects, hiring, and outsourcing you will encounter over the course of a year if you dont have a plan. Keep in mind there are variations to the marketing plan you need, depending on your industry and the goals of your marketing team. To make your plan creation easier, we have put together a list of what to include in your plan and a few different planning templates where you can easily fill in the blanks.
Too many organizations spend too much time and energy trying to secure new customers versus investing in getting existing customers to buy more often. By using retention strategies such as a monthly newsletter or customer loyalty program, you can increase revenues and profits by getting customers to purchase from you more frequently over time. Identify and document ways you can better retain customers here. The final part of your marketing plan is to create financial projections. In your projections, include all the information documented in your marketing plan. For example, include the promotional expenses you expect to incur and what your expected results will be in terms of new customers, sales and profits. Likewise include your expected results from your new retention strategy. And so on. While your financial projections will never be 100% accurate, use them to identify which promotional expenses and other strategies should give you the highest return on investment. Also, by completing your financial projections, you will set goals (e.g., your goals for your referral program) for which your company should strive. Completing each of the 15 sections of your marketing plan is real work. But, once your marketing plan is complete, it will be worth it, as your sales and profits should soar.
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