Poor planning is one of the reasons why small businesses fail. Most of us think about financial planning but forget about the importance of having a marketing plan. Think about your brand from the very beginning. It will be easier for you, as a business owner, to describe what you do and you will become familiar with the marketing channels that get you the highest return on investment.
10 Questions to Answer when crafting your Marketing Plan:
- Who are you?
- What is your story?
- What is it that you do?
- Who is your target market? Note: usually businesses start with “anyone and everyone” as their target customer. As the business grows, you can see who your most profitable consumers are and begin to target them.
- How are you different?
- What is your promise? Be as specific as possible.
- What is your marketing budget?
- What are your company’s revenue goals? Where would you like to be next year at this time?
- What do you see as a priority for this year? Do you have a website but want to focus on blog content?
- Are there any networking events that you think are necessary to attend? List them here as a reminder.
It’s important to remember that the marketing plan can change. You won’t have all the answers from the beginning. As you acquire this information, you can tweak your marketing plan so that it works. Think of it as a living, breathing document; a place where you can mind-dump all the knowledge related to your product or service, and share that knowledge with others. This document also makes a great on-boarding document when you decide to hire a marketing professional. He or she can instantly understand your brand, industry, and competition without having to take too many educated guesses.