Planning and Strategies for Marketing Success
Design Your Business Model
Business planning is an important part of creating and managing a small company. After you have answered the important questions of what problem your company will solve for consumers and why, ask, “how will you let your intended customers know about your brand?” How will you target an audience that you would like to have as your clients, paying you for your expertise through your services or your products?
Your Company’s Marketing Plan
It is an important part of your overall business planning processes. Determining what your brand is about, what makes you special and stand out in the crowded marketplace, and other preliminary branding identity definitions lets you establish how your company will grow and prosper through sales.
Strategy and Planning
- Identify and define your company’s target market. Ask what do your customers need? How can you address those needs with your products and services? Market research is an important part of the marketing portion of your overall business plan.
- Who and what are your market? Geographic, demographic, size, luxury or economy class customers, Etc.
- What will your company’s marketing strategy be? How will you reach your target markets? You can spend a lot of money on different advertising medias but not convert enough interest into sales.
- Strategy includes designing the ways and means to reach your target audience. What types of advertisements will you use to reach your desired audience? Direct mail and print ads in magazines and newspapers, your brand brochure to hand out, radio or television advertising, and digital medias such as your website and social media pages.
- The planning and strategy phase can get involved but is still very important to include in your overall business strategy.
As the business plan is a “living” document and should be updated as your business grows and changes, so it goes for your marketing strategies. We should always be on the look out for ways to improve our sales. If an advertising campaign did not work, find out what went wrong and how to make corrections, if possible. If a campaign increased sales, what was different about it and allowed for the success?
The SBA – U.S. Small Business Administration – maintains excellent free resources on Market Research to Find Customers and other valuable marketing information online.
Digital Marketing Ideas
- Do not overlook the advantages of the “free” media – social media. LinkedIn, Google My Business, Facebook, Instagram, Pinterest, Twitter, and others can help you increase your brand awareness for little or no money.
- Paid ads on these venues? If it is part of the plan to reach your market and gain new sales, yes. Which one is best? They all have their place in the ad scheme, and it depends on your business model, your products or services, and your desired audience. We use that word “audience” a lot in marketing so learn who they are, where they hang out, and the best way to reach out to them.
- Google Search, Google My Business, Bing Places for Business, SEO, Keywords, and Ads. Make all, some, or most a part of your brand’s marketing strategy.
- Your company’s website should follow through with your overall branding strategy. It is the window looking into your company for all the world to see.
Analytics – Measure the Results
- You will need to measure the results of your marketing advertisement expenses. Many of the digital advertisement options include tools to track conversion rates; how many eyes are reached in your target versus how many clicks to your landing page?
- How many visits to your landing page turn into purchases?
- Analytics Conclusion – did the ad work? If so, by how were your increases in sales? If not, what is the next step in your plan?
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Would love to connect with you to discuss your brand’s market planning and implementation strategies.