Marketing Plan In 5 Steps
You probably have heard this a lot, no matter how good your product or service is if you don’t implement the right marketing strategies your business will likely flop, just a quick reminder before we get into the “Tea” of today’s topic! Think about this how many products have you bought online because of their marketing only to realize there are not worth the price? See what I just did right there LOL.
Ok, small businesses let me spill the secret, these large companies have over you, “they have effective marketing plans! That means you too have to level up when it comes to effective marketing plans. So, how do you plan one, let’s dive into it!
How To Make A Marketing Plan
1. Conduct a SWOT analysis
Determine where you stand as a business, and what are your weaknesses, strengths, opportunities, and threats! How does your products or service measure up to your competitors? What’s the current market like? How can you position yourself in the market? Answering these questions takes out the guesswork on whether your product fills a gap in the market! Which takes us to the next step!
2. Define your target audience!
Everyone is not your customer, choose your people and speak to them! Are you a fitness trainer? Do you train new moms who want to get in shape? What’s their age range? Do you offer high-end or low-end fitness services, what’s your target audience's income range? Where are they located? Knowing this will help you come up with a message that’s well-received by your target audience.
3. Create a roadmap
Now that you know your position in the market and who you want to reach, it’s time to create a road map! We all know the famous saying, “ You can’t improve what you don’t know”, setting SMART goals allows you to see where you are coming from and where you are going, and when to improve! SMART goals can only be completed when they are specific, measurable, and time-bound. For example, grow my fitness Instagram followers by 20% in 6 months! This goal is specific, measurable, attainable, realistic, and time-bound.
4. Describe your product or service in detail
What do you say when asked what problems your product or service solves and why should people choose them over others? A detailed description of what value your product or service brings to your target audience written on time gives a framework of how you market to the public! This can also help you determine your unique selling point, which makes people choose your product over others in the market.
5. Set Your Budget
Ok, we still need some money allocated for your marketing! So what are the expenses associated with your marketing plan? Are you going to need new hires or tools? Will you be working with influencers, are you going to pay them or give them free products? This guide will help set an estimated budget to execute your marketing plan!
Alright, small business owners, we have exhausted the “tea” to creating a marketing plan in these 5 easy steps, how do you plan on improving your marketing plan? Keep in mind these large companies were once small with big goals! You too can start working smart with these effective marketing plan tips.