Marketing Plan

photo credit: Busines Daily
 
 In today’s ever- evolving business-marketing Sphere, there is a need to examine strategies that can put business in the forefront. As the saying goes “If you fail to plan, you plan to fail.”

Planning is the most important part of any human endeavor, just as we plan how we live life, we must also plan about all aspect of our business, such as product, operations, inventory and marketing.

Out of all business process, marketing requires extensive planning, as it is the engine room of the business.

Plotting your marketing strategies ahead of time is the best thing you can do for your business, it will not only give you sales but will also give you an edge over your competitors.

The following are tested and trusted marketing guide that has kept organizations growing for decades. Think of this “NO matter how good your product is, if it doesn’t reach and satisfy the consumer it is as good as the trash in the bin

1. Identifying your customers and their behavior

Smart entrepreneurs always find their targeted audience first after their business idea, finding their potential consumer’s behavior is the next using tools like Surveys, Questionaire, focus groups, and website metrics. The last thing here is the summary of the latter and former i.e creating a virtual detailed customer profile (The ideal image of your customers)

The process above will help you stay focused on your customers’ needs, and make them feel valued with serviced tailored to their DNA. It will help you create intelligent and relevant content which will form the basis of a long-term relationship with your customers.

2. Know your Competitor’s

A business built on the basis of trial and error is doomed to fail. Entering new markets involves a great deal of research about the market landscape, which includes your competitors. Studying what your competitors are doing and highlighting both their strengths and weaknesses with SWOT analysis and determine what to do edge ahead of them.
 Ask yourself hard questions.

  • Why will customers prefer me to my competitors?
  • How is my product or Services unique?
  • If i am a consumer will i patronize my business, If yes why?

Find answers to the question and improve on all lapses. Finally, know who you’re up against, and outsmart them.

3. Set realistic goals

Setting goals is awesome and great but they must be realistic. The ideal marketing goal is that which is realistic, avoid unnecessary burnout and wasted effort.

 Setting goals are the starting point of any plan. The exact marketing achievements should be realistic and attainable. Depending on the industry and business stage you’re in, each goal should impact the bottom line.

4. It’s all about tactics

Business plans are the master plan of the success of a business, they are very important. They guide and keep you focused on the key aspects of your business. Spend some time to figure out the exact marketing tasks that can help you achieve your goals. And be specific. For instance, if your goal is to generate online leads, then video content marketing tasks may become part of your key activity list. Dive in deeper with the details. Get your tactics right, take some time to figure out what approach is best for you.

5. Learning and Adapting

Change is the essence of life, every damn thing changes, Technology change. Markets change. Algorithms adjust. Users adapt. We live in a dynamic world, where changes in one part of the world affect the other. Take social media for example. Facebook and Instagram, 2 of the major social media platforms that businesses use, constantly change their algorithms. Keep yourself abreast of everything happening in your industry by learning and change your approach as the market demands. Regularly review your marketing strategy and revise it as necessary. It is really more of a process and not a plan.

Learn from seasoned professionals

Marketing doesn’t have to be rocket science. With the right marketing strategy, it can be your best sales asset.

Originally published on Blogger