We have now all heard of business plans and their significance when starting a business. How many people have considered a Marketing Business Plan? The latter is just as important as a business plan and can be integrated into the initial plan. Nevertheless, I believe the Marketing Business Plan is so essential to a startup business that it needs to be considered separately and distinctly from the regular business plan. Many times I will be called into consult with an existing business to learn that business in most ways has ignored the Marketing Business Plan along with the direction it can give the owners and sales people. I'm frequently asked for marketing plan examples to go by but a marketing plan for a company is like a finger print. It has specific characteristics that only that business has. I once had a business that did very well. I grew the company after which decided to sell it. The new proprietor came in demanded that the company run his way or the highway. He would not follow the marketing plan for the business that made it successful. He eventually ran the business in the ground.
There are many questions you must ask yourself before creating a marketing business plan. This short article will focus on two significant questions. These questions can help you define your business for yourself and will define your business for your buyers as well. There are undoubtedly more questions to look into when creating a Marketing Business Plan but for right now we will deal with just two.
Questions 1: Who are your customers?
I know this sounds to some ridiculous, but many businesses lose their way and use a lot of money advertising to the incorrect customer base. Define the age group, the business sector they are in, area of town or areas they exist, male, female, family, social status, income .levels, interests. I typically have a brain storming session with my client to determine the depth and level of characteristics for their client group. KNOW WHO THEY ARE! If you understand this information, then it is also possible to target your marketing in the direction of this group and get the biggest bang for you buck.
Question 2: How will your product or service meet this customer’s need?
It is remarkable how often we try to push a product or service off on a person who doesn't have a need for it. A great marketing and/or sales person will always connect a need to the customer. If you are able to do this, the battle is half way over. Perception is everything. If you will get your customer base to perceive a need for your services or products, you are going to be successful.
Both questions above are usually answered by customer surveys. The customers that you are currently selling to will provide you with insight into what demographics they fall into and more significantly tell you why they purchased your product or service. I have found that clients are more than happy to share with you information and help you if you ask.
Bill Williams has owned and sold several successful businesses and currently helps entrepreneurs, small businesses and organizations with their marketing strategy. Get free advice from Bill at this link Small Business Strategies!
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