Have you heard the phrase “when you don’t know where you’re going, no road will lead you anywhere”? asia mobile number list It’s surprisingly applicable to many areas of everyday life, but this time we’d like to give it a slightly more business-related focus. A marketing plan helps us understand where we’re headed in terms of product, place, price, and promotion (better known as the 4Ps of marketing: product, place, price, and promotion), and it’s highly recommended to have one, no matter how big or small your company is. Today, we’ll briefly explain how to build a marketing plan for your business from scratch.
Remember that there are experts who can provide professional advice. This guide is very basic and visitor tracking and analytics is intended to get you out of a bind and introduce you to the topic.
According to a Forbes magazine article , as a startup, 90% of your success will rest on the shoulders of your marketing. This applies even if you’re not running large display campaigns. The number of users you can attract, how much you can charge for your product, and the funds you can raise are all results of a well-executed marketing plan. The following steps are important to consider when developing your marketing plan from scratch:
Analyze where they stand
Review statistics and numbers from recent months, identify patterns, and do some competitive research. This will give you a much broader picture to help you make the best decisions regarding your marketing plan.
A tip: create matrices or analyses like SWOT or BCG so you can focus all your efforts on the opportunities that come to light. Remember, no company or business is perfect; having areas for improvement isn’t necessarily bad news.
Consider business objectives and budget
As with everything, you must know where you want to go and how much money you have when setting your objectives. A good way to start your marketing plan from scratch is by knowing your short-, medium-, and long-term goals as a company and defining them as SMART objectives. What does this mean? They must be specific, measurable, achievable, profitable, and establish a timeframe for achieving them. Here are some examples:
- Increase profitability from 25 to 30% by the end of the year
- Double your online revenue in the next 8 months
- Reach 1,000 YouTube followers by March 2022
As you define business goals, be sure to also establish a marketing budget for the year. A good rule of thumb for mobile numbers setting a marketing budget is 6 to 12% of gross revenue, with higher spending in the early stages to establish a balance.
Prepare market studies
It doesn’t have to be the latest research, but knowing your market is crucial to know how to adapt your product to the needs of current and potential customers. The more you know about your customer, the better. What do they do most? Where do they shop? How much free time do they have to check their social media? Where do they hang out? You’d be surprised how many businesses don’t know their buyer personas .
This way, you’ll land and focus your marketing on a smaller segment, and it will be more effective.