As a small business owner, there’s a good chance you are not a marketing expert. After all, you most likely didn’t start your business because you have a passion for marketing, you started it because you have a passion for business and what you offer. However, marketing plays a huge role in the success of your business. It’s important to have a marketing plan to help your business grow.
What is a marketing plan?
A marketing plan is a written document that explains how you are going to get people to buy what you sell. There are three critical parts of a marketing plan. First, you need to nail down your target audience and your market. The more specific you can be here, the easier it will be to focus your marketing efforts. Second, it’s time to do some research. You need to learn everything you can about your competition, so you know how to position and promote yourself. Finally, decide on your marketing strategy. What channels do you want to use to promote your product or service? What is your primary message? These will ultimately influence your marketing strategy and overall marketing plan.
Why do you need a marketing plan?
As we mentioned before, marketing plans are the foundation of any business. However, if you’re still not convinced, here is what makes them so valuable.
They require you to think
Going through the exercise of defining your marketing plan forces you to make some decisions about your customers and your product. Who is your target audience? Why? What is the main value your product provides? How can you best communicate this to your customers? In addition to help you create your marketing plan, this exercise helps you understand your customers and their needs more, which allows you to provide a more enjoyable experience.
They provide motivation for you and your team
Part of creating a marketing plan is establishing measurable goals for your business. These act as tangible targets for you and your team, and can increase performance. If your employees have a specific goal to work towards, like a sales goal, there’s a good chance they will go the extra mile to make it happen. As humans, we get pleasure from setting goals and achieving them, so you can use this to your advantage.
They’ll make your money go farther
Marketing will become another small business expense that you have to factor in the budget. A solid marketing plan acts as a roadmap for when to invest in marketing (like around a busy holiday season or summertime) and what channels to invest in based on your customers. That way, you know exactly where your money should go, and those marketing dollars are more likely to attract the attention of your audience.
Once you have a marketing plan, don’t forget to invest in marketing materials, such as business cards, flyers and a website. If you need help spreading the word about your business, Early Express offers omni-channel marketing solutions to reach your customers where they are.