5 Basic Ingredients Of The Marketing Plan

A marketing plan gives your company a flying start and works cost-saving. This plan fulfills the set objectives in the business plan. You can use an external agency for this purpose, but by writing the marketing plan yourself you will also gain more insight into your company. At any cost, you must remember the following things  5 basic ingredients of a marketing plan.

  1. Internal and external analysis

You must be aware of the matters that is used in your field and environment. With an external analysis you can identify the market, customers and your competition. What are your strengths and weaknesses? You can do this, by applying the SWOT system: SWOT stands for Strengths, Weaknesses, Opportunities and Threats. An internal analysis describes the state of affairs in your company and mirrors them to the competition.

  1. Strategy 

With a marketing strategy you determine the goals you want to achieve with your company in the long term. By setting provisional (and measurable) targets you can quickly make smaller jumps which helps you to reach your long term goals. You also have to find a good balance between ambition and false modesty. If you are setting an easy and achievable target then  you will not gain much in comparison with the competition, but thinking too big can also cause disastrous consequences. The marketing mix is a useful tool for determining your marketing strategy.

  1. Target group

For whom are you going to work and how do you intend to market your product? You should find out which target groups apply to your organisation . This can vary greatly per company and sector. In this way, consumers can be your main target group, but you can also focus primarily on the intermediate or retail trade. Do not forget to describe your ideal customer or clients in detail, also known as gauge. This makes it easier to make a realistic estimate of the size of your target group.

  1. Budget

Your budget must also be determined in the marketing plan. Whether you have more than sufficient starting capital or not, you will have to specify how much money you can make available for the various market segments (product development, price discounts, etc.). Calculate per product how much money you are expected to spend.

  1. Evaluation

Have you completed your marketing plan? Then you are not there yet, because a company should always move on towards the future plan to make your company grow faster.

In short: If you work on the plan then you can see a growth in your company after 6 months from the point you started.

Make sure that you regularly evaluate your marketing plan.

This allows you to quickly adjust when objectives or targets are not being met and you will not be surprised at the end of the year.

A Marketing Plan In 7 Steps

Reading a good marketing plan will make your plans concrete and the chance of success gets greater each time. In this article you can read how to do that.

Step 1: Collect information about customer and competitor

Collect good marketing starts with information about your target group, the market, competitors and of course your product or service. Analyse them thoroughly; it is not a rocket science. Using a simple survey among your existing and/or potential customers, you can get lot of information. If necessary, you can make them complete the survey by offering a gift or discount. It can then be recovered quickly. You should come to conclusion about what does your target group think about your product? You should also analyse if they did not buy your product, then why they didn’t buy them? 

Step 2: Determine which market you want to serve

Defining your market is very important in order to use your marketing budget efficiently. A maker of small sports cars does not have to compete against Volkswagen or Renault, but instead he have to focus his marketing on a small segment of enthusiasts who sell small sports cars. His marketing plan will have to be focused strongly on the needs of that target group. The sales and communication channels should also be connected with this.

Step 3: Focus on your product or service

Positioning is the backbone of your marketing plan. What place does your product or service take on the market? Does it have a special feature such as: innovative, handy, only for women, original Amersfoorts? It is about the core message that you want to convey in your statements. It determines to a large extent about how you talk about your product or service. You have very different expressions about paint than about ice creams so make sure that you show the difference in your plan depending on the nature of the product.

Step 4: Consider the life phase of your product or service

The life phase of your product determines to a large extent what your marketing looks like. In many cases, a new product or service will market you differently (‘new!’) Than a product that has existed for some time (‘proven formula’). You can use other sales channels with different pricing.

Step 5: Clear your target group

Men or women? Elderly or young people? Hip birds or cautious middle classes? Residents of Groningen or the whole world? Segmenting by target group is an important part of the marketing plan. You can think of training, residence, faith and socio-economic background. Which approach is appropriate for your target group? 

Step 6: Investigate the buying behavior of your customers

People drive for a nice bread. Droplets, however, they buy on a spur of the moment when they are at the checkout. By knowing where and when they make a purchasing decision, you can focus your sales efforts very specifically on your target group. 

Step 7: Set your marketing budget

Money that you spend on marketing needs will be given back to you later on. It makes no sense to spend more money without making any profit. However, you will not earn money if you do not spend anything on marketing. Sit down with a large sheet of paper and count: how do your expenses outweigh the possible extra income? How do you use your marketing more efficiently? to gain more profit.

4 Marketing Tips For Starters

Starting a business is one thing, but selling your product or service successfully is often another story. Without brand awareness and a stable growth of customers or clients, there will be no real success. But how do you, as a start-up, reach as many potential customers as possible? You can read this in the article below here are very important 4 marketing tips for starters.

  1. Make it personal

When setting up a marketing campaign, try to give a personal touch to products or the service that you will put on the market. Generally speaking, people are more likely to buy a product when they can identify the product with them. One product lends itself more than the other; the latest app in the field of navigation may be easier to promote in certain target groups than others- for example – a toaster that prevents the burning of slices of bread. But if you focus on bringing the message how this toaster will change the consumer’s life in a positive way (“Never again burnt toast!”), People will soon become convinced of the necessity of this product.

  1. Appearance counts

Marketing is not only about the quality of a product or service, but the presentation also plays an important role. Whether it concerns making a choice for the packaging material, assessing the design of a new business website and accompanying brochure or determining a design for your business cards: be prepared to spend time, energy and possibly money on it. The eye wants something too. So you may soon give a presentation about your product or brand in a business relationship, make sure that it is taken care of down to the last detail. Apart from the content, marketing also contributes in making a good first impression.

  1. Take search engine optimization (SEO) seriously

In the year 2018 you, as an entrepreneur, can no longer ignore search engine optimization (often abbreviated as SEO). Using this way you can try to optimize the content (content) and the navigation of a website, so it will be ultimately scored better in Google and in other search engines. Customers come out faster to your website instead focused on your competitors. Most starting entrepreneurs do not yet have an extensive marketing budget. Compared with other marketing techniques, investing in SEO is relatively advantageous, though – if you were not born with a pen in hand – you will have to hire a copywriter to create and share new relevant content.

Good SEO results cannot be achieved in a week of time. Keep in mind that this is a certain period of time before you will actually see a stable upward trend in visitor statistics. But if you invest the necessary time and energy in SEO in the start-up phase of your company, you can reap the benefits soon or later.

  1. Approach your target group actively

If you want to bring your product or service to the attention of your target group, you can of course approach the media, but actively approaching consumers or potential clients is just as effective in many cases. Imagine: you recently started as a freelance HR consultant and you have experience with supervising employees who have faced with a dismissal procedure. Then there is a chance that part of your online network is on LinkedIn. Make sure you log in to the right groups and know what is going on inside these circles. Approach the people (where you see opportunities as an entrepreneur) who are faced with a problem or who have asked a specific question in a personal, but non-committal way.

If you promote your products or services on social media, you should always be prepared for questions and / or complaints from your followers and come to a timely and adequate response. Set up alerts so that you know when and by whom your company or brand was spoken and, if necessary and possible, contact the person who said something about your product or service. Someone can have a well-founded complaint about your company (late or incomplete delivery, broken wire, etc.), but if you speak to this person in person and in a friendly way and you can quickly come up with a solution, you can kill two birds with one stone: you can save the reputation of your company, more importantly, you probably still have a satisfied customer.