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Yes, Marketing Plans do exist and are essential for the small business owner

Once a Strategic focus Plan is developed, then the focus should turn to the development of a Strategic Focus Marketing Plan. In some cases, our clients want only a marketing plan developed so we have structured a Strategic Focus Marketing Plan patterned after our overall business plan. We include the same fundamentals in both plans and a lot of the discovery process is the same. The following is an outline of our Strategic Focus Marketing Plan:

  1. What is the business currently doing in the following areas:
    1. Products/services
    2. Sales and market efforts
    3.  Current target market
    4. Pricing
    5. Market share
    6. Client need analysis
    7. What marketing problems do you currently have?
    8. What opportunities do you see?
    9. Define your sales objectives; be specific.
    10. Re-define your target market by answering the following:
      1. If there were no limits, who do you see as the ideal target markets? Be specific and list at least three target markets.
      2. Make a list of possible marketing strategies.
      3. How do you want your product/service to be perceived, relative to that of your competition, in your customers mind?
      4. Make a list of marketing tools that you could use (branding, web page, social media, publicity, personal selling, advertising, etc)
      5. Establish a time table for implementation including action steps and an accompanying time table.
      6. Based on the information gathered in the first steps of this plan, create a marketing budget that will accomplish this goal. Initially, this budget should not have any constraints placed on it, once the budget is developed and income projections are looked at, then available funding is examined.
      7. Prioritization and implementation is the next step.
        1. Progress evaluating is a continuous requirement; I recommend a weekly status examination for the first two months, then twice a month thereafter.

Unless a plan is in writing and referred to on a regular basis, there is no plan!

Let the “Duck” at www.strategicduck.com become your marketing coach and partner

Nick J. Petra      Certified Financial Planner  We are the number one team for  Business Planning  and Coaching

 

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