Having a specific marketing plan can mean the difference between your business making it or breaking it. A clear plan will help you zone in on your ideal customer and focus your marketing efforts, making you more productive and increasing your profits. But how do you create a marketing plan that actually gets results? Here are 3 steps to creating a winning marketing plan.
- Identify your ideal customer. There are millions of consumers out there, but only a portion of them may be interested in your product or service. Because of this, you will have much better results if you spending time identifying your target customer. Come up with as much detail as you can: your customer’s age, gender, race, income, marital status, children, how they shop, where they shop, anything and everything that can help you identify who they are and what they are looking for in a product or service.
- List your competitors. Besides determining your customers, you should also identify your direct competitors. Understanding who your main competition is and how they do their business can help you determine your position in the marketplace. Pay attention to pricing, marketing tactics and anything else that sets your competition apart and makes them shine in your industry.
- Determine your brand position. Your brand and what it means to customers is what can set you apart from your competition. Write down a statement about how you will meet your customers’ needs and how you will beat the completion. Think of what makes you better than the rest and stand out from the crowd. Make it simple, and focus on your target customer’s needs.
A marketing plan is essential to the success of your small business. By figuring out your ideal customer, determining your main competition and then establishing your branding position, you can hone your marketing strategy to help give your business a push closer to success.