A well-thought out marketing plan is essential to the long-term viability of any business. However, many entrepreneurs and small business management teams are left in the dark as they seek to increase their promotional efforts.
It’s unnecessary for business owners to feel completely lost, however. The best marketing strategies are straightforward and logically implemented. Following are some tips for building and executing a solid marketing campaign.
Identifying specific marketing goals
Every business has particular marketing needs that can be met with careful study of and attention to market realities. In order to be competitive in the information age, your goals should include the following:
· Developing your online presence through a company website and social media
· Reaching out to target markets by identifying their online habits and focusing marketing efforts accordingly
· Understanding advertising trends and consumer behavior in your specific market
· Achieving brand recognition for your company and its services
Think about what your needs are and present them to your colleagues. Identifying such needs is the first step in creating a plan that will actually meet them.
Identifying your marketing and media mix
Closely observe how your ideal customers are currently meeting their wants and needs. Do they go to brick-and-mortar stores to buy the products you sell? Do they turn to the internet and search for detailed reviews before they make purchases? Use that information to determine the best media to focus on. A strong mix might include the following:
· An email newsletter through which you build relationships with prospects and provide special offers
· A social media presence (e.g. through Facebook, Twitter, Google+ and other specialty services) through which you offer exclusive benefits to customers
· A blog that garners the interest of prospects and pre-sells them on your service
· The writing and distribution of press releases to increase potential exposure to mainstream media outlets
Develop a list of media that is most relevant to your prospects and can be targeted without overwhelming your resources.
Creating a budget
Think about the marketing campaigns of your competitors and what will it take to either outshine them or hit segments of the market that they’re missing. If they’re investing in traditional marketing avenues such as radio or print advertising, you may also choose to go that route. Or, if your budget is limited, you may choose to focus a majority of your efforts on cost-effective internet marketing and social media outreach.
In order to visualize the budget, a spreadsheet detailing activities (such as website hosting and promotional events) and the amount of money spent monthly on each will be very helpful. Use your intuition and best judgment, weighing immediate needs against long-term ideals, to create a budget that best serves your enterprise.
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