Prepare for Success with a Marketing Plan
A marketing plan allows your business to put its goals and the objectives for accomplishing those goals on paper.
Many people confuse a business plan and marketing plan, imagining that they are the same document. It is true that a marketing plan may fall under one specific category of an overall business plan. Your company’s marketing plan details the manner in which your business will present its products, services, and value proposition to potential clients. Individual marketing plans are usually reworked every few years, depending on the situation.
Even if your company produces an outstanding product or service, this fact in itself does not generate sales. Marketing is the art of letting the right people know just what it is you have to offer, and effectively persuading them to get out their wallets. Once the sale is made, you then have to keep them coming back for more. All of these goals can be met by following the guidelines of a savvy marketing plan.
Within your business plan, a marketing plan explains how you will persuade your prospects to buy your product or service. Here are some topics which your marketing plan should address.
* Product or service description. Here you describe the advantages of a product or service and how your company can benefit its customers. Explain how your offering differs from those of your competitors. Here you can use your unique value proposition to outline why other companies should buy from you.
* Positioning and pricing – You should do some market research before you decide what price to set for your company’s products and services. Plan on getting a reasonable profit after you pay for overhead costs. Your plan should include details regarding the difference between your price and those your competitors are offering. Highlight any of your prices that are lower.
* Sales and distribution. Detail the methods your company will use to sell its product to other companies. How will you get it to the customer?
* Marketing strategies – Detail the strategies your company is putting into effect in order to effectively market its products and services. B2B companies often use a combination of personal selling, website sales, publicity, advertising, direct marketing, networking, and trade shows in order to accomplish this.
Ray Perry is an Internet marketing executive with more than 25 years of experience. He is the Chief Marketing Officer at Market Blazer, a small business marketing company and authorized Duct Tape Marketing coach. You can get more information about marketing plan at www.MarketBlazer.com.