Do Small Businesses Need Marketing Plans?
Yes, but it doesn't have to be a 100 page document. An effective marketing plan should keep you focused, help you spend your resources wisely, and allow you to determine whether you have reached your goals.Step 1: Know Your Market. Consider your company and how it relates to the competition. Why is your product or service better than the competition? Sum it up in a few sentences. Position your business to take advantage of what it does best and where there is a need.
Step 2: Know Your Customer. What is the market for your product/service and who specifically is your target audience? What motivates customers to buy your offering? How do potential customers go about purchasing similar items?
Step 3: Develop a Marketing Strategy. Now that you have defined your market and target audience, determine your marketing message and how you are going to reach your target audience.
4. Develop an Implementation Plan. What specific tactics are you going to use to implement your strategy? Will you reach your target audience through a combination of Internet marketing, newspaper advertising, and direct mail, or would niche magazine ads, markets and trade shows, and word-of-mouth incentives be more effective? Develop a detailed plan and include specific dates and deadlines.
Step 5: Set Specific Marketing Goal(s). Use specific dollar amounts, number of items sold, etc. Instead of making your goal to, "Add five new clients," make it your goal to "Net (insert number here) in new business revenue by December 31".
Step 6: Develop a Marketing Budget. Determine how much money you can spend to meet your objectives. Break down your budget to match your Implementation Plan (Step 4). At the end of your fiscal year, analyze your success to help you plan for the following year.
Strategic Marketing
As the old saying goes, "If you don't have a plan, how will you know when you get there?"From developing in-depth marketing plans to customer surveys and brand identity programs, DeVore Marketing can apply over 18 years of marketing experience to help your company stay on track and focused on its goals. DeVore Marketing can provide assistance with:
- Marketing plans, including budget friendly plans designed for small businesses
- Brand identity
- Grant writing
- Survey development & analysis
- Project management
A Word About Brand Identity
Okay, more than a word. Branding is the image that people associate with your company's product or service. Your brand should distinguish your company from your competitors.The importance of branding has been recognized for years by large corporations. I worked for an advertising firm in the late-80s that did extensive work for a Fortune 100 client. The client's corporate identity manual was three inches thick, and covered every possible use of their logo, name and tagline.
It is equally important for small to medium-size businesses to recognize the importance of establishing a positive brand presence. A company's brand identity includes the company name, logo and tagline -- its visual look. Think about your brand identity. Is it all encompassing? Does it extend to every form of communication from e-mail to voice-mail messages? To develop a consistent brand identity, start with the following:
- Develop a strong logo and use it consistently.
- Create a written branding message. Sum up your business, what benefits it provides, and why it is better than your competition.
- Integrate your brand message in everything from your advertising and Web site to brochures, e-mail signatures and invoices.
- Develop a tone for your company that reflects your brand. Are you progressive, friendly, fun, professional?
- Develop a tagline. Write a memorable and meaningful statement that captures the essence of your brand.
- As mentioned, large corporations develop detailed corporate identity manuals to govern the development of all marketing materials. Even if you have a small to medium size company, you should follow this example by always using the same color scheme (know your Pantone colors for printing and hexadecimal colors for the Web), placing your logo effectively, and making your marketing look consistent.
- Live up to your brand promise or your customers will not return. If you are going to pledge to be, "On time, all the time," you better be pretty close to that mark.
- Be consistent.