Thinking of developing a good marketing program? Well, you would need a successful marketing plan first. While most people make the mistake of building long, tedious and expensive marketing plans, it is usually the simple, well-researched ones create the maximum impact, if implemented effectively.
When you are charting a marketing plan, remember, no matter what the scope is; it should be a very fluid document. The plan should be made after careful and extensive research; should be well structured and competitive in nature. Most importantly, it should have attainable outcomes. This plan would be foundation for all your activities that you plan for the months ahead. However, it is always better to keep revising, reviewing and enhancing the plan as and when the opportunity or need arises to keep in tune with the results expected.
Basics of a marketing plan:
• Do the market research. Collect and organize all the data available and then consider the market patterns, dynamics as well as seasonality. Know the demographics well and what is that the competition is offering to the customers. Also learn about the benchmarks and current sales of the industry apart from the reliable vendors.
• Find your target markets and plan how to introduce the product to them.
• Learn the market needs and plan how to describe the product to the customer you will be catering to.
• Learn about your competition in the market and realize how to beat it. See what the competition has and what you need to excel it.
• Write a mission statement that includes information on your key market, the contribution you are making and the distinction of your product over others of the same kind.
• Pen down the promotion and marketing strategies you would use. You can consider direct marketing, networking, advertising, personal selling, trade shows, press releases, websites or even write articles and give guidance to be established as an expert in the industry.
• Then, it is important to use the information and data you have collected for the right positioning, branding and pricing of the product. Don’t forget to create a budget first.
• Once you introduce the product in the market, monitor your outcomes at regular intervals and always track your sales.
If you keep these pointers in mind while drafting your marketing plan, there is no way you would fail. Just research well, and stick to the basics, and it will be a success for sure.