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Having a Marketing plan is one of the biggest steps you’ll make, in making sure your business will be successful.

Many gurus or so called marketing experts would say a marketing plan should be detailed and comprehensive. I agree and disagree, I agree because the more detailed a plan the better chance of achievement. However when it comes to the marketplace it’s all about supply and demand.

The market place changes daily so for you to write a comprehensive marketing plan including.

Executive Summary 

5C’s

  • Customer
  • Company
  • Context
  • Collaborators
  • Competitors

STP

  • Segmentation
  • Targeting
  • Positioning

4P’s

  • Product
  • Price
  • Placement
  • Promotion

Will be amazing but for me to make this blog as strong & simple as possible I have decided to give you the most important 7 steps to creating a successful marketing plan.

1.Determine what you are going to sell and to whom your going to sell it. (Target Market) 

Its important to know precisely who you are selling too, that’s where a lot of businesses go wrong, they never decide who there target customer is. They try to be everything to everybody and end up being nothing to nobody.

Clearly and fully explain your product or service in one short sentence. As well as explaining in one short sentence the key problem your solution solves for your customers.

2. Determine your Positioning.

Positioning simply put is how the market space perceives you. Positioning has many physical elements but even more perceptual ones. It’s about identity who your brand and company is in the marketplace vs competition in the eye of the customers. Positioning requires design, pricingdistributorship and communicating. A lot of people also use their (USP) Unique Selling Proposition as part of their positioning or differentiating there business/brand in the market place.

3. Determine your Product/Service plan.

Make sure you know what your customers want and how you can improve your product or service by running surveys through email, phone etc. To see how your product compares to your competition in the market space, why they choose you and how you can deliver it more efficient and effectively.

4. Determine your Pricing plan. 

Price on value and not on cost maximize the price you can get for your product/service be sure you over deliver and provide more and better service than you get paid for.

5. Determine your Distribution (Place) plan.

Look at what is working for your competitors but you also want to think about how do your customers want to buy and where do your customers want to buy. Then build your distribution plan around that.

6. Determine your Promotional plan.

Your strategy should include all three prospects cold, warm and hot. Cold prospects: who know nothing at all about the business. Warm prospects: those who are familiar with your business or has been introduced through marketing & advertising. Hot prospects: interested customers who know your brand and ready to buy from you.

Make sure you have clear idea who you are trying to target also what message is the optimal message to communicate to that market. Basically you want to create the right message through the right medium to the right market.

Realize there has been a shift in the media world from old media to new media. Old media TV, Billboard, Magazine, Radio etc. To new media social media Facebook, Instagram, Youtube, Snapchat, Twitter, LinkedIn etc.

7. Determine your marketing budget.

Write out your budget on how much your business will spend and how will it be spent on different medias, branding, design, etc.

8. Bonus “Advertising Report & Analytics”

Measuring ads is critical to the success of your campaigns and your business. Accurate measurement requires two fundamentals, first separate what works from what’s not working. Second you must double down on what’s working and then only then can you get clear and accurate results and measure your ROI.

Thanks for taking your precious time to read our blog I hope you got a lot of value and take what you learn and apply to your business. If you have any questions or concerns feel free to comment on this forum or contact us through contact page looking forward to hearing from you or possibly help you take your business/brand to the next level.

-Jalen Hamilton

 

 

 

 

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