What To Consider When Creating A Marketing Plan

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So, you started a new business, you are working your butt off, and you are making money. You are killing it! It’s time to take your business to the next level, and you know what you need to do next, but don’t know how to do it. It’s time to make a marketing plan. We’ll break down everything you need in your marketing plan. Just follow our outline and you will be done before you know it!

Status Update

Take a little time to determine where your business is at. Are you profitable? What has your growth rate been? What areas are you succeeding in and where are you failing? Before you can determine where you need to take your business, you need to know where it currently stands.

Goals

Set some goals for your marketing plan. In order to structure it, you need to know what you are working towards. Do you want to break into new markets? Appeal to new demographics? Whatever it is, it is best to know before you start planning.

Target Audience

Decide who your target audience is and then it’s time to hit the books. Do plenty of research on your audience so that way you can create a marketing plan that will be more likely to attract your prime customers.

Set a Budget

Marketing can take up a significant part of a business’ budget, but without it, your business’ growth will be stunted. Determine how much you have to spend and see how far it can get you in different mediums. If you have a small budget, social media may be the way to go. If you have a bigger budget, sponsorships can leave a big impact. Make sure to calculate how long you can afford your marketing strategies and at what point will you have to replenish funds if you want to continue your efforts.

Plan of Attack

Now it’s time for the fun stuff. Plan what types of marketing you want to utilize, and research what needs to be done in order to make them happen. If you want to make a commercial, how much will it cost to hire a film crew and air time? If you want to only use social media, which social networks are you going to use and how often are you going to post?

Set a Schedule

In order to make your marketing plan a fully fledged plan, set a marketing schedule and stick with it. Research when it is most beneficial to air your commercial or post on Facebook and make a marketing calendar around those dates and times. If you decided to make cold calls, then set time aside on your calendar each week to make those calls.

Go, Go, Go

Unless you started a marketing business, you probably weren’t dreaming of starting your own business so you could publicize it. But you have to. So now it is time to be your own copywriter, publicist and social media expert. You will probably need to work on it every day, that is, until you can hire your own marketing team of course!