The 6 must-do tips for creating your marketing plan

Here are the 6 must-do tips for creating your marketing plan for your business.

1) Describe your Product:

Your product or service should be defined in simple and easy-to-understand terms. The message should clearly describe your company’s mission and how and why is it different from others. Let your customers know what will be the value add and how is it going to benefit them.

2) Target Audience:

Identify your target audience and take the time to understand them. Learn about their buying /spending habits. Try and understand them as much as possible and tailor your marketing plans according to your findings.

3) Classify the Competition: Are you one of the hundreds of companies vying for the attention of customers? Are you one of the few in the market who offer a unique service? Are you up in arms against some big companies with huge resources? Or your competitors are mid sized businessess? It is always a good idea to know your competition as it helps you to mould your marketing plans accordingly.

4) Make an expense budget: Once you know your target audience and your competition, set aside a monthly budget to execute your marketing plan. Whether it is door to door fliers, advertisement in the classified section of your local newspaper or hiring people to generate leadsfor you, make sure to set aside enough resources to fund the plan for an extended period of time.

5) Don’t put all your eggs in one basket: Markets change and evolve very quickly. What works for you today may not work tomorrow. Always be flexible and have a plan B in place. It is wise to have an alternativein case things don’t turn up as expected.

6) Make a Timeline: Once you have identified the medium of marketing; make a realistic timeline for action. For example, if you decide to distribute fliersand brochures, you need to start from writing the story, designing the template, getting the graphics, creating your mailing list etc. Assign each task a realistic acheivable timeline and stick to it.