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Marketing
Mistake Number One is...
Not
Having A Marketing Plan
In
my small business consulting experience I have noticed
a similar attribute that is common in most entrepreneurs
and business owners. Most are do'ers rather than
planners.
In
reality, being a do'er is perhaps the ultimate mark
of a successful person. It's what makes entrepreneurs
a rare breed. Rather than thinking or wishing, they
get out there and make something happen.
But
I have encountered many small business owners who
get into trouble doing the wrong marketing activities
the right way or doing the right marketing activities
the wrong way. If you want to do the right marketing
activities the right way, you must start with a
marketing plan.
Here
are the 7 Steps we will use to create your successful
Marketing Plan:
| Step 1
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Understand
Your Market and Competition
A big mistake that many small
business owners make is to latch on to a cool
product or service without first understanding
the market and what it wants (not what it needs).
If you try to sell something that people don't
want, they won't buy it.
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| Step
2 |
Understand
Your Customer
Knowing your customer intimately
is the first step to easy sales. Until you know
(1) who your customers are, (2) what they want,
and (3) what motivates them to buy, you can't
prepare an effective marketing plan.
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| Step
3 |
Pick
a Niche
If you say that your target customer
is "everybody" then nobody will be
your customer. The marketplace is jam packed
with competition. You'll have more success jumping
up and down in a small puddle than a big ocean.
Carve out a specific niche and dominate that
niche, then you might consider moving on to
a second niche (but not before you've dominated
the first one).
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| Step
4 |
Develop
Your Marketing Message
Your marketing message not only
tells your prospect what you do, but persuades
them to become your customer. You should develop
two types of marketing messages. Your first
should be short and to the point. The second
type is your complete marketing message that
will be included in all your marketing materials
and promotions.
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| Step
5 |
Determine
Your Marketing Mediums
Your marketing medium is the
communication vehicle you use to deliver your
marketing message. It's important to choose
a medium that gives you the highest return on
your marketing dollar.
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| Step
6 |
Set
Sales and Marketing Goals
Goals are critical to your success.
A "wish" is a goal that hasn't been
written down. If you haven't written your goals,
you're still just wishing for success. When
creating your goals use the SMART formula. Ensure
that your goals are, (1) Sensible, (2) Measurable,
(3) Achievable, (4) Realistic, and (5) Time
specific.
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| Step
7 |
Develop
Your Marketing Budget
Your marketing budget can be
developed several ways depending on whether
you want to be more exact or develop just a
quick and dirty number. The result will give
you a rough estimate of what you need to invest
to meet your sales goals for the next year. |
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