Marketing is a very important factor of a business. Without marketing, it is difficult to reach the top level of sales and difficult to earn that kind of revenue.
Let us understand different steps to create a marketing plan for your company/business:
- Conducting proper analysis of the situation:
- Analyse your current situation in the market before starting with the marketing plan. It will help you understand your position in the market.
- Conduct a SWOT analysis for your company. SWOT analysis means to know about the “Strengths, Weaknesses, Opportunities and Threats” of your business.
Most of the business men do not want to accept that their business might have some weaknesses and threats too. This creates a difficult situation for them because they do not know what factors they need to improve and hence fail to achieve their goals.
- Look for your competitors in the market. It is very important to know about the strengths and weaknesses of your competitors and also about their idea of working as it can help you to give a healthy competition to them.
2. Your target audience should also be defined:
- After having a proper analysis of your company’s situation in the market and also about the preferences of the market, it is important to know about your target audience.
- If you already have potential buyers in the market and your brand is popular, then you just need to have a refined list of your target audience based on your present audience.
- If you do not have potential buyers in the market, then it becomes very important for you to create a buyer persona for your business.
- Your list of target audience should include their demographic information (like their age, gender, income, location and so on) and their psychographic information too (like their interests, their pain points, goals etc.)
- It is better if you create your buyer persona based on the needs and demands of your potential customer or hoe your business is solving their problems.
3. Note down your marketing goals:
- It is always advised to have a road map for your marketing plan. Without a road map, it is difficult to produce the desired ROI (Return on Investment).
- After completing the above two steps, start defining your SMART goals.
- SMARt goals should be specific, attainablem measurable, time bound and most importantly relevant.
With time bound, it means that all your goals should include a time frame and there must be a timely goal that under this much amount of time you will complete your goals.
- For example, after thorough analysis of the market, your goal is to increase the sales by 25% in six months. Depending on the overall goals of the marketing, this goal should be relevant and attainable and moreover, this goal should also be measurable, specific and time bound.
- Before starting any kind of tactic, it is better to write your goals. Once the goals are clear, you can begin with the tactics.
4. Analysis the tactics suitable for you:
- Now your task is to figure out the tactics suitable to achieve your goals.
- For example, if you want to accomplish the goal to increase your instagram followers by 20% then in that case your tactics should be to post atleast three times a week on instagram, to respond to every comment you get and to host some giveaways.
- While noting down your tactics, it is also important to keep the budget planned in your mind simultaneously.
5. Last goal is to set your budget:
- For marketing, budgeting is a very important part. Suppose in order to have an ad campaign run properly, you need to have the required budget otherwise you might not be able to achieve your goals.
Your marketing plan is ready with all the above five points now comes the next step to choose the partner who can help you with the products of digital marketing.
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