Entrepreneur’s Coaching Center – A 6 Step Marketing Plan

Entrepreneur's Coaching Center - A 6 Step Marketing Plan

Sale is a significant problem for many businesses. Poor or insufficient planning can lead to sales failures. A marketing plan is essential before you spend money on salespeople.

Let’s start by being straightforward. There are two types of marketing: sales and marketing. You may think I’m elementary, but it would surprise you to see how many people don’t know the difference. Marketing is all about who needs it and who is most likely to purchase it. On the other side, sales are about communicating this message and giving people reasons to buy from you or your company over someone else.

Before you hire people or rent out space, a marketing plan must be created. You, as an entrepreneur, don’t know why people are interested in your product or service. How can anyone, particularly a customer,? Because sales and revenue are the lifeblood of a business and can make or break it, investing in that process will only bring you big rewards. Marketing is about communicating the whys to potential buyers. What is the point of this? Why should I choose you over someone else? Here are six steps that will help you create a marketing plan.

1. Identify the critical features of your product or service
2. Determine the benefits of owning or buying your product or service
3. Identify the people who are likely to buy your product or service. Find out how and where they can be reached.
4. Decide the communication mediums you will use in order to reach those you are trying to reach
5. Implement your plan
6. Measure the results in terms of sales

See also  Creating a Personal Sales Plan

Identify the Features

Take care! Do not settle for the obvious. Drill deeper. Consider what your prospects can benefit from you. Look beyond the product’s features. Consider pricing, delivery, and value. These should be written down so that you can share them with prospects, suppliers, and employees.

Find out the benefits.

The Swiss Army knife has 109 features, but only a few you will use. Take the time to think through all of the features and see how they can be used to your advantage. XYZ Cleaners, for example, is close, affordable, deliver, and stands behind its work. These are just a few of the many features. If the right person is able to make a stop on their way home from work, it will save them money on gas and cleaning costs. They can also count on a replacement garment if the garment gets damaged. Wow! WoW!

Get market demographics and psychographics.

Many people find their target market by purchasing a map of their city, placing X at the location, and then drawing a circle around it. They may be correct, but they’re most likely wrong. It is possible that you are selling high-priced products in a low-income area. Your product is unlikely to be purchased by many people in the area. Before you begin, make sure to determine where your buyers are located and what their preferences are.

Multimedia is a great way to get your message across.

You don’t have to rely on just one method of delivering your message. Use multiple channels, such as radio, TV, and direct mail. Direct mail is still the best way to provide a marketing message, and it’s also the most cost-effective.

See also  3 Reasons Why Sales Managers Don't Coach

Implement your Plan

It’s in the details that they say. The best marketing plan in all the world won’t work if it’s not tested. Plan and then implement it.

Take the time to measure your results.

Learn what works and what does not. Continue doing what works and stop doing what doesn’t.

This is what I call the Reader’s Digest version a marketing strategy. This is the only way to succeed if you don’t do anything else!