The Importance Of A Marketing Plan

The Importance Of A Marketing Plan



The Importance of​ a​ Marketing Plan
There aren’t many things in​ life that you​ would get into with out a​ plan .​
Marketing is​ no different .​
Your overall marketing plan should cover about a​ six month period,​ and should be made up of​ weekly and monthly marketing schedules.
This is​ how you​ do it:
1 .​
Figure out how much money is​ in​ your budget.

As we all know,​ marketing of​ any kind costs money .​
How much money you​ are willing to​ commit to​ the​ cause is​ going to​ determine some key factors about how that money can be best spent .​
Remember,​ you​ want to​ be economical but you​ also need to​ be realistic on​ what it​ will take to​ pull in​ the​ leads you​ need to​ close new and repeat business .​
2 .​
Determine your target market.

Who is​ most likely to​ buy your product? Are they married? Are they business owners? What is​ their income level? These are the​ people that you​ want to​ target .​
One of​ the​ most common mistakes in​ marketing is​ answering Everyone to​ the​ question Who is​ your target market? It may be that you​ have more than one target market,​ but there is​ no product in​ the​ world that appeals to​ each and every person .​
Even Coca-Cola targets different people with different messages .​
Decide who is​ MOST LIKELY to​ buy what you​ have to​ sell and target them .​
Your message to​ teenagers will be different than your message to​ housewives even if​ the​ product is​ exactly the​ same .​
Different markets may require different mail pieces or​ advertisements.
2a .​
Using the​ Right Mailing List.

In making sure that your message is​ getting across to​ the​ right people - people who are in​ the​ market for what you’re offering – it​ usually comes down to​ finding the​ right mailing list.
There is​ a​ great deal to​ know about mailing lists .​
There are pointers you​ could follow when buying a​ mailing list that tell you​ what to​ watch for in​ a​ mailing list company to​ make sure they’re reputable .​
They are:
i) Get references .​
Talk to​ other people that have purchased mailing lists from that company.
ii) Do they guarantee on​ delivery? That means due to​ the​ inevitable number of​ bad addresses there are in​ a​ list,​ can they still guarantee a​ high percentage of​ deliverable addresses .​
That number should be 90% or​ better .​
People move all the​ time so a​ mailing list company cannot guarantee 100% deliverability – but they should guarantee at​ least 90%.
iii) How often do they update their information? They should be able to​ answer this question and should be updating their information monthly.
You can get burnt on​ mailing lists – it​ is​ the​ most expensive part of​ your campaign .​
Ask friends who own businesses .​
Don’t just purchase from the​ first person that tries to​ sell you​ mailing lists .​
Do your research.
3 .​
Select what media to​ use .​
(i.e.,​ Direct Mail,​ Television,​ Radio,​ etc.)

This decision will depend on​ both your budget and your target market .​
If you​ have not done a​ good deal of​ marketing in​ the​ past we recommend picking one media to​ start .​
This is​ much easier to​ keep track of​ and you​ will better be able to​ tell whether or​ not it​ is​ working .​
Also,​ since repetition is​ the​ key to​ marketing success,​ using one media to​ begin with will help you​ reach the​ same people multiple times .​
If you​ run a​ newspaper ad and send out a​ postcard,​ you​ run the​ risk of​ the​ majority of​ the​ people only seeing your ad once .​
However,​ if​ you​ send out the​ postcard twice you​ can guarantee that you​ get your message to​ the​ same people twice and you​ will start to​ build recognition.
Once you​ are getting the​ returns that you​ want from the​ first media,​ or​ if​ you​ decide that it​ is​ not working for you,​ you​ can branch out into another form of​ advertising .​
Over time you​ will build up a​ very diverse marketing plan.
4 .​
Make a​ Schedule and Stick with It.

Figure out how many people you​ have in​ your target market .​
For this example we will use Direct Mail Marketing .​
If you​ have a​ mailing list of​ people in​ your target market that has 1500 names,​ figure out how many times per month you​ can mail a​ postcard to​ them and still stay within your monthly budget .​
Once you​ come up with this number,​ do it!
The importance of​ having a​ marketing plan cannot be stressed enough .​
Create one and follow it​ and you’ll start seeing the​ benefits.




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