When writing a business plan, many people forget about the importance of creating a marketing plan as well. It is a common misconception that marketing is used only by big businesses, and involves expensive advertising techniques. The truth is that good marketing doesn’t have to cost you an arm and a leg, and is an important tool for businesses of all sizes.
The right marketing plan can help your business in the following ways:
Identify your target customers, and understand their needs and wants
- Find out how your competitors are targeting customers
- Distinguish your brand from your competitors
- Outline measurable objectives and goals that are in line with your business values
- Assess your progress as you go
- Help you gain financing.
It is important to continually review your marketing plan to make sure you are reaching your objectives. Make sure that you actively work on the document to ensure that it reflects the core needs of your business.
Creating a marketing plan involves a lot of research and can be time consuming, however there are tools out there to make it simpler. Try using an online template as the basis for your plan – much easier than starting from scratch. The Victorian Government also provide a free online template, as well as a simple breakdown of what a marketing plan should include.
You can also check out MarketMyBiz, an app that provides a template and support for producing your marketing plan. This app is available via the Google Play Store for Androids or the App Store for Apple products.
Give your business a head start by implementing a fantastic marketing plan.