So youve gotten your business going. You have a customer or two. The phone is ringinga little. For any business to grow and prosper long-term, it needs a solid foundation that includes a marketing plan.
A marketing plan is a road map detailing the route youll take to get your business noticed by potential clients. By following a properly crafted plan, youll know what to do and why youre doing it, while avoiding some of the mistakes that can cost you money and future growth.
If You Build It, They Wont Necessarily Come
The first part of any marketing plan is a basic understanding of your market, competition and whether or not an opportunity exists for your product or service.
My first business venture was to make very expensive looking floral wreathes. All my friends and neighbors had them on their front doors and I knew I paid $100 for mine, so why not make and sell them myself! What I didnt consider is that I have expensive taste and in order to make a profit, my wreaths were priced significantly higher than the local craft store. If I were in a more affluent area, it may have worked, but not here.
I started the business on a hunch and didnt truly know my market or competition. Had I done my research, I may have used lower cost materials, made less elaborate products, sold them in a different area or skipped the venture all together. What I learned is that my opinion combined with my friends opinions is not a strong enough basis to launch a business.
No, Im Not Going to Stop for Directions.
When starting a business you generally know where you want to end up and you might have a vague idea of how to get there, but what if you get lost? A marketing plan is like a road map or corner gas station used as a reference tool to keep your marketing on track. If you run into construction traffic, a properly developed plan will offer options to keep you motivated, organized and headed in the right direction.
I Want to Rule the World Or Do I?
Do you want a home based business with one or maybe two employees or a large firm with several hundred? How do you feel about travel, making cold calls, the Internet, can you type? How fast do you want to grow and do you have the resources to keep up with the growth? Your goals as a business entity will dictate how and to whom you market.
My second business venture was a used toy business. I hit every garage sale within 10 miles of my home and bought all of the solid plastic toys I could find. I also put up signs at day care centers offering to buy used toys directly from parents. My goal was to have my own garage sales business and earn a profit on the toys I had bought.
This time, I didnt consider my personal goals before embarking on my business. I didnt like going inside strangers homes to pick up their toys. I had nowhere to put the enormous stockpile I had amassed and wasnt willing to hire employees to gather enough toys to generate the revenue to cover a storage unit or store front. I wanted a little mom business, not a full blown corporation.
Had I considered my true goals, I would have marketed myself as a service provider to day care centers found out what they wanted and would be willing to pay, and then gone out to find it – no storage issues, no going into peoples homes, no employees required.
Its Report Card Day!
Even the best marketing plan needs to be constantly evaluated and adjusted to keep business growth on track. The results of your efforts may not be bringing in attention or revenue you require. The economy, business environment, competition or technology may have changed necessitating a shift in your plan.
Making adjustments to a marketing plan is healthy. Even if you paid a mint for a professionally developed plan, youll want to review your status and results at least every six months to monitor effectiveness. When buying a plan, its important to ask that follow up support to be part of the package.
Ill Just Put It On My Credit Card.
Before developing a marketing plan, youll want to have a ball park budget in mind. Once your plan is complete, set a budget and stick to it!
Its easy to spend more than your annual revenue on marketing activities and supplies when you first start out. Make sure your budget is realistic before committing. Every dollar spent should have a trackable outcome even if it takes several months or years to realize.
Plan Your Day and Work Your Plan
By following a properly developed marketing plan, youll minimize the growing pains that often accompany a business start up. Revenue growth will be reasonably predictable and youll be laying a foundation for long term stability. Your business will run more efficiently because next marketing steps will have been laid out in advance.
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About The Author Leslie Guria, Marketing Consultant with Foot in the Door Marketing, (http://www.footinthedoormarketing.com) and author of Openings a monthly newsletter geared toward small business owners. As a consultant, Leslie supports the marketing needs of small business owners nationwide. She has an MBA and over 16 years of successful sales, marketing and project management experience. leslie@footinthedoormarketing.comThe Truth About Negative Commands (don’t Read This!)Laurie Kristensen Everyday when I read promotional emails and advertisements, or listen to television commercials and dialogue in shows and movies, or hear people around me in everyday life use commands such as the following examples, I feel dismayed for them. This is because I understand something that many others do NOT! And, since learning what I now understand, while I am BOMBARDED every day from all directions with commands like those listed below, in all their variations, I feel worse and worse for not speaking up! I feel especially badly for all those advertisers out there who are ignorant about this, because I also realize they are often sincerely excited about what they are sharing and are working very hard to attract the attention of others. Examples:
And so on… This is because your subconscious mind works in strange ways. I learned this while training to become a hypnotherapist. ********* FACT: Your subconscious mind cannot recognize a negative! ********* As a result, when a person reads or hears statements similar to the above, their subconscious mind actually understands the command as follows. Examples:
Whenever I have tried to explain this to those who use this type of command in their advertising or their everyday language, they ALWAYS say, “I’m trying to create a sense of URGENCY.” But r The subconscious mind CANNOT recognize a negative command. And so, anytime you use a statement that includes a negative command, you are actually giving the OPPOSITE command for the action or results you desire! This is also why using only positive language in personal growth affirmations and in hypnosis — whether self-hypnosis or with a trained professional — is crucial. It’s also important to avoid alternate forms of negative commands, such as the following examples:
Always use POSITIVE commands and suggestions! I’ll admit, it takes some creative thinking, and it’s a learning process to overcome the overwhelming cultural training we have all been living with! However, by becoming aware, I am gradually learning how to choose my words more carefully and achieving greater results! For instance:
Get the idea? Command, suggest, or inspire people to POSITIVE ACTION, and you will achieve far greater results! And now, if you re-read my article headline, you can ALSO get an idea of how you can use this information to create some “reverse-psychology” results, as well!
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